Victorian Government climate resources and guidance

Climate-related risk and opportunities disclosure

The Victorian Government produces two types of climate-related disclosures:

Victorian Government Climate-related Risk Disclosure Statements

The disclosure statement builds transparency and supports investors, lenders, credit rating agencies and the public understand the Government’s approach to identifying and managing climate-related risks and opportunities in Victoria and across government operations. Victoria was the first Australian jurisdiction to publish a public-sector climate-related risk disclosure in 2022 and released its second statement in October 2025.

The 2025 disclosure statement demonstrates improvements in the government’s understanding of the economic and fiscal impacts of climate change, and entity-level climate risk management, whilst further aligning with emerging international and Australian accounting standards.

Further information and the disclosure statement can be found on the Department of Treasury and Finance website.

Government entity environmental reporting

Victorian Government organisations must report their greenhouse gas emissions and other environmental impacts in their annual reports as set out in Financial Reporting Direction 24: Reporting of environmental data by government entities.

Reporting of environmental data by government entities provides transparency of environmental performance year-on-year and enables government to identify and manage exposure to climate-related risks.

Find out more about the Victorian Government’s environmental reporting.

Victoria’s emissions value

To support Victorian Government decision makers to consider the greenhouse gas (GHG) impacts of policies and projects, the Victorian Government has published the Victorian Emissions Value series.

The Victorian Emissions Value series is intended for use in government decision-making processes including economic evaluation in business cases, regulatory impact statements and legislative impact assessments.

Guidance on applying emissions valuation is available on our page: Emissions valuation.

Local Government

Local governments play a critical role helping their communities to reduce emissions and adapt to climate change. Local governments are often the first to respond to localised climate change impacts and their strong connections to the community and local knowledge mean they are often best placed to recognise the need for adaptation at a local scale.

Many of Victoria’s local governments have shown leadership by setting their own emissions reduction pledges and adaptation plans. To acknowledge these actions and as a platform for local governments and the state government to work together towards a net-zero future, councils are submitting voluntary council pledges under the Climate Action Act 2017.

Find out more about council pledges.

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Page last updated: 05/08/26