NSW will require government entities to publish climate-related reports to improve transparency and track climate risks. The new rules cover departments, agencies, and state-owned corporations. Reports will show how these entities manage risks such as heatwaves, bushfires, and floods.
The reporting focuses on four areas: governance, strategy, risk management, and metrics and targets. This framework is designed to provide clear information on how government actions address climate challenges. Investors can use the disclosures to understand climate risks and support private investment in climate solutions.
The rollout will take place over three years. The first 29 entities, including Essential Energy, Sydney Water, NSW Health, Transport for NSW, the Department of Education, NSW Police, and the Land and Housing Corporation, will publish disclosures in their 2024-25 annual reports. Another 30 entities will follow from 2025-26.
The reforms are part of a broader update to annual reporting. Entities will be classified into three groups based on size, risk, and function. Some will produce full annual reports. Others will provide a shorter Annual Information Statement. This approach aims to reduce reporting burdens while maintaining useful information.
NSW will publish a whole-of-government climate-related financial disclosure next year. The new measures aim to increase accountability, support decision-making, and show the state’s commitment to managing climate risks.