Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024

The majority voted in favour of Government amendment (4), which means it will now be incorporated into the bill. The amendment is related to scenario analysis.

Amendment text

(4) Schedule 4, item 26, page 259 (after line 21), after subsection 296D(2), insert:

(2A) Subsection (2B) applies if sustainability standards made for the purposes of subsection (1) require the disclosure of:

(a) a scenario analysis (within the meaning given by sustainability standards made for the purposes of this paragraph); or

(b) information derived from a scenario analysis; or

(c) information about a scenario analysis.

(2B) For the purposes of subsection (1), a disclosure of a scenario analysis, information derived from a scenario analysis or information about a scenario analysis is taken not to satisfy that requirement unless the scenario analysis is carried out using at least both of the following scenarios:

(a) the increase in the global average temperature well exceeds the increase mentioned in subparagraph 3(a)(i) of the Climate Change Act 2022;

(b) the increase in the global average temperature is limited to the increase mentioned in subparagraph 3(a)(ii) of that Act.