The federal government has kicked off a process to make large Australian companies report on the risks they are facing from climate change. Is corporate Australia ready?
For the most part, UniSuper’s recent climate risk report was much like others regularly produced by large entities.
“The sooner UniSuper accepts that there won’t be an economy with 4.3 degrees warming, the safer its investments will be,” she said. “There’s now broad acceptance that proper disclosure of these financial risks and impacts isn’t a nice-to-have extra,” Treasurer Jim Chalmers said this week. The Australian government is proposing that some requirements to disclose scope 3 will apply, but is seeking views on this and whether businesses should be given more time to report it.
“I think there’ll be some robust engagement in the particulars of the how, but I don’t think it’s likely that we will see a significant pushback on the need to do it at all,” she said.Scope 1: Covers direct greenhouse gas emissions from owned or controlled sources. Many large businesses and financial institutions in Australia already report on climate risks, including banks and superannuation funds. Mining and resources companies, which Herd points out have been on the frontline of the climate change debate, have some of the most mature and sophisticated reporting of these issues.
Rennie said part of the solution will be tackling the national skills shortage, and making a concerted effort to upskill local accounting and finance professionals.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Royal Australian Mint adds secret detail to new Queen coins - a first in AustraliaIt’s believed Buckingham Palace has approved the ‘surprising’ new move. 7NEWS
Read more »
Australian abortion and contraceptive provider’s ads banned by GoogleMSI Australia has been prevented from promoting its services through paid ads on Google since 3 December
Read more »
Dentist, tattoo artist to be interviewed as investigation into death of West Australian woman continuesDenpasar's police chief tells the ABC further statements will be taken as investigators probe the death of 25-year-old Niamh Finneran Loader, who had flown to Bali for dental treatment.
Read more »
Australian cricket star Glenn Maxwell lists Aberfeldie home after shock injury - realestate.com.auThe former Stars captain is keeping busy while he’s out injured, putting his four-bedroom property on the market in hopes of a pre-Christmas sale. SEE INSIDE
Read more »
Nurse who survived WWII massacre to be first woman honoured with an Australian War Memorial statueBroken Hill nurse Vivian Bullwinkel was the sole survivor of the Banka Island massacre, in which 60 soldiers and 22 nurses were killed. It's hoped that one day, she'll also be a household name.
Read more »
‘Remarkable Australian story’: Tiny Jurassic teeth rewrite history of mammalsA controversial research paper argues the ancestors of the world’s mammals, including humans, evolved in Australia and the southern hemisphere.
Read more »