Skip to content
Business Company News

New ISSB Disclosure Standards will transform ESG reporting for Australian businesses: BCSD Australia

Business Council for Sustainable Development Australia 2 mins read
New ISSB Disclosure Standards will transform ESG reporting for Australian businesses: BCSD Australia

Sydney, Australia: ESG reporting by Australian businesses will be transformed by new sustainability disclosure standards announced by the International Sustainability Standards Board (ISSB), the Business Council for Sustainable Development Australia (BCSD Australia) said.


Launched today in London, the International Financial Reporting Standards (IFRS) S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS sustainability disclosure standard – IFRS S2 Climate-related disclosures, will reshape the reporting landscape.


The ISSB’s new sustainability disclosure standards mark the first major steps in creating alignment between differing sustainability disclosure regimes and helping meet investor information needs on sustainability-related risks and opportunities,” said Andrew Petersen, CEO of BCSD Australia, which represents Australia's business sustainability leaders. The new comprehensive reporting standards will be transformative for Australian business and capital markets in reporting on their Ambition, Action and Accountability in their ESG data.”


The IFRS S1 and IFRS S2 disclosure standards will provide Australian businesses with clarity on how to report on their environmental, social and governance issues and allow them to do so in a clear and comparable manner, Petersen said.


“By adopting the ISSB's standards, companies will be better equipped to meet the growing expectations of investors, regulators, and the public at large. Additionally, these standards will help organisations identify risks and opportunities associated with sustainability, ultimately contributing to better decision-making and resource allocation,” said Petersen.


The International Sustainability Standards Board (ISSB) was established by the IFRS Foundation, an independent, not-for-profit organisation responsible for developing a single set of high-quality, globally accepted accounting standards. The new reporting standards, which will help streamline the sustainability reporting landscape and promote consistency in disclosure practices, build upon the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) while also incorporating industry-specific requirements based on the SASB Standards.

About us:


About BCSD Australia
BSCD Australia is an Australian coalition of more than 70 private and public organisations advocating for progress on sustainable development.

Its mission is to be a catalyst for innovation and sustainable growth in a world where resources are increasingly limited.

The Council provides a platform for companies to share experiences and best practices on sustainable development issues and to advocate for ambitious action, working with governments, non-governmental and intergovernmental organisations.

Its members include leading Australian businesses from all sectors, and public sector enterprises and institutions, as well as industry and community organisations.

The Council's members jointly have more than 100,000 employees.


BCSDA Submission (30 July 2022) to the development of the Standards: Click here

Contact details:

Andrew Petersen, CEO, +61 412 545 994


More from this category

  • Agriculture Farming Rural, Business Company News
  • 01/12/2023
  • 16:29

SunRice wins Australian Export Award

MEDIA RELEASE 1 December 2023 SunRice takes home Gold at the Australian Export Awards The SunRice Group is thrilled to have been awarded the Agribusiness, Food and Beverages Award at the 61st Australian Export Awards. Held at Parliament House, the Award is in recognition of outstanding international success in the field of agricultural products, including manufactured foods and beverages. • The SunRice Group is one of Australia’s most iconic food brands and Australia’s number one rice brand. The business started over 70 years ago when a group of Riverina rice growers pooled their resources to build a single rice mill…

  • Contains:
  • Business Company News
  • 30/11/2023
  • 15:24
Chartered Accountants ANZ

CA ANZ Media Release – Superannuation changes pose risk to future generations

30 November 2023 CHARTERED ACCOUNTANTS: TODAY’S PROPOSED SUPERANNUATION CHANGES POSE RISK TO FUTURE GENERATIONS The peak accounting body, Chartered Accountants ANZ (CA ANZ), is raising significant concerns about superannuation changes introduced in the Australian Parliament today. Currently, earnings on money invested in superannuation are taxed at 15 per cent, while under changes proposed today this would double to 30 per cent for balances over $3 million. The ‘changing of the goalposts’ would right now double the tax payable on superannuation for around 80,000 Australians who have followed the rules at all times. And because they are not indexed, they set…

  • Contains:
  • Business Company News, Environment
  • 30/11/2023
  • 08:39

The Future of Work: Businesses To Increase Climate Resilience Roles

The Head of Climate Resilience at major electricity distributor Ausgrid, Penny Joseph, predicts that all jobs of the future will have an element of…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time your distribute with Medianet. Pay per release or save with a subscription.