The Australian Sustainable Finance Institute (ASFI), has today welcomed the strong steps on sustainable finance and investment in the 2024-25 Federal Budget.

ASFI’s 2024-25 Budget Wrap unpacks the announcements to give you the highlights (roses), lowlights (thorns), and rosebuds (opportunities) for accelerating sustainable finance and investment in Australia and the region.

Last week the Government released its Southeast Asia Economic Strategy to 2040. The strategy identifies opportunities to strengthen Australia’s ties with countries in our region to advance mutual prosperity and security. It sets out 75 recommendations, many of which aim to enable greater levels of Australian investment into the region.

ASFI welcomes the release yesterday of the Department of Foreign Affairs and Trade’s (DFAT) Development Finance Review which considers how development finance can support Australia’s foreign policy, trade, security and development objectives.

Read ASFI’s summary of 2023-2024 Federal Budget outcomes.

The Australian Sustainable Finance Institute (ASFI) welcomes the Government’s decision to co-fund ASFI to lead the development of an Australian sustainable finance taxonomy. The taxonomy will provide a common standard for 'sustainable’ finance, channelling more capital to support Australia’s climate transition and achieve Australia’s emissions targets.

Today, leading Australian banks and other financial institutions joined with ASFI, the Energy Efficiency Council, and peak property industry bodies to release a Joint Statement urging state, territory and federal governments to act decisively to deliver healthy, comfortable and energy smart homes for Australians.

Read our joint industry statement on the Government’s proposed Safeguard Mechanism reforms.

This submission collectively represents the voice of Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, the Australian Sustainable Finance Institute (ASFI) and the Investor Group on Climate Change (IGCC). We consider clear, transparent, comprehensive and comparable disclosure of sustainability-related information to be part of the foundation of a well-functioning global financial system.

Today, the Australian Sustainable Finance Institute hosted an event with Australia’s Treasurer, the Hon. Dr Jim Chalmers MP, where he announced the Government’s plans to strengthen climate risk reporting and develop a sustainable finance strategy. In a demonstration of the Treasurer and finance sector’s willingness to work together to enable the finance sector to better support the climate, environment and social objectives of Australia, industry participants at the event issued a Joint Statement on Accelerating Sustainable Finance.

ASFI is pleased to have supported research led by the Conexus Institute together with FTSE Russell and the Responsible Investment Association of Australasia into the impact of the Your Future Your Super (YFYS) performance test.

Read Kristian Fok’s, Chair ASFI, opening remarks from the Sustainable Finance evening in Canberra