Meet ASRS S2 with confidence, without over-engineering year one
Trace combines AI-powered software with expert advisory support, so Australian mandatory reporters can deliver audit-ready AASB S2 disclosures in a fraction of the time and cost of traditional consulting.
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Trusted by Mandatory Reporters
ASRS S2 compliance, explained in 60 seconds
ASRS S2 is Australia's mandatory climate-related financial disclosure standard, issued by the Australian Accounting Standards Board as AASB S2. It applies in three phased cohorts
Group 1
Financial years starting on or after 1 January 2025
Entities with more than
-> $500 million revenue,
-> $1 billion assets, or
-> 500 employees, and NGER publishers above the threshold.
Group 2
Financial years starting from 1 July 2026
Entities with more than
-> more than $200 million revenue,
-> $500 million assets, or
-> 250 employees, plus larg super funds
Group 3
Financial years starting from 1 July 2027
Entities with more than
-> more than $50 million revenue,
-> $25 million assets, or
-> 100 employees, and NGER publishers above the threshold.
Each cohort must disclose governance, strategy, risk management, and metrics and targets relating to climate, alongside their financial statements.
Disclosures are externally assured under ASIC oversight.
Trace helps mandatory reporters deliver these disclosures using a Minimum Viable Compliance method: a fixed-scope, audit-ready year-one filing, with a modular upgrade path for year two and beyond.
Get started with your ASRS readiness
Thousands of businesses will need to comply with ASRS S2 reporting in 2 years. But, you don’t need to do it all now - Trace helps your understand your position and get ready for compliance.
Mandatory climate disclosures are here
Australia’s ASRS (Australian Sustainability Reporting Standards) require thousands of businesses to disclose climate-related financial risks under AASB S2. If your company has over 100 FTE or $50M+ in revenue or assets, you’ll need to start preparing now.
Trace helps you:
✅ Build audit-ready, finance-aligned climate disclosures
✅ Avoid last-minute reporting bottlenecks
✅ Meet investor, board, and customer expectations confidently
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Get a clear
picture of your AASB reporting readiness
Trace’s Readiness Toolkit helps you lay the groundwork for ASRS compliance. You’ll get accurate carbon emissions data, a gap analysis aligned to AASB S2, and a practical decarbonisation plan to move forward with confidence.
✅ Emissions reporting: Scope 1, 2, and 3 emissions, calculated using audited methodologies and local factors
✅ Gap analysis: Identify how your current disclosures stack up against AASB S2 requirements
✅ Decarbonisation plan: Build a realistic decarbonisation roadmap to show progress, not just compliance
Make Climate Risk Actionable - Not Academic
"I did a lot of due diligence - demos, discovery calls - and we chose Trace because they provided great software, were transparent, and understood the Australian reporting environment.."
Head of Sustainability at Top 500 company
Build out your full ASRS-aligned disclosure
Once your baseline is in place, Trace helps you prepare the rest of your ASRS response - including climate risk analysis, scenario planning, and your formal disclosure documentation.
✅ Climate Risk Assessment: Identify, assess and document risks that could affect enterprise value
✅ Scenario Planning: Model financial impacts under different climate futures
✅ Disclosure Templates: Align with AASB S2’s structure and language, ready to publish alongside your financials
Be ready for audit & assurance
Trace makes your climate disclosures defensible, verifiable, and audit-ready. From version control to embedded methodologies, we provide what auditors, boards and regulators expect.
✅ Carbon accounting audit report: Fully reconciled data, clearly documented methods and assumptions
✅ ASRS/AASB S2 assurance support: Help your auditors validate your climate disclosures with ease
Short video
Learn how Paddy Pallin are tackling ASRS S2
✔️ The most critical things you need to do, and when should to start?
✔️ Where are most businesses getting stuck, and how can you avoid the same?
✔️ How to get internal buy-in early and avoid last-minute stress?
✔️ What kind of support you will need, and how to choose the right partner?
Join thousands of businesses preparing for ISSB reporting
✔️ Complete ISSB compliance roadmap, with detailed breakdown
✔️ Strong executive buy in and understanding on the requirements
✔️Ahead of compliance requirements and audit ready reporting frameworks setup
“We’re confident about what’s ahead.”
Group 1 reporter in construction & engineering. With no in-house carbon expertise, they used Trace to complete a full FY24 carbon inventory, run a gap assessment, and prepare a roadmap for compliance - all within weeks.
Free ASRS resources to help you upskill & prepare
Just learning about ASRS
The ASRS Strategy On A Page
See what others are doing?
The ASRS Pulse Report 2025
Ready to start implementing
The ASRS Prep pack 2025
Asses your current position
AASB readiness assessment (free!)
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