The Business Council of Australia (BCA) welcomes the opportunity to engage with Treasury on the Climate-related financial disclosure consultation paper and the development of standardised, internationally-aligned reporting requirements for Australian businesses to make disclosures regarding governance, strategy, risk management, targets and metrics — including greenhouse gasses (the new reporting requirements).

Our members support continuous improvement in the quality of climate-related financial disclosures to guide investment decision making needed to decarbonise our economy efficiently.

In our view, the primary purpose of the new requirements must be to help investors (and other stakeholders) form the most rigorous view (possible) of climate risks and opportunities as they pertain to individual businesses and their specific assets and operations.

You can read our full submission here.