Most Australian executives plan to report their greenhouse gas emissions regardless of the political environment, reflecting a broader trend toward corporate climate accountability.
This is according to the latest Executive Benchmark Survey by Workiva Inc, based on responses from 1,600 global leaders, including senior decision-makers in Australia.
The findings were presented at Workiva’s Accelerate 2025 event held in Sydney, with 81% of Australian executives who intend to disclose emissions stating they will proceed irrespective of domestic political developments.
The insurance industry has also reinforced its commitment to climate action.
The Insurance Council of Australia (ICA) reported in December 2024 that 85% of insurers have pledged to achieve net-zero emissions by 2050, while 50% have targeted operational net-zero by 2030. In addition, more than half have incorporated climate metrics into executive compensation.
These industry commitments are part of the ICA’s roadmap, “Towards a Net-Zero and Resilient Future,” which also noted that over half of insurers have already implemented or piloted mandatory climate disclosures ahead of new Australian regulations set to commence in 2025.
However, readiness for these climate obligations remains uneven.
According to the Workiva survey, approximately 33% of Australian business leaders have limited trust in the accuracy of their financial data.
Moreover, 94% indicated that their current reporting infrastructure is not sufficient to meet emerging climate disclosure standards – well above the global average of 73%.
Mark Mellen, industry principal at Workiva, suggested that the heightened concern in Australia may stem from the proximity of regulatory deadlines.
“This could again come down to the imminent nature of climate disclosure regulations compared to other countries; the closer they get, the more pressure they feel,” he said. “But it’s a prime opportunity for those organisations to take a look at upgrading the technologies and tools they can avail of to alleviate that pressure.”
The survey also found high levels of apprehension about emerging technologies.
While 77% of global leaders flagged potential risks in their approach to generative AI, 94% of Australian respondents expressed similar concerns.
Narain Viswanathan (pictured), Workiva’s regional lead for Australia and New Zealand, said companies should not overlook AI’s capabilities despite early-stage uncertainties.
“We’re still in the relative infancy of AI, and with any new technology, there’s understandable caution – but this should not cloud the incredible opportunity it presents with regards to its incredible efficiency and ability to provide actionable intelligence,” he said. “Ultimately, it comes down to trust, and if you trust your data, you can trust how AI interprets it.”
Despite the gaps, most Australian firms recognised the strategic value of combining financial and sustainability information.
Ninety-seven percent of local respondents said integrated data helps identify operational inefficiencies and growth opportunities. The same percentage was reported globally.
Currently, 94% of surveyed Australian organisations practice integrated reporting, with an additional 5% planning adoption within the next year.
Jane Diplock AO, board member at the World Benchmarking Alliance, emphasised that integrated strategies appeal to investors.
“Investors are now focusing on companies that not only deliver solid financial returns but also who correctly assess risks and opportunities and positively contribute to society and the environment. Companies that embrace this integrated approach will likely benefit from stronger investor confidence, a more loyal customer base, and enhanced resilience to future risks,” she said.
