ASRS – The New Reporting Standard
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- Effective from financial years starting 1 Jan 2025.
- Mandatory disclosure (AASB S2): Climate-related financial disclosures included in audited reports.
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Scope covered:
- Scope 1 & 2 (NGERS methodology allowed).
- Scope 3 (supply chain, ICT procurement, packaging, logistics, financed emissions, end-of-life).
- Governance, risk, strategy, targets, and scenario analysis.
- Penalties: Civil fines up to ~$626k, daily penalties, director liability, criminal charges for false data.
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Phased rollout:
- Group 1 (FY25): ≥ $500m revenue, ≥ 500 staff, or NGERS facility ≥ 100k tCO₂-e.
- Group 2 (FY26): ≥ $200m revenue, ≥ 250 staff.
- Group 3 (FY27): ≥ $50m revenue, ≥ 100 staff.
- Assurance: Limited assurance from day one → full reasonable assurance by 2030.
- Liability: Overseen by ASIC; directors personally accountable for disclosures under the Corporations Act.
- Why it matters: Climate reporting becomes public, auditable, and comparable — raising the bar for ESG data integrity.
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Phased rollout:
NGERS – The Current Framework
- Introduced in 2007 under the NGER Act. NGERS is foundational but incomplete — it covers only Scope 1 and Scope 2, not Scope 3.
- Scope covered: Scope 1 (direct emissions) + Scope 2 (purchased energy).
- Scope covered: Scope 1 (direct emissions) + Scope 2 (purchased energy).
- Obligations: Annual self-assessment, register by 31 Aug, report by 31 Oct via CER’s EERS portal.
- Penalties: Civil fines up to ~$626k, daily penalties, director liability, criminal charges for false data.
- Why it matters: NGERS data underpins the National Greenhouse Accounts and feeds into broader ESG reporting.
Other ESG Compliance Requirements
TechForGood ensures ICT procurement is NGERS-compliant by design:
Key Dates & Thresholds at a Glance
| Framework | Scope | Who Reports | Deadlines |
|---|---|---|---|
| ASRS (AASB S2) | Scope 1, 2 & 3 + governance/targets includes Scope 3 ICT procurement disclosures |
Group 1: FY25; Group 2: FY26; Group 3: FY27 |
Annual financial reporting cycle |
| NGERS | Scope 1 & 2 | Facilities ≥25k tCO₂-e OR Groups ≥50k tCO₂-e | Register: 31 Aug; Report: 31 Oct |
| ASSA Assurance | Independent verification | All ASRS reporters | Phased → full by 2030 |
| ASIC Oversight | SG disclosure integrity | All reporting entities | Ongoing |
Where ICT Procurement Fits
ICT is a growing emissions hotspot (manufacture, cloud, logistics, end-of-life). TechForGood provides:
Positioning: TechForGood is not a consultancy — we act as a compliance checkpoint supplier.
Navigating the ESG Compliance Landscape in Australia — a practical guide to NGERS, ASRS, assurance requirements, and director responsibilities.
