Corporations Act 2001

The sustainability report for a financial year consists of:

the climate statements for the year; and

any notes to the climate statements; and

any statements required under subsection (5); and

any notes to the statements mentioned in paragraph (1)(c) required under subsection (5); and

the directors’ declaration about the statements and the notes.

Subject to section 296B, the climate statements for the year are the climate statements in relation to the entity required by sustainability standards made for the purposes of this subsection.

A sustainability report must include the following notes to the climate statements:

any disclosures required under subsection (4);

any notes, required by sustainability standards made for the purposes of this paragraph, in relation to:

the preparation of the climate statements; or

anything included in the climate statements; or

other matters concerning environmental sustainability;

notes containing any other information necessary to ensure that the climate statements and notes together make the disclosures required by section 296D.

The Minister may, by legislative instrument, require a sustainability report to include specified disclosures in relation to:

the preparation of the climate statements; or

anything included in the climate statements.

For the purposes of paragraphs (1)(c) and (d), the Minister may, by legislative instrument, require a sustainability report to include:

statements relating to financial matters concerning environmental sustainability; and

notes to the statements.

The directors’ declaration is a declaration by the directors as to whether, in the directors’ opinion, the substantive provisions of the sustainability report are in accordance with this Act, including:

section 296C (compliance with sustainability standards etc.); and

section 296D (climate statement disclosures).

The declaration must:

be made in accordance with a resolution of the directors; and

specify the date on which the declaration is made; and

be signed by a director.

Section 1228 deals with directors’ resolutions for CCIVs.