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those documents.
 6.             When the AASB was developing ED SR1, Treasury's Exposure Draft Treasury Laws Amendment Bill 2024: Climate-related financial disclosure (January 2024) had not yet been published. The AASB proposed modifications to the requirements in IFRS S1 and IFRS S2 after considering Treasury's second Consultation Paper, Climate-related financial disclosure (June 2023), and informal feedback from stakeholders, including the Treasury, the Australian Government Department of Climate Change, Energy, the Environment and Water (DCCEEW) and the Commonwealth Scientific and Industrial Research Organisation (CSIRO). At the time, the AASB discussed whether to defer the publication of ED SR1 until it had considered the Treasury's exposure draft legislation and undertaken targeted outreach to gauge stakeholders' preliminary views on some of its proposals. However, the AASB decided it was important to publish ED SR1 in October 2023 to enable the issuance of the final Australian Sustainability Reporting Standards in time for implementation in annual periods beginning on or after 1 July 2024, which was then the anticipated first application date for mandatory climate-related financial disclosures by the first group of entities.
 7.             When deciding to publish ED SR1 ahead of the Treasury's exposure draft legislation and targeted stakeholder outreach, the AASB acknowledged that it might need to reconsider some of its proposals in light of the Treasury Exposure Draft (and the ultimate legislation) and stakeholder feedback on ED SR1. In particular, the AASB noted that its proposed modifications to the requirements set out in IFRS S2 for measuring greenhouse gas emissions and temperature outcomes for scenario analysis would likely require further consideration.
 8.             ED SR1 was exposed for 130 days, with a comment period to 31 March 2024. Extensive outreach was conducted on the proposals in ED SR1, with a total of 500 attendees at the in-person roundtables in Adelaide, Brisbane, Canberra, Geelong, Hobart, Melbourne, Newcastle, Perth and Sydney, as well as virtual roundtables.
 9.             Much of the feedback on ED SR1 favoured the requirements in IFRS S2 being incorporated in Australian Sustainability Reporting Standards with minimal or no modifications. Many stakeholders were of the view that there are few, if any, Australian-specific circumstances that would warrant departure from the baseline of IFRS S2 in accordance with the AASB Sustainability Reporting Standard-Setting Framework (September 2023). The AASB also noted that a closer alignment to the IFRS S2 requirements would be consistent with the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (the Act).
10.             In May–September 2024, the AASB discussed stakeholder feedback and reconsidered its proposed modifications to the baseline requirements. The AASB decided to issue two Australian Sustainability Reporting Standards, as described below:
          1.                     the voluntary Standard AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information, to incorporate all