Australia's new sustainability reporting standards (ASRS) mandate climate-related disclosures for large companies, based on the international ISSB standards. The mandatory standard is AASB S2, while AASB S1 is a voluntary standard for broader sustainability-related disclosures. Implementation for large entities began in the financial year starting January 1, 2025, with reporting in 2026, and a phased-in approach over several years. 

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