Purpose of research project *
This project examined how far Australian listed entities were already aligned with major international climate disclosure frameworks before the implementation of AASB S2. Using ASX 300 firms’ annual and sustainability-related reports from 2021–2023, the research assessed the breadth and depth of voluntary disclosures against TCFD, IFRS S2, CDP and GRI, with the aim of identifying current compliance gaps, interoperability issues, and areas where implementation support would be needed. The final report was prepared for the AASB as part of Tender 15, 2024–2025.Who has, is or will benefit *
• Australian Accounting Standards Board (AASB) and associated staff involved in climate disclosure implementation• Australian listed entities, especially firms preparing for AASB S2 compliance
• Smaller entities and lower-disclosing industries facing readiness challenges
• Assurance providers, advisors and industry bodies supporting implementation
• Investors and other market participants who rely on more consistent, decision-useful climate information
Description of impact *
Research and context:In 2024–2025, I, together with colleagues from other three Australian universities, delivered an AASB-commissioned study on the alignment of ASX 300 firms’ voluntary climate disclosures with TCFD, IFRS S2, CDP and GRI, covering 824 firm-years from 2021–2023.
Engagement:
The project was undertaken directly for the AASB and involved consultation with designated AASB staff. This engagement ensured the research addressed implementation-relevant issues for Australia’s new climate reporting regime.
Impact:
The project generated an evidence base for regulatory and market readiness by showing that, before AASB S2, firms on average disclosed only 40.1% of the 60 climate-related topics assessed and achieved only 23.7% of available disclosure scores. The study also identified where challenges are concentrated, especially for smaller firms and lower-disclosing industries, and highlighted that tailored guidance and training may be crucial for readiness and compliance. This has decision-making value beyond academia by informing standard implementation, market preparation, and support priorities for Australian entities transitioning from voluntary to mandatory climate disclosure. The project aligns with SDG 12, SDG 13 and SDG 16.
| Impact date | 2024 → 2025 |
|---|---|
| Category of impact | Environment impacts, Policy impacts |