Document ID: chunk:federal_register_of_legislation:F2024L01472:body:0:p69
Version: federal_register_of_legislation:F2024L01472
Segment Type: other
Provision Reference: 
Character Range: 197307–200365

in the manufacturing of these items; and
          2.                     accommodate the potential increase of NF3 in Australia, in particular, considering Australia's policy ambition to be a renewable energy superpower with allied downstream manufacturing industries which may lead to more NF3 emissions given it is used in the manufacture of renewable technologies (e.g. solar panels).[8] Should NF3 emissions become material in Australia in the future, the Clean Energy Regulator and DCCEEW may consider requiring NGER reporters to also report on NF3 to align with the reporting needed under the Paris Agreement.

Converting greenhouse gases into a CO2 equivalent value
 1.             The AASB decided to incorporate in AASB S2 without modification the requirements set out in IFRS S2 paragraphs B21 and B22 with respect to the requirement to convert greenhouse gases into a CO2 equivalent value.
 2.             To align with the reporting requirements related to the Paris Agreement and NGER Scheme legislation, ED SR1 proposed to require an entity to convert greenhouse gases into a CO2 equivalent value using the global warming potential (GWP) values from the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report (AR5), instead of the GWP values from the latest IPCC assessment available at the reporting date (the Sixth Assessment Report (AR6), which is the latest report available at the time of issuing this Standard).
 3.             Considering stakeholders' significant support for closer alignment with IFRS S2, the AASB decided not to modify the requirements set out in paragraphs B21 and B22 of IFRS S2. In making this decision, the AASB noted that in accordance with paragraph B22 of this Standard, if an entity uses appropriate emission factors that have already converted the constituent gases into CO2 equivalent values, the entity would not be required to recalculate the emission factors using GWP values from the latest IPCC assessment available at the reporting date. The Australian National Greenhouse Accounts Factors have already converted greenhouse gases into CO2 equivalent values using the GWP values from IPCC AR5, which is consistent with the Paris Agreement.

Market-based Scope 2 GHG emissions
 1.             The AASB considered but decided not to mandate disclosure of market-based Scope 2 GHG emissions.
 2.             Consistent with the Treasury's second consultation paper, ED SR1 proposed to require an entity to disclose its market-based Scope 2 GHG emissions from the fourth year of applying Australian Sustainability Reporting Standards. Upon considering stakeholder feedback, the AASB decided that such a mandate is unnecessary. This is because:
          1.                     under IFRS S2 (and AASB S2), entities might provide information about their market-based Scope 2 GHG emissions if they consider it would be useful to the users of their climate-related financial disclosures; and
          2.                    if NGER Scheme legislation is updated in the future to require the