United Nations (UN) General Assembly in 2015 formally adopted “Transforming our world: the 2030 Agenda for Sustainable Development” (Agenda 2030) as a plan for achieving a better future for all. Agenda 2030 is based on adoption of the Sustainable Development Goals (SDGs) comprise of 17 Goals, 169 targets and 232 indicators.
Together the 17 SDGs reflect the three (3) dimensions of sustainable development. These align well with and are supported by the ESG (environmental, social and governance) framework and reporting standards. The SDGs can be subdivided in five (5) main themes: humankind, planet, prosperity, peace and partnership.
In-Touch Advisory supports the important work of ISO/TC 267 in the development of the ISO 41000 series of Facility Management (FM) standards, and provided the AIQS representative to Standards Australia’s MB-022 committee. Specifically, we see the ISO/TR 41019 project in defining the alignment of FM standards with the SDGs as a vital contribution for managing a more productive, sustainable and liveable Built Environment for all.
ISO/TR 41019:2024 “FM’s role in Sustainability, Resilience and Adaptability” provides concise and practical guidance for built environment professionals.
Once published ISO/TR 41019:2024 shall be available via the ISO Store. In Australia locally adopted FM Standards are available via Standards Australia.
In the meantime, our recent related publications. presentations and webinars are in our Insights section.
In-Touch Advisory is registered at ACT4SDGs. We encourage our industry colleagues and clients to embrace the SDGs and would be happy to support others in doing so, please Contact us.
SDGs explained in 2-minutes and additional details from the UN (SDGs.un.org/goals).
Sustainability Reporting: For property investors, owners, occupiers and managers there are an array systems / reporting tools addressing a wide range of issues from the UN’s Principles for Responsible Investment (PRI) to the complexities of Environmental, Social and Governance (ESG) and Sustainable Development Goals (SDGs) frameworks. When it comes to managing our built environment , approaches could include: the reporting provisions of GRI, SASB, IFRS/ISSB, GRESB, etc. along with ratings considerations of BREEAM, GreenStar, LEED, NABERS, PCA Grades, WELL, etc. with “no one size fits all” approach suiting all industry sectors and organisations.
Locally, the NSW Climate Change (Net Zero Future) Act 2023 No. 48 has been passed for progressive implementation commencing on 1 July 2024. This mandatory sustainability reporting reflects the state’s whole-of-government climate action for net zero by 2050.
Source: Climate change impacts on our built environment | AdaptNSW
NSW Climate Change Adaptation Strategy (figure 2) June 2022.
The Act sets a clear path to 2050 with emissions reduction targets, with comprehensive guiding principles while continuing to improve resilience and accountability. Section 10 of the Act establishes an “adaptation objective” of making NSW more resilient to a changing climate.
For more information also refer to NSW government’s SEED Initiative (or Sharing and Enabling Environmental Data portal, including the Net Zero Emissions Dashboard) which serves as the central resource for reliable and readily accessible collaborative environmental data in NSW.
Nationally as at March 2024, the Australian Treasury concluded it’s public consultation outlining the proposed phased implementation of mandatory climate-related disclosures in Australia for all entities (subject to size thresholds) preparing annual reports under the Corporations Act. This would see Australia implement new requirements consistent with other comparable jurisdictions internationally.
Treasury has proposed a phased approach to the reporting requirements n the basis of an entity’s size or level of emissions. The first group required to report on financial years commencing on or after 1 July 2024. The proposed timeline for mandatory reporting is as follows:
Source: Treasury c2024-466491-policy-statement: Mandatory climate-related financial disclosures (treasury.gov.au)
Currently the first public draft of the Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information are available. There are three (3) draft standards:
- ASRS 1 [Draft] General Requirements for Disclosure of Climate-related Financial Information;
- ASRS 2 [Draft] Climate-related Financial Disclosures, and
- ASRS 101 [Draft] References in Australian Sustainability Reporting Standards.
The exposure drafts of ASRS 1 and ASRS 2 are substantially aligned to the IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB) in June 2023:
IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information; and
IFRS S2 Climate-related Disclosures.
This is a summary only of publicly available information as at March 2024.
Please feel free to connect with us if you require advice on ISO/TR 41019:2024 or Sustainability Reporting.