This article is based on the second podcast in our series examining the preparations Australian business need to make for disclosures under the new mandatory climate-related financial reporting scheme. The focus of the podcast is transition plans - the work businesses need to do to turn their climate and net zero strategy into a detailed plan that demonstrates how the business will respond to a changing climate and decarbonising economy.

The conversation was led by Andy Tipping, partner, General Manager and Decarb Tech Lead at ERM Energetics, Australia. To bring both a global and regional perspective, he was joined by Max Crawford and Charlie Knaggs. Max is ERM’s Global Co-Head Climate Risk and Adaptation, based in the UK, and his focus is the nexus between climate change and the transition to net zero. Charlie is APAC Regional Partner for Decarbonisation. Based in Singapore, Charlie works across the Asia Pacific to help companies on their decarbonisation pathways.

As we learn through the discussion, the disclosure is just the tip of the iceberg. 90% of the effort is in the planning, its execution and continuous improvement.

In this episode, we'll speak to the crucial topic of materiality and the challenge of determining the climate impacts that are, and are not, financially material to ASRS disclosures.