Question

Explain in details what are the factors that forces Australian Companies to disclose environmental and climate change information. Provide examples to substantiate your answer. Kindly do not copy and paste .

Answer 1

Since environmantal cost are genrally hidden in general overheads/expenses of a company, it becomes deficult for management to identify opportunities to cut but nonetheless it is crucial for them to do so to preserve natutal resources. A listed entity should disclose whether it has any material exposure to economic, environmental and social sustainability risks and, if it does, how it manages or intends to manage those risks published in 2014 and taking effect from the first full financial year commencing on or after 1 July 2014 and also  Some of the State and territory legislation which enforce companies are as follows:

• Australian Capital Territory. The Environmental Protection Act 1997 (Australian Capital Territory).

• Northern Territory. The Waste Management and Pollution Control Act 1998 (Northern Territory) and Environmental Assessment Act 1982 (Northern Territory).

• New South Wales. The Protection of the Environment Operations Act 1997 (New South Wales).

• Queensland. The Environmental Protection Act 1994 (Queensland).

• South Australia. The Environment Protection Act 1993 (South Australia).

• Tasmania. The Environmental Management and Pollution Control Act 1994 (Tasmania).

• Victoria. The Environment Protection Act 1970 (Victoria)

• All jurisdictions in Australia consider a breach of environmental law a serious incident with significant consequences, including criminal sanctions in some circumstances.

• Western Australia. The Environmental Protection Act 1986 (Western Australia) (Western Australian EP Act).