Australian Sustainability Reporting Standards (AASB S1 & S2)

Applies to

Australian large entities and registrable superannuation entities meeting size thresholds — phased Group 1 / 2 / 3.

Key points

• Closely aligned with ISSB IFRS S1/S2 — TCFD-style four pillars.
• Scope 1+2 from year 1; Scope 3 deferred to year 2.
• Modified-liability-style safe-harbour for forward-looking statements in early years.
• ASIC enforces; assurance phased in (limited → reasonable).

Applicability triggers

• Indian parent of an Australian subsidiary above any of the size thresholds.
• Indian-listed group consolidating Australian operations into ASRS reporting.

Practitioner questions

• Can Indian parent-level ISSB-aligned disclosures be reused for the Australian subsidiary's AASB S2 report?

Sources

• AASB Sustainability Reporting Standards