Environment Bulletin - September 2024
Australia – Legislation for climate-related financial disclosure passed
The Australian Government has passed legislation that will establish Australia’s climate risk disclosure framework and impose standardised mandatory climate reporting requirements for businesses. These requirements will commence from 1 January 2025 for Australia’s largest companies and financial institutions, and will be phased in for other large businesses over time.
Read more from the Treasury portfolio here.
New South Wales – Bill to reform biodiversity offsets scheme introduced
The New South Wales Government has introduced the Biodiversity Conservation Amendment (Biodiversity Offsets Scheme) Bill 2024 into Parliament, which proposes reforms to the Biodiversity Offsets Scheme to protect biodiversity, increase transparency, and provide clearer guidance for industry, among other things. Stakeholder consultation will be undertaken throughout the process.
Read more from Environment and Heritage here.
Western Australia – Bill to expand WA’s national park estate introduced
The West Australian Government has introduced the Reserves Bill 2024 to Parliament to expand WA’s national park estate. The Bill aims to boost the Government’s conservation efforts by creating a new 3,200 ha Class A reserve, which carries the highest form of protection under the Land Administration Act 1997.