As of 1 January 2025, large businesses are required to report on their climate-related risks, opportunities, and greenhouse gas emissions under a new national reporting framework. This marks a major shift in corporate reporting – placing climate disclosure on par with financial reporting, and making directors personally accountable for sustainability statements.
While these obligations apply directly to large entities, the impacts extend throughout the tourism supply chain. Smaller operators – such as accommodation providers, tour companies and local service businesses – may now be asked to supply environmental data to help larger corporate businesses to meet their own reporting requirements.
“Sustainability reporting is now a core part of doing business,” says EarthCheck CEO and Founder Stewart Moore. “This new reporting regime provides a reminder that accountability now extends to the boardroom and beyond, right through the value chain. The tourism industry needs to be ready to meet these expectations with credible data and transparent business practices.”
To help tourism operators and service providers navigate this new landscape, EarthCheck has partnered with international law firm K&L Gates to produce a briefing paper: Australia’s Climate-Related Financial Disclosure Regime.
The paper details:
- Which businesses are now required to report, and when reporting obligations phase in
- What the new reporting requirements involve – from emissions data and scenario analysis to board-level oversight
- How Australia’s new reporting regime aligns with international reporting standards and global trends
- The flow-on effects for smaller operators in tourism supply chains
- Actions businesses can take to meet growing expectations around sustainability reporting
EarthCheck’s Chief Sustainability Officer, Dr Steve Newman, says the industry has a window of opportunity to build capability and respond strategically.
“We’re encouraging operators to act now,” Dr Newman said. “Get familiar with the reporting frameworks, adopt science-based sustainability practices, and begin gathering the data that partners will need.
“Compliance is only part of the story. Businesses that embrace transparency and climate action will be far better positioned to maintain commercial partnerships and compete in global markets.”
Download the briefing paper to better understand your role, assess your readiness and take steps to align with new expectations.
EarthCheck provides Environmental, Social and Governance (ESG) advisory services tailored to the travel and tourism sector, including climate risk analysis; measurement of Scope 1, 2 and 3 emissions; decarbonisation strategies; and support with reporting aligned to international frameworks.
Learn more about how EarthCheck can help with your sustainability reporting.
