Strategic Executive Workshop: Griffith University’s Early Response to ASRS & AASB S2 Climate Reporting Standards
Background
Griffith University is one of Australia’s leading universities, with a strong focus on sustainability, research, and community impact. While universities are not yet mandated by Australia’s new Mandatory Climate Reporting (MCR) requirements, the Queensland Government has already signalled that public entities will soon need to align with reporting requirements similar to the Australian Sustainability Reporting Standards (ASRS) and AASB S2.
In anticipation of future reporting requirements, Griffith saw early action as an opportunity to maintain its leadership position in the climate space. Understanding that the anticipated reporting regime will require new capabilities, such as long-term climate scenario analysis, supply chain (Scope 3) assessment, and disclosure of climate risks and opportunities, the university sought to build cross-organisational awareness and alignment before deciding on their approach.
The Role of Pangolin Associates
Pangolin have been working with Griffith University for over a decade, assisting with their NGER statutory reporting and carbon measurements. To address Griffith’s MCR challenge, Pangolin designed and delivered an Executive Education & Exploration Workshop tailored to Griffith University. The workshop brought together senior leaders from across the university including finance, risk, sustainability, and campus life to build a shared understanding of Griffiths stance and appetite, and discuss the most appropriate steps forward.
The workshop was structured around three main elements:
1. Introduction to Climate Reporting Legislation & Standards:
- Federal ASRS and AASB S2 requirements, and their alignment with ISSB.
- NSW Government’s mandated reporting and what this signals for Queensland.
- Legislation, AASB S2, ASIC, and the auditing standards (ASSA 5000/5010).
- Director duties, liability modifications, and ASIC’s guidance on sustainability reporting and greenwashing.
2. Climate Reporting in the context of Griffith University:
- Differences between private and public sector obligations, and Queensland’s policy direction.
- The Queensland Climate Adaptation Strategy and sector adaptation plans relevant to higher education.
- Review of what other Australian universities are doing on GHG reporting, decarbonisation, and risk management.
- Griffith’s own contributions, including its role in developing the Climate Risk Management Guideline for Queensland Government departments.
3. Exploration discussion on Capabilities, Implementation and Next Step Options:
- New and challenging aspects of MCR: forward-looking scenario analysis, disclosure of risks and opportunities across the value chain, and the need for traceable, auditable processes.
- Approaches to climate reporting: borderline, cautious, and progressive and what these could mean for Griffith.
- Climate-related Risks and Opportunities (CRO) and defining materiality.Introduction to climate scenario analysis and financial impacts.
- Governance, capability, and resourcing considerations.
Outcomes for Griffith University
The workshop was successful in delivering several tangible outcomes for Griffith:
- Shared understanding: Leaders from multiple disciplines gained a clear view of Australia’s climate reporting landscape and how it applies to Griffith.
- Cross-functional engagement: Finance, risk, sustainability, and operational leaders discussed implications for the university together.
- Clarity on governance: The group considered governance options, such as audit and risk committee oversight, and began scoping the university’s appetite for different reporting approaches.
- Next steps identified: Griffith recognised the need to start assessing climate-related risks and opportunities, engaging in sector action, and resourcing requirements for the upcoming changes.
The workshop was not just an education session for executives, it also provided an opportunity for strategic exploration. By helping Griffith understand what mandatory climate reporting will mean in practice for the university, the workshop allowed for senior stakeholders to align on priorities and most suitable options for next steps.
Value of Early Action
The insights gained through this executive workshop haven’t only strengthened Griffith’s internal preparedness but will also provide guidance for other universities navigating similar challenges. By starting the conversation now, entities can reduce risk, build capability, and take advantage of opportunities before climate reporting becomes mandatory for them.
Start preparing your institution for climate reporting today. Reach out to Pangolin Associates to explore customised climate reporting solutions and discuss your next steps.
Testimonial
“Griffith University worked with Pangolin Associates to navigate the evolving climate reporting landscape with clarity and confidence. Pangolin’s tailored executive workshop built cross-functional understanding, aligned our leadership team, and provided practical next steps – strengthening Griffith’s position as a leader in sustainability and climate resilience.”
Jennifer Boddy, Dean of Sustainability and Rankings at Griffith University