15 July 2022
ABA’s position on the IFRS Foundations ISSB proposed financial disclosures. The Australian Banking Association (ABA) welcomes the opportunity to provide feedback to the International Sustainability Standards Board (ISSB) on the Exposure Draft on IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information ([Draft] IFRS S1) and Exposure Draft IFRS S2 Climate-related Disclosures ([Draft] IFRS S2). We support a global approach to the development of sustainability disclosure standards through the ISSB as the global body to issue the standards. Further, we support the climate-first approach adopted by the ISSB. We see great value in the ISSB issuing a forward workplan (or consulting on a proposed forward workplan) to enable entities to prepare for future sustainability disclosure requirements.Download PDF
The ABA supports the introduction of mandatory climate-related financial disclosures aligned with the ISSB, and we feel that the proposed model generally strikes an appropriate balance. The submission makes key points across six areas: phased approach, reporting content, reporting location, assurance, continuous disclosure and the modified liability approach.
The ABA’s submission to the ACCC’s Retail Deposits Inquiry 2023. Australian banks continue to provide a competitive, dynamic, and innovative marketplace for deposits. Banks are also cognisant of the variety of uses for deposit accounts and strive to provide products and services that meet the needs of customers.