This discussion paper is about the use of scenario analysis by companies and other financial actors to manage, disclose, and regulate climate-related risks and opportunities in Australia. It suggests how Australian practice can be consistent with our international climate commitments under the Paris Agreement and with the leading international framework for robust climate disclosures, the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). Its intent is to accelerate discussion between policymakers, business, investors, and regulators so that practices and capabilities for scenario analysis are fit for purpose.