A changing landscape: Climate change risk disclosures and governance of the ASX50 in 2020

Written by Emma Newnham, Joseph Muraca and Will Heath. 

While many things slowed down due to the pandemic in 2020, focus on climate change and climate change risk disclosures and ESG definitely heated up.

KWM's climate change report looks at the trends and data for climate change risk disclosures and governance of ASX50 companies in 2020. We are excited to share our comprehensive analysis of this rapidly-intensifying area of corporate and public attention.

Our key observations are captured in this report, including:

• the ASX50 mostly voluntarily reported on climate change risk in line with global frameworks and standards
• most of the ASX50 have made measurable climate change targets and commitments, and disclose progress against those targets and commitments
• many of the ASX50 are linking executive remuneration and climate change, reviewing industry associations for alignment on climate change and obtaining assurance on their climate change disclosures from assurance practitioners.  

The report also includes commentary on developments so far in 2021, as well as some predictions for what may lie ahead.