Government agencies and unlisted companies are dragging the chain on climate reporting, says KPMG, with Australia’s top 100 ASX-listed names outperforming on a global scale.
“It’s totally down to the regulatory environment here in Australia. Almost everything in this space is voluntary and the main stakeholder that has been pushing this is the investor, which is why I would suggest the capital markets side is further ahead,” Mr King said. , Mr King said the Australian Securities and Investments Commission would likely implement a phased approach to mandatory reporting.it would take at least 12 months for implementation so 2024
“The first thing is we absolutely need for this to be regulated and mandated. For tackling issues like climate change there’s no point for this to be targeted at the listed space and not look at issues in the public or unlisted sectors,” Mr King said.KPMG’s research found almost all major companies or 97 per cent of ASX 100 companies now provide sustainability reports, but among the biggest Australian organisations, including government and unlisted companies the number drops to 88 per cent.
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