The Australian Sustainability Reporting Standards (ASRS S1 and S2), effective for Group 1 entities from 1 January 2025, mark the most significant expansion of Australia’s corporate reporting regime since IFRS adoption. This panel presents the first cross-cohort analysis of Australia’s inaugural ASRS reporting season, drawing on a unique dataset of 250+ publicly available and privately lodged sustainability reports coded against a 400-point taxonomy spanning governance, strategy, risk management, metrics and targets, and related assurance outcomes. Combining academic and industry perspectives, the session will examine emerging reporting patterns, disclosure quality, use of climate scenarios, transitional reliefs, assurance practices, and the methodological choices organisations are making in areas requiring judgement. Attendees will gain an early evidence-based view of how the standards are being operationalised in practice, the implications for future reporting and assurance expectations, and key insights relevant to researchers, regulators, preparers, auditors, and entities preparing for upcoming Group 2 and Group 3 implementation.