ASFI submission to the climate-related financial disclosure exposure draft legislation

The Australian Sustainable Finance Institute (ASFI) welcomes the publication of the Government’s final policy decisions related to Australia’s climate-related financial disclosure requirements, and the opportunity to comment on the Exposure Draft of the Climate-related financial disclosure legislation.

ASFI supports the introduction of mandatory climate disclosures for the Australian market. A robust, useable and internationally aligned climate disclosures framework will help financial institutions to make better decisions, firms to understand and manage climate risk and opportunity, and regulators to combat greenwashing. A key pillar of the sustainable finance policy architecture, climate disclosures will ultimately enhance management of climate risk across the financial system. It will also support greater capital allocation consistent with Australia’s national emissions reduction and adaptation goals.