ESG & Investing
Companies ‘Paralyzed’ as Australia Plans Tough Climate Rules
- Over 6,000 firms, institutions to be required to report data
- Big companies estimate compliance costs could top A$3 million
A crystalliser, used in the process of manufacturing nickel sulphate hexahydrate, at the BHP Group Kwinana Nickel Refinery in Kwinana, Western Australia, Australia.
Photographer: Philip Gostelow/BloombergThis article is for subscribers only.
Australia’s plans to introduce stringent rules on climate disclosures are driving up concerns among businesses about compliance in one of the world’s biggest per-capita emitters.
More than 6,000 companies including listed and unlisted firms, financial institutions and asset owners will eventually fall under the auspices of mandatory rules being rolled out from January.