ASIC has published e-learning sustainability reporting educational Modules 1 to 3 to assist companies in understanding the core concepts behind the new sustainability reporting requirements in the Corporations Act 2001 (Corporations Act).
ASIC has developed the e-learning modules in partnership with the Australian Accounting Standards Board (AASB). The modules are designed to be self-paced and accessible.
The e-learning modules are primarily aimed at Group 2 and 3 entities that are not yet subject to the sustainability reporting requirements but are expected to commence sustainability reporting for financial years beginning on or after 1 July 2026.
However, the e-learning modules are suitable for any report preparer new to the sustainability reporting requirements and other stakeholders in the climate reporting ecosystem seeking to build their understanding in this area. This includes employees, advisers, accountants, auditors, directors, shareholders, members, creditors and owners and operators of small-to-medium businesses.
The e-learning modules are designed to support individuals in understanding foundational concepts relating to climate-related financial disclosures, such as climate-related risks and opportunities. By building a strong understanding of these foundational concepts, users will be able to interpret the sustainability reporting requirements in the Corporations Act and begin preparing for compliance.
ASIC recommends that Group 2 and 3 entities begin building their capability and preparing for sustainability reporting early.
The first three e-learning modules follow the publication of the PDF versions of all eight modules on the ASIC website.
Module 1 sets out how stakeholders should engage with the materials and introduces the basics of the new sustainability reporting requirements in the Corporations Act.
Module 2 covers the basics of climate change and Module 3 covers climate-related physical risks.
ASIC will publish the e-learning Modules 4 to 8 in the coming months. This will be followed by in-person workshops in major cities to further engage with companies that are not yet subject to the sustainability reporting requirements looking for more information about these educational materials.
Details on the in-person workshops will be made available in April.
Related Links
First sustainability reporting educational modules released to assist smaller companies
Background
ASIC has partnered with the AASB to develop eight educational modules on the sustainability reporting framework to help companies better understand and apply the foundational concepts surrounding the sustainability reporting requirements.
The sustainability reporting requirements are new for Australia and impose new obligations on directors and reporting entities but can also affect small and medium-sized companies that support reporting entities.
The eight modules cover:
- Module 1: Corporations Act and climate-related disclosure requirements
- Module 2: Introduction to climate change
- Module 3: Climate-related physical risks
- Module 4: Climate-related transition risks
- Module 5: Climate-related opportunities
- Module 6: Emissions accounting
- Module 7: Scenario analysis
- Module 8: Governance and risk management
ASIC will be pragmatic and proportionate in its supervision and enforcement approach as the sustainability reporting requirements are phased in and as industry adjusts to the new requirements. We are focused on how we can support the implementation of the new requirements through engagement, guidance and capacity building.
Other resources
For more information about the sustainability reporting requirements, refer to Regulatory Guide 280 Sustainability reporting (RG 280) and our article on what small businesses need to know. These guides are intended to help reporting entities understand whether they are required to prepare a sustainability report, and when those reporting obligations apply.
For more information about the Australian Sustainability Reporting Standards, refer to the AASB’s Australian Sustainability Reporting Standards webpage and to access educational materials on AASB S2 Climate-related Disclosures, refer to AASB S2 Knowledge Hub.
For more information about the sustainability assurance standard, please refer to the Australian Auditing and Assurance Standards Board’s (AUASB) Sustainability Assurance webpage and to access educational materials on sustainability assurance, refer to AUASB’s Sustainability Assurance Educational Materials.
ASIC is Australia’s corporate, markets and financial services regulator.