Group 1 is the first cohort of entities required to prepare a sustainability report under the Australian Sustainability Reporting Standards (AASB S2), for financial years commencing on or after 1 January 2025. Group 1 captures the largest entities and NGER reporters above the publication threshold.
First-year reports must include climate-related governance, strategy, risk management, and metrics and targets, including Scope 1 and Scope 2 greenhouse gas emissions. Scope 3 emissions are not required in the first reporting year, and modified-liability protections apply to certain forward-looking and Scope 3 statements during the phase-in.
Entities meeting two of three size thresholds (revenue ≥ $500m, gross assets ≥ $1bn, or ≥ 500 employees), and NGER reporters at or above the 50,000 t CO₂-e publication threshold.
For financial years commencing on or after 1 January 2025.
An entity meeting at least two of: revenue $500m, gross assets $1bn, 500 employees — or an NGER reporter above the 50,000 t CO₂-e publication threshold.
No. Scope 3 disclosure is not required in the first reporting year, and modified-liability protections apply to certain Scope 3 and forward-looking statements during the phase-in.
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Source: aasb.gov.au · Verified 2026-05-07. Indicative only — not legal or accounting advice.