If you're a Group 2 company with a July to June financial year, your first mandatory reporting year under AASB S2 began on 1 July 2026. That sounds like a distant problem, because the report itself isn't due until after year end. It isn't a distant problem.
The report covers the whole year, including the months that pass while climate sits in the "later" pile. Governance disclosures, for example, describe what your board actually did during the year. If climate never made it onto an agenda, that's what you'll end up writing about.
Where to start
Most teams we talk to know roughly where they need to end up, and the sticking point is usually what to do first. Here's where we'd begin:
- Confirm your reporting group and your first reporting period. This is usually a quick conversation with your CFO.
- Get climate onto a board agenda this quarter. Governance disclosures describe what your board actually did, and an empty year makes a thin disclosure.
- Start collecting your energy and fuel data now, so it isn't a scramble during financial reporting season.
- Get your climate risk assessment underway. Once the risks are identified, you can work out what gets published and how your organisation demonstrates resilience. This is work you can do in your quieter months, so don't leave it until the last minute.
The good news
Starting now means around 90% of your climate statement can be drafted before year end, with the inventory, risk register and evidence file ready for assurance. The companies that find this manageable are simply the ones that treated it as a year of small steps instead of a reporting-season emergency.
Not sure where you stand?
That's the first thing we sort out on a free discovery call. We'll tell you honestly what's worth doing, and what isn't.
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