On May 21st, NetNada launched its License to Operate report in partnership with the University of Sydney, bringing together consultants, sustainability leaders, and reporting professionals to unpack the current state of climate reporting readiness in Australia.
From the start, one thing was clear: companies may be getting better at tracking emissions, but when it comes to governance, strategy, and leadership engagement, there’s still a long way to go.
Here are some key insights from the session.
1. Scope 3 is Coming into Focus
One of the most important shifts we discussed was the rising urgency around Scope 3 emissions—those indirect emissions across a company’s value chain. Businesses can no longer afford to treat Scope 3 as a “Phase 2” item. It’s fast becoming central to climate accountability, and those not preparing to measure and manage these emissions risk falling behind stakeholder expectations.
2. Strategy Still Lags Behind
The research confirmed a consistent theme we've been seeing across the sector: most organisations feel confident with emissions data collection and basic reporting. But strategy is the weakest pillar of the AASB S2 framework.
We’re facing a people problem, not a data one. It’ really about capability and leadership.
3. Boards Need to Get in the Room
A powerful takeaway from our discussions: board-level engagement is essential. In the context of climate-related financial disclosure, the board must understand what’s at stake and be able to act on it.
One participant made an excellent point: in finance, we’re used to forecasting and making decisions under uncertainty. Why should climate be any different?
This point echoed the broader call to action: stop waiting for perfect clarity, act on what we already know.
4. Carbon Pricing as a Strategic Lever
Guest speaker Anna Young-Ferris, a respected sustainability expert with two decades of experience, shared sharp insights into the evolving policy landscape. One highlight was her perspective on carbon pricing: not just as a compliance mechanism, but as a strategic tool to drive long-term value and signal market priorities.
5. Education is the Real Unlock
Across the board, a key theme emerged: upskilling executives is no longer a “nice to have.” Leaders need more than just ESG lingo, they need to understand the business risks of climate change and the strategic levers available to address them.
It’s time to invest in climate competency at the highest levels of leadership.
What’s Next?
The License to Operate report is just the beginning. It’s a snapshot of where we are—and a map of what needs to change.
If your board isn’t talking about climate—or if you’re unsure where to start—we’d love to help.
Let’s move beyond compliance and into climate leadership.
→ Download the License to Operate report
→ Talk to us about executive briefings or reporting readiness workshops
