Australia has introduced significant mandatory climate reporting laws requiring businesses to estimate emissions and plan for climate risks. Implemented from 2024, these require large companies to disclose greenhouse gas emissions and assess impacts of different climate scenarios in their reports. Initially, only major companies are included, with expansion to more organizations by 2027. Companies must publish an annual 'climate statement' detailing climate risks, emissions, and related strategies, aligning with international standards set by the ISSB. The shift aims to increase transparency and address climate change, meeting investors’ demands for consistent sustainability reporting.