Chartered Accountants ANZ (CA ANZ) and the Australian Small Business and Family Business Ombudsman (ASBFEO) have collaborated on a guide to help small and medium-sized businesses (SMEs) understand potential requests for greenhouse gas (GHG) emissions data.
Australian SMEs are encouraged to increase their knowledge of measuring GHG emissions due to potential reporting requests from larger companies.
CA ANZ chief executive Ainslie van Onselen said: “Mandatory climate-related financial disclosure began for large businesses and financial institutions earlier this year, but what smaller businesses may not realize is that this could affect them too.
“While there is currently no obligation for small businesses to report information related to their GHG emissions, if SMEs are in the supply chain of large companies or government, they may be asked to provide this information, especially if they are in high-emissions sectors such as energy, agriculture and transport and logistics.”
The guide is part of an initiative to help SMEs understand the types of information they may need to provide about their GHG emissions, as part of the supply chain to larger companies.
Bruce Billson of Australia’s Small and Family Business Ombudsman said:
“I encourage SMEs to take the time to read the guidance and familiarize themselves with the climate-related reporting requirements around GHG emissions. Being prepared and understanding potential reporting obligations could give your business a competitive advantage.
“By including climate-related information in tenders, potential new clients will have confidence that SMEs are prepared and considering sustainability issues.”
CA ANZ recently endorsed a review of auditor compliance, which advocates for more explicit expectations that would enable auditors to better fulfill their responsibilities and maintain public trust.
The Australian Securities and Investments Commission (ASIC) published a report titled Building Trust, which examines auditors’ compliance with independence and conflict of interest guidelines.
“CA ANZ and ASBFEO partner to support SMEs in GHG disclosure” was created and originally published by The Accountant, a brand owned by GlobalData.
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