Sustainability for ASX Companies
Sustainability governance
It all starts with governance. Sustainability governance involves the oversight of climate, nature and social issues at Board level, management of these issues by the executive and setting the necessary mechanisms to drive the company's performance as a sustainable business.
Sustainability and ESG Strategy
No company can provide solutions for all the issues of climate change, biodiversity loss or inequality. Sustainability or ESG strategy is formulated by identifying the priority issues for value creation, developing meaningful targets and setting action plans. Simplicity and focus are key.
Resilience and risk management
Companies are increasingly assessing sustainability-related risks and opportunities and evaluating organisational resilience under different conditions. Insights add wider perspectives and inform strategic planning and risk management.
Climate-related disclosure
Large Australian companies are required to prepare annual climate-related disclosures in accordance with Australian Sustainability Reporting Standard AASB S2. This represents a major shift in corporate reporting and will help build strategic responses to the physical risks of climate change and the risks and opportunities of the transition to a low carbon economy.
Nature and TNFD
"Nature is no longer a corporate social responsibility issue, but a core and strategic risk management issue alongside climate change", TNFD Recommendations September 2023. Australia faces a unique set of challenges to its ecosystems, and the implications for business are significant. Australian companies must start developing their response.