ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027
Group 3 (smaller entities) start climate disclosure FY28.
Who must comply
Group 3 entities meeting any two of three thresholds.
What triggers it
First FY commencing on/after 1 July 2027.
When due
First report alongside FY28 annual financial report.
Evidence required
AASB S2 disclosures; auditor's limited assurance.
Max penalty
Same penalty regime as ASRS Group 1
Effective from
1 July 2027
Summary
Group 3 thresholds (revenue ≥$50M, assets ≥$25M, ≥100 employees — any two of three under Ch 2M-equivalent test) start AASB S2 sustainability reporting for FYs commencing on/after 1 July 2027. Reduced Scope 3 obligations in year 1.
Enforced by
Source legislation
Topics
Source: https://aasb.gov.au/admin/file/content105/c9/AASB_S2_09-24.pdf. Rules Mate is not a law firm. Always verify against the live regulator source before acting.