Zali Steggall (Warringah, Independent) Share this | Hansard source

I rise in support of the amendments moved by the member for North Sydney. They are very much in keeping with amendments that I had also circulated around concerns for the provisions to allow a grace period per se, or an exemption from prosecution in relation to a failure to properly report or mistakes. We know greenwashing is a major problem. As the public becomes more and more aware of the importance of the corporate transition to net zero—reducing their emissions to sustainable levels and reducing the footprint of their supply chains—we need to ensure there is corporate accountability in this space and that major corporations and entities caught by this legislation are, in fact, doing what is necessary.

A lot of these disclosure frameworks and requirements are already in place in a voluntary way and are the general expectation internationally. It's important for us to understand that Australia is not a first mover in this space. We are, in fact, behind similar jurisdictions in relation to this requirement of disclosure. So it would be wrong to think that corporate entities are somehow being caught by surprise by this requirement to properly assess and disclose their exposure to risk, especially in relation to their supply chains.

I think it's important for legislation to find the right balance between putting additional requirements on corporate Australia and acknowledging that for some this might have some transition issues. I understand there's already been negotiation with the government to extend the timelines in which some of the provisions will come into play for the different groups of corporate entities to allow them additional time. With that in mind, I don't see the necessity for a provision which gives a further grace period in relation to misreporting. I very much support that provision being taken out of this legislation.

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