IMB Bank: Gap Analysis and Roadmap for Reporting to ASRS

Key first steps to prepare IMB Bank for the upcoming mandatory climate-related financial disclosures and Australian Sustainability Reporting Standards (ASRS).

16th July 2024

“Undertaking the gap analysis was a key first step to prepare for the new mandatory climate-related financial disclosure regime. Anthesis’ work provided us with a clear roadmap to ensure compliance in FY26 and (beyond…..).”

Ian Witheridge, Senior Manager, Finance & ESG IMB Bank

Established in 1880, IMB Bank has been helping people achieve their financial goals for over 140 years and is one of the most enduring financial institutions in Australia.

As part of its ongoing commitment to environmental sustainability, IMB Bank engaged Anthesis to support it with reviewing its current climate risk practices and disclosures, against the [draft] Australian Sustainability Reporting Standards (ASRS).

The aim was to enable IMB Bank to understand what is required to fully align with the Australian government’s proposed mandatory climate-related financial disclosure regime and develop a roadmap for actions and priorities.

Firstly, Anthesis conducted a detailed gap analysis of IMB Bank’s climate-related works to date against the [draft] ASRS.

In the second stage of the project, Anthesis prepared a high-level roadmap to support IMB Bank towards practical next steps to progress towards full alignment.

This decision-useful roadmap identifies priority actions for IMB Bank to focus on. It also highlights the types of resources and stakeholders for each action and ensures it can be integrated into the business’ day-to-day planning and implementation.

The final report outlines short- to long-term progress steps to fully align with the ASRS and will serve to guide IMB Bank’s climate-related priorities and actions over the coming years.