Non-bank lenders and mandatory sustainability reporting
On 22 August 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Bill) with some minor amendments.
27 August 2024
Climate-related financial disclosure
On 27 March 2024, the Treasurer introduced and read the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Bill) to the House of Representatives.
03 April 2024
Mandatory climate reporting: KWM’s submissions to Treasury
On 12 January 2024, Treasury released a consultation draft of legislation to require mandatory climate reporting by Australian companies. For a description of the proposed reporting regime, see our Client Alert.
27 March 2024
TNFD publishes final framework as TCFD disbands
On 12 October 2023, the Task Force on Climate-related Financial Disclosures (TCFD) published its sixth and final status report.
03 November 2023
Mandatory climate reporting in Australia – Treasury proposes a broad reach with a limited safe harbour
Treasury has released its second consultation paper on climate-related financial disclosures. This paper builds on Treasury’s initial consultation paper released late last year. The initial consultation paper received 194 submissions, most of which are publicly available here.
05 July 2023
Pathway to sustainable development: legal risks of climate change for the finance sector
This is a result of the important role finance flows play in the global shift toward a low-carbon, climate-resilient economy[1]. The stakeholders range from pension funds to banks and import-export institutions, which not only face the continuing indirect risks arising from climate action brought against clients and investees, but are also increasingly the direct targets of climate action for their roles in financing projects associated with significant carbon emissions.
01 June 2023
Australia’s Modern Slavery Act Review – Reforms on the Horizon
The eagerly anticipated report on the statutory review of Australia’s Modern Slavery Act 2018 (Cth) (Act) has been released (Report).
31 May 2023
Climate change litigation targets board of directors in world-first derivative action
Directors beware! A world-first derivative shareholder action has been commenced by ClientEarth in the High Court of England and Wales against 11 Shell directors for breach of their directors’ duties.
20 February 2023
Reforming Australia’s Federal Environmental Laws
The Final Report of the Independent Review of Australian Carbon Credit Units (ACCUs) was released on 9 January 2023 (the Report). We considered the independent review in our October update on the proposed biodiversity certificates scheme.
08 February 2023
Federal environmental law reform: What you need to know in 2023
The year 2023 is shaping up as a significant year for legislative reform in Australia, with comprehensive changes to fundamental environment and climate change laws expected.
30 January 2023
ASIC’s greenwashing penalties and treasury consultations turn up the heat on sustainability reporting
As pressure grows to achieve net zero by 2050, organisations need to know how regulators are investigating and enforcing ‘greenwashing’.
14 December 2022
Greenwashing – Understanding (and handling) the heat
Greenwashing mentions in global financial press have more than doubled since January. Regulators are intensifying efforts as businesses transition to a net zero economy, fuelling a surge in interest.
09 November 2022
Chapter 1: Targets and working together
By leveraging strong economic and trade complementarities, Australian and Chinese businesses are well positioned to unlock new opportunities and deliver a greener future.
14 September 2022
Chapter 8: Beyond collaboration: the heart of the challenge
The issue of a global climate challenge and agreed emission targets by definition crosses borders. Confronting it requires international cooperation.
14 September 2022
