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 (8)
Governance
| Code | Title |
|---|---|
| AASB-S2-5 | Governance Disclosure Objective |
| AASB-S2-6a | Governance Body Oversight |
| AASB-S2-6b | Management's Role in Governance |
| AASB-S2-Gov-6 | Governance Body Oversight |
| AASB-S2-Gov-7 | Management Role |
| 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 |
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 |
| AASB-S2-Gov-6 | Governance Body Oversight |
| AASB-S2-Gov-7 | Management Role |
| 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 |
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-S2-25a | Risk Identification and Assessment Processes |
| AASB-S2-25b | Opportunity Identification Processes |
| AASB-S2-25c | Integration with Overall Risk Management |
| AASB-S2-RM-25 | Risk Identification and Assessment Process |
| AASB-S2-RM-26 | Opportunity Identification |
| AASB-S2-RM-Integration | Integration with Enterprise 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 |
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 |
| AASB-S2-RM-25 | Risk Identification and Assessment Process |
| AASB-S2-RM-26 | Opportunity Identification |
| AASB-S2-RM-Integration | Integration with Enterprise 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 |
Scope
| Code | Title |
|---|---|
| AASB-S2-Scope | Scope and Applicability |
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 |
| 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 |
| 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 |
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 |
| 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 |
| 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 |
Your Compliance Coverage
If you comply with AASB S2 Climate-related Disclosures, you already cover:
NIST SP 800-82 Rev 3 - Guide to OT Security
23%
14 controls mapped
Compare →EU AI Act
22%
13 controls mapped
Compare →CFTC System Safeguards (17 CFR 37, 38, 39, 49)
22%
13 controls mapped
Compare →+ 634 more: GLI-33 - Gaming Laboratories International Event Wagering Systems (22%), EIOPA Guidelines on ICT Security and Governance (EIOPA‑BoS‑23/146, 2023) (22%)
See all 637 mapped frameworks ↓Maps to 637 other frameworks
Frequently Asked Questions
What is AASB S2 Climate-related Disclosures?
AASB S2 Climate-related Disclosures is a compliance framework from Australia with 8 domains and 60 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 60 controls organised across 8 domains. The largest domains are Risk Management (16 controls), Strategy (13 controls), Metrics and Targets (11 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 637 other compliance frameworks. The top mapping partners are NIST SP 800-82 Rev 3 - Guide to OT Security (23% coverage), EU AI Act (22% coverage), CFTC System Safeguards (17 CFR 37, 38, 39, 49) (22% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with AASB S2 Climate-related Disclosures compliance?
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