Key Takeaways Compliance Countdown Session 1: Reporting Readiness Assessment
In this session, we discussed the essential steps for assessing your organization's readiness for mandatory climate reporting. Here are the key takeaways:
- Understand Your Current Reporting Position
Participants learned how to evaluate where their business stands in terms of climate reporting preparedness. This assessment helps identify gaps and areas requiring immediate attention before disclosures are made. - The Four Pillars of Climate Reporting
We explored the four core pillars of the AASB S2 framework: Governance, Strategy, Risk Management, and Metrics & Targets. While many companies focus heavily on emissions, we highlighted the importance of strengthening governance and strategy as they often lag behind in readiness. - Importance of Board Engagement
Board and executive leadership involvement is critical. The session emphasized that board engagement and upskilling are key success factors in climate reporting, with active involvement from the top driving the disclosure process forward. - Readiness Assessment Tools
We shared tools, such as a readiness assessment workbook, that can help you evaluate your current preparedness. This allows companies to pinpoint areas of strength and weakness in their reporting process. Participants were encouraged to take immediate steps by filling out the readiness assessment to better understand where they stand. - Practical Steps for the Road Ahead
The session provided actionable next steps for improving climate reporting, such as engaging relevant stakeholders early, addressing gaps in governance, and ensuring proper documentation of decisions and methodologies to support the disclosures.
By the end of the session, participants had a clear understanding of what needs to be done to improve their reporting readiness and were introduced to tools and frameworks that will help them move forward in the compliance process.
If you wish to access other resources, reach out to francesca.castro@netnada.com.au.
Presentation Slides
