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 (3)
Governance
Pillar A: Board and management oversight of nature-related issues
| Code | Title |
|---|---|
| AASB-S2-5 | Governance Disclosure Objective |
| AASB-S2-6a | Governance Body Oversight |
| AASB-S2-6b | Management's Role in Governance |
| IM8-GOV.1 | ICT Governance Framework |
| IM8-GOV.2 | Roles and Responsibilities |
| IM8-GOV.3 | Policy Compliance |
| IM8-GOV.4 | ICT Security Risk Management |
| TNFD-GOV-A | Board Oversight |
| TNFD-GOV-B | Management's Role |
| TNFD-GOV-C | Human Rights and Stakeholder Engagement |
Risk Management
Establishing and maintaining a cyber security risk management program
| Code | Title |
|---|---|
| AASB-S2-25a | Risk Identification and Assessment Processes |
| AASB-S2-25b | Opportunity Identification Processes |
| AASB-S2-25c | Integration with Overall Risk Management |
| AESCSF-RM-1 | Cyber Security Risk Management Strategy |
| AESCSF-RM-2 | Risk Assessment Process |
| AESCSF-RM-3 | Risk Response and Mitigation |
| AESCSF-RM-4 | Risk Management Integration |
| CDP-RM-1 | Risk Identification Process |
| CDP-RM-2 | Dependencies and Impacts Assessment |
| CDP-RM-3 | Value Chain Risk Assessment |
| FAA-CS-3.1 | Data-Driven Risk Management |
| FAA-CS-3.2 | Supply Chain Risk Management |
| FAA-CS-3.3 | Vulnerability Assessment |
| GAMP5-1.1 | Risk-Based Approach |
| GAMP5-1.2 | Patient Safety Risk Assessment |
| GAMP5-1.3 | Functional Risk Assessment |
Strategy
Pillar B: Impact of nature-related issues on business strategy
| Code | Title |
|---|---|
| AASB-S2-10 | Risk Classification and Timeframes |
| AASB-S2-14 | Response Strategies and Transition Plans |
| AASB-S2-15 | Financial Effects Disclosure |
| AASB-S2-22 | Scenario Analysis for Climate Resilience |
| AASB-S2-9a | Climate Risks and Opportunities Identification |
| AASB-S2-9b | Business Model and Value Chain Effects |
| AASB-S2-9c | Strategy and Decision-Making Effects |
| AASB-S2-9d | Financial Position Effects |
| AASB-S2-9e | Climate Resilience |
| TNFD-STR-A | Nature-related Dependencies, Impacts, Risks and Opportunities |
| TNFD-STR-B | Effect on Business Model, Strategy and Financial Planning |
| TNFD-STR-C | Resilience of Strategy |
| TNFD-STR-D | Priority Locations |
Maps to 615 other frameworks
Frequently Asked Questions
What is AASB S2 Climate-related Disclosures?
AASB S2 Climate-related Disclosures is a compliance framework from Australia with 3 domains and 39 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 39 controls organised across 3 domains. The largest domains are Risk Management (16 controls), Strategy (13 controls), Governance (10 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 615 other compliance frameworks. The top mapping partners are NIST SP 800-82 Rev 3 — Guide to OT Security (36% coverage), CFTC System Safeguards (17 CFR 37, 38, 39, 49) (33% coverage), GLI-33 — Gaming Laboratories International Event Wagering Systems (33% 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 39 controls and track your progress.
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