Climate and Business Reporting Consultations

31 August 2026

AFGC is seeking member feedback on two current Commonwealth processes: 

• Treasury’s consultation on improving climate-related financial disclosures (closes 2/10/26) 
• the Productivity Commission inquiry into business reporting requirements (to be confirmed) 

Treasury climate reporting consultation 

The Treasury review is looking for ways to reduce the cost and complexity of mandatory climate reporting while maintaining the quality and consistency of disclosures. 

It is particularly seeking feedback on: 

• assurance requirements 
• clearer guidance on how reporting requirements, such as without undue cost and effort, should be applied 
• reasonable limits on information requests made to businesses in reporting entities’ value chains 

For members, Scope 3 reporting is likely to be particularly relevant. Treasury is considering whether clearer guidance is needed on what information businesses can reasonably be expected to provide, when secondary emissions data can be used and how to avoid disproportionate compliance costs being passed through supply chains. 

Productivity Commission inquiry 

The Productivity Commission is taking a broader look at non-financial business reporting requirements. 

The inquiry will consider: 

• duplication across reporting obligations 

• inconsistent data definitions 

• reporting thresholds, timing and frequency 

• Commonwealth, state and territory overlap 

• the cost of reporting compared with the value of the information collected 

The Commission has not yet announced its submission deadline. However, we would like to gather member evidence now so AFGC can prepare early and avoid asking members for similar information again once the formal consultation opens. 

What we need from Members 

We are particularly interested in practical examples of: 

• the same or similar information being requested more than once 
• customers, regulators or government agencies asking for similar information in different formats 
• concerns around assurance provider costs and quality  
• what level of accuracy is sufficient
• inconsistent or ambiguous definitions or methodologies 
• reporting periods that do not align  
• additional work for entities with an international parent company  
• duplication between Commonwealth and state requirements 
• high costs for assurance, data systems, consultants, or staff
• climate reporting requirements that create significant effort but limited additional value 
• areas where clearer government guidance would provide clarity on reporting needs  
• opportunities to use standard templates, emissions factors or common reporting approaches 

Where possible, please include quantified examples such as staff time, external costs, system costs or the number of separate reporting requests received. 

Examples do not need to relate only to climate reporting. We are also interested in broader non-financial reporting requirements that create duplication or unnecessary administrative burden. 

Why AFGC is considering these together 

Gathering this information together will allow AFGC to use relevant evidence across both processes and reduce the need for members to respond to separate requests. 

Timing 

AFGC will review member feedback and provide a further update when the Productivity Commission confirms its consultation timetable. 

All sensitive information will be de-identified by AFGC. 

Contact: Sarah Collier, Director – Membership & Sustainability 

sarah.collier@afgc.org.au