Reporting to ASRS Standards

What You Need to Know About ASRS Reporting in 2025

Australia’s new Sustainability Reporting Standards (ASRS) are here, and for many companies, it’s go time. Afonso Firmo, founder of carbon accounting platform Net Nada, recently broke down what these new standards mean - and where companies are most likely to get stuck.

ASRS is based on international frameworks like TCFD, with mandatory climate-related financial disclosures rolling out across Group 1, 2, and 3 companies. These reports go beyond carbon emissions. They cover four pillars: governance, strategy, metrics and targets, and risk management. Most businesses, according to Afonso’s research across 60 companies, are lagging in strategy and risk.

That’s where the opportunity lies. If you’ve got experience in business strategy, stakeholder engagement, finance, or risk - your skills are more transferable than you might think. Understanding climate impacts is important, but ASRS reporting is about applying that through a financial lens.

A key part of the work is scenario analysis. You don’t need to be a climate scientist. You need to understand how various climate futures might impact your revenue, supply chain or operational costs.

Companies are now running readiness assessments and gap analyses, with investors and internal teams increasingly using these reports to guide decisions. Many are starting to explore double materiality too -where both business risk and climate impact are considered.

For anyone entering the space, Net Nada is making it easier to get started. The message is clear: climate disclosures are no longer optional. But they don’t have to be overwhelming.