AASB S2 Climate-related Disclosures
Australian Accounting Standards Board Standard S2 requires entities to disclose climate-related risks and opportunities. Based on IFRS S2 issued by the ISSB. Structured around four pillars: Governance, Strategy, Risk Management, and Metrics and Targets. Commenced as a legislative instrument on 31 December 2024.
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Framework Domains (5)
Governance
| Code | Title |
|---|---|
| AASB-S2-Gov-6 | Governance Body Oversight |
| AASB-S2-Gov-7 | Management Role |
Metrics and Targets
| Code | Title |
|---|---|
| AASB-S2-Capital-29f | Capital Deployment |
| AASB-S2-GHG-Scope1 | Scope 1 GHG Emissions |
| AASB-S2-GHG-Scope2 | Scope 2 GHG Emissions |
| AASB-S2-GHG-Scope3 | Scope 3 GHG Emissions |
| AASB-S2-ICP-29g | Internal Carbon Price |
| AASB-S2-Metrics-29 | Cross Industry Metrics |
| AASB-S2-Physical-29d | Physical Risk Exposure |
| AASB-S2-Remun-29h | Climate Linked Remuneration |
| AASB-S2-Targets-33 | Climate Related Targets |
| AASB-S2-Targets-NetZero | Net Zero or Similar Targets |
| AASB-S2-Transition-29c | Transition Risk Exposure |
Risk Management
| Code | Title |
|---|---|
| AASB-S2-RM-25 | Risk Identification and Assessment Process |
| AASB-S2-RM-26 | Opportunity Identification |
| AASB-S2-RM-Integration | Integration with Enterprise Risk Management |
Scope
| Code | Title |
|---|---|
| AASB-S2-Scope | Scope and Applicability |
Strategy
| Code | Title |
|---|---|
| AASB-S2-Resilience-22 | Climate Resilience and Scenario Analysis |
| AASB-S2-Strat-13 | Effects on Business Model and Value Chain |
| AASB-S2-Strat-14 | Effects on Financial Position and Performance |
| AASB-S2-Strat-9 | Climate Related Risks and Opportunities |
Your Compliance Coverage
If you comply with AASB S2 Climate-related Disclosures, you already cover:
Maps to 3 other frameworks
Frequently Asked Questions
What is AASB S2 Climate-related Disclosures?
AASB S2 Climate-related Disclosures is a compliance framework from Australia with 5 domains and 21 controls. Australian Accounting Standards Board Standard S2 requires entities to disclose climate-related risks and opportunities. Based on IFRS S2 issued by the ISSB. Structured around four pillars: Governance, Strategy, Risk Management, and Metrics and Targets. Commenced as a legislative instrument on 31 December 2024. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does AASB S2 Climate-related Disclosures have?
AASB S2 Climate-related Disclosures has 21 controls organised across 5 domains. The largest domains are Metrics and Targets (11 controls), Strategy (4 controls), Risk Management (3 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does AASB S2 Climate-related Disclosures map to?
AASB S2 Climate-related Disclosures maps to 3 other compliance frameworks. The top mapping partners are CDP (formerly Carbon Disclosure Project) (14% coverage), ISO/IEC 23894:2023 (10% coverage), ISO 31000:2018 (5% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with AASB S2 Climate-related Disclosures compliance?
Start your AASB S2 Climate-related Disclosures compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about AASB S2 Climate-related Disclosures requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 21 controls and track your progress.
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