ASFI Newsletter – March
ASFI hosted several events for members and partners over the past month. Highlights included a fascinating Lunch and Learn exploring the role of gas in the net zero transition (abridged recording available here).
We are also excited to be making headway on our 2024 work program. Read on to learn more about our progress and upcoming events and opportunities.
2024 Work Program
Enabling Sustainable Finance
Sustainable finance taxonomy
In the lead up to the initial phase of public consultation on the development of the Australian taxonomy, which is expected to commence in May 2024, the taxonomy advisory groups (TAGs) and Taxonomy Technical Expert Group (TTEG) have been working with ASFI and its consortium of technical experts to continue to scope, classify and develop draft technical screening criteria for the first three priority sectors: electricity generation and supply; minerals, mining and metals; and construction and the built environment.
The TTEG met on 13 March 2024 to finalise the draft headline ambitions for the Australian taxonomy’s six environmental objectives and its draft core social pillars, under which Minimum Social Safeguards (MSS) criteria will be developed. The TAGs and TTEG will meet several more times before May 2024 to finalise the draft technical screening criteria for the first three priority sectors. ASFI will be seeking feedback on these components of the Australian taxonomy during the initial phase of public consultation. Read more
Policy Engagement
ASFI provided comment on the Australian Accounting Standards Board’s (AASB) exposure draft climate disclosure standards. We support the introduction of a robust, useable and internationally aligned climate disclosures framework. Our submission affirms this support and provides feedback to encourage greater alignment with the ISSB baseline climate reporting standard. Read more
Finance Sector Leadership
A key priority of our Finance Sector Leadership work this year has been developing Australia’s first Sustainable Finance Capability Framework with the support of our Capability Reference Group. The framework sets out the key skills required to perform various roles in sustainable finance, with the aim of accelerating the growth of sustainable finance skills in Australia. In early April, we will be releasing the draft Capability Framework for public consultation – keep an eye on your inbox and our LinkedIn for further updates.
Natural Capital
Earlier this month, we hosted a workshop for ASFI members on the EPBC Act reforms to unpack the proposed reforms and their potential implications for private capital, and outline opportunities for engagement. Watch an abridged version here
First Nations and Finance
ASFI welcomed the opportunity to provide comment on the Government’s Indigenous Procurement Policy (IPP) consultation review earlier this month. Government procurement historically, and to this day, is an important lever to enhance economic participation in the Indigenous economy. However, there is need for broader consideration to address foundational barriers and ensure that the reforms enhance participation rates and empower First Nations. Read more
Sustainable Finance Solutions
On Thursday 22 February, CEO Kristy Graham attended a private roundtable with Minister for Climate Change and Energy, Chris Bowen, and UNFCCC Executive Secretary Simon Steele, with a strong focus on international climate finance. Australia is still working to secure the rights to host COP31 in 2026 and ASFI continues to work with our members and partners across the finance sector and beyond to support this.
Events and Opportunities
Events
We welcome your participation in the sustainable finance events below. You can also learn about other industry events through our Sustainable Finance Events Calendar.
Opportunities
Visit our Jobs Board to learn about the latest opportunities in sustainable finance. If you would like to advertise any job opportunities to ASFI’s network of sustainable finance and responsible investment professionals, please click here.