As part of our ongoing work to strengthen climate governance and financial integrity, an in-depth policy analysis was conducted by Better Futures Australia intern Greta Cranwell Schaeper.
Executive Summary
Australia’s Climate-Related Financial Risk Disclosure policy is a cornerstone of the country’s sustainable finance and regulatory reform agenda. However, growing political contestation, global rollbacks, and strong industry lobbying put its future at risk.
Drawing on over 120 public submissions, expert interviews, and global benchmarks at the time of the 2025 federal election, Greta's work explores how Australia’s proposed Climate-Related Financial Disclosure regime could evolve—and what’s at stake if it's delayed, diluted, or dismantled.
The attached full PDF analysis outlines how the policy could evolve under three scenarios—Business as Usual, Weakened, and Strengthened—and assesses ten core elements of the framework based on stakeholder support, global alignment, and empirical evidence. The report identifies where civil society and policymakers can focus efforts to defend and improve the policy, ensuring it remains aligned with Australia’s climate commitments and financial system integrity.
Priority Recommendations
2025-26 (High priority):
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Support integrated climate and financial reporting
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Provide Scope 3 guidance, scenario templates, and a science-aligned transition plan framework
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Strengthen ASIC’s regulatory oversight capacity
2027–28 (Medium-priority):
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Update emissions reporting standards and accelerate industry-based metrics
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Conduct the first policy review to improve disclosure quality and alignment
2029-30 (Strategic opportunity):
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Remove exemptions that weaken transparency and accountability
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Expand disclosure scope to broader sustainability issues, such as biodiversity and gender equity