The Australian Government has released the Year 1 requirements for the Commonwealth Climate Disclosure (CCD) policy.

The policy, which mandates climate-related reporting by Commonwealth entities and companies, aims to increase transparency regarding climate risks and opportunities while fostering preparedness for climate-related changes.  

Building on a pilot conducted during the 2023-24 financial year, the new guidelines detail the reporting expectations for participating entities under the CCD initiative. 

Tranche 1 entities are set to begin full reporting in the 2024-25 financial year, while Tranche 2 entities will start in 2025-26.  

The policy outlines four focus areas for disclosure: governance, strategy, risk management, and metrics and targets. 

Disclosures must align with the APS Net Zero by 2030 target, as part of Australia's commitment to reducing emissions under the Paris Agreement.  

Authorities say key outcomes of the CCD include bolstering public service resilience, showcasing government leadership in climate disclosure, and aiding the achievement of national emissions targets.  

The Government encourages entities to adhere to these guidelines, noting that “capability building support is available” to assist compliance. 

Additional details, including guidance for voluntary participation and progressive reporting criteria, are available on the CCD website.  

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