Transition activities are activities such as mining and industrial production that are emissions intensive, and need significant capital to decarbonise. The lack of common definitions for transition activities is a major barrier to finance and investment in the emissions intensive economies of the Asia-Pacific (including Australia).
Join us as we explore the challenges and opportunities of mobilising finance and investment for transition activities including:
What is transition finance and why is it needed to achieve the Paris Agreement goals?
What are the barriers to transition finance, particularly in the Asia-Pacific?
What approaches are different countries taking to solving this challenge through the development of taxonomies and other sustainable finance tools?
How can Australia leverage its experience to support partner countries, particularly in the Asia-Pacific, secure transition finance?
For those not in Dubai, the event will be live streamed here for any night owls, and available for streaming on our website following the session.
Background
The Australian Government is actively developing its sustainable finance policy and regulatory architecture, with mandatory climate related disclosures being introduced from mid-2024, a partnership with industry to develop a sustainable finance taxonomy for climate mitigation, development of a sovereign green bonds framework well underway to support Australia’s first sovereign green bond issuance in mid-2024 and a range of other measures to support the growth and credibility of Australia’s sustainable finance market included in the draft Sustainable Finance Strategy, released for consultation in November 2023. The purpose of this strategy is to mobilise the private finance and investment needed to support Australia’s transition and ensure the financial risks and opportunities presented by climate change are identified and well managed.
The Australian Sustainable Finance Institute (ASFI) is working in partnership with the Australian Government Treasury to develop a sustainable finance taxonomy for Australia that is credible, useable and internationally interoperable, while reflecting the Australian economy and context. Part of the Australian context is the transition required across many of Australia’s most important economic sectors. To mobilise finance and investment to support Australia’s transition the Australian taxonomy will have a green and a transition category. The methodology to determine which sectors and activities are eligible to be included in the transition category will be released by ASFI on the 6th December. Further information on ASFI’s work on the taxonomy is here.
This event will bring together Government Officials working on sustainable finance policy and regulation across a number of jurisdictions, technical experts involved in the development of taxonomies globally, including Australia’s (ASFI and CBI), and financial institutions who are actively financing Australia’s transition.
