Australia’s long-awaited climate reporting bill may be jeopardized by opposition from some of the thousands of small companies who would be forced to comply.
The financial reporting bill, introduced last month, has been welcomed by business groups, investors and accounting firms. Australian Council of Company Directors Head of Policy Christian Gergis said he wanted to see it “passed without undue delay.”
Yet, Chartered Accountants Australian New Zealand Reporting & Assurance Leader Amir Ghandar warned support for the bill could be derailed by smaller companies facing hefty auditing costs even if they face no material climate risks.
The issue was ...
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