Since the late 1980s,an increasing number of minerals and energy companies are making environmental and social disclosures.The majority of these are voluntary; however,there is a requirement to disclose:
A) a separate environmental report that details the company's environmental management system where it is extracting minerals under licence from an international mineral rights holder.
B) details of compliance with government environmental regulations relevant to the company in line with best practice corporate governance.
C) details of the entity's performance in relation to environmental regulation in the company's Directors' Report if it is subject to any particular and significant environmental regulation under a law of the Commonwealth or of a state or territory.
D) disclosure of corporate environmental and social performance in a separate report where the shares of the company are less than 50% Australian owned.

Question

Quizplus · Accepted Answer

The requirement to disclose environmental regulation performance in the company's Directors' Report applies to companies that are subject to significant environmental regulation under the law of the Commonwealth or a state or territory. This is a mandatory requirement as per the Corporations Act 2001.

Answer: B
 Disclosure of compliance with government environmental regulations is a mandatory requirement for companies operating in Australia. It is in line with best practice corporate governance and helps in promoting transparency and accountability.

Option A and D are incorrect as they are not mandatory requirements for environmental and social disclosures in the minerals and energy sector in Australia.

Since the Late 1980s,an Increasing Number of Minerals and Energy