The purpose of the Disclosure is to build understanding about the climate-related risks and opportunities that are relevant to Victoria and the actions the Victorian Government is taking to manage the risks and capitalise on the opportunities.
This is the second Disclosure published by the Victorian Government, following the release of the first Disclosure in late 2022. Victoria was the first Australian jurisdiction to release a public-sector climate-related Risk Disclosure aligned with previous global best practice, the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).
The Disclosure is informed by national and international practice, including the newly established Australian Accounting Standards Board’s Australian Sustainability Reporting Standards (ASRS) and the International Sustainability Standards Board’s (ISSB) standards.
The ISSB standards provide a comprehensive global baseline of sustainability and climate disclosures and build on the recommendations of the TCFD. These standards informed the ASRS, which provide Australian entities with an internationally aligned sustainability reporting framework.
2025 Disclosure
The Disclosure demonstrates that the Victoria Government has:
- strong governance and legislative frameworks, which support the effective management of climate-related risks.
- a comprehensive strategy for managing climate-related risks and opportunities, paired with significant investments in the clean energy transition and economy-wide decarbonisation
- robust processes and policies to identify, assess and monitor climate-related risks at the State level
- robust metrics and targets, which underpin Victoria’s transition to a net-zero, climate-resilient future
- committed to working with partners and communities to draw on their expertise and knowledge share of benefits of climate action.
This Victorian Government is committed to ongoing improvements and welcomes feedback on the Disclosure. To provide feedback, please contact us at information@dtf.vic.gov.au.
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