CANBERRA, Sept. 9 (Xinhua) -- Australia's peak energy industry body and climate experts have created new guidance to improve climate disclosure reporting across the energy sector.
The two guides, developed through a year-long partnership between the Australian Energy Council and the University of Adelaide, are the first of their kind nationally, the university said Tuesday.
The project clarified key parts of Australia's new climate disclosure rules, which started this year. Large organizations must follow the Australian Sustainability Reporting Standard AASB S2 (Australian Accounting Standards Board - Standard 2) Climate-related Disclosures, aimed at better climate transition planning across the economy, it said.
"Compliance with these standards has been established as a duty of company directors," said Tracey Dodd, a climate policy expert at the University of Adelaide.
One guide sets a standard for reporting emissions in the electricity sector, emphasizing accuracy and avoiding double counting. The other guide helps energy companies assess climate risks and opportunities under different scenarios, the university said. ■
