On 23 April, our CEO, Kristy Graham appeared before a Senate Committee Inquiry on the Government’s proposed legislation to establish mandatory climate-related reporting for corporates. Kristy reiterated ASFI’s strong support for the legislation, which we see as being a key pillar of the sustainable finance architecture required to provide markets with clear and comparable information on climate-related risks and opportunities.

15 of Australia’s most influential organisations representing business, finance and both retail and institutional investors and shareholders have come together to support the passage of Schedule 4 of the Federal Government’s Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Climate reporting Bill).

The Australian Sustainable Finance Institute (ASFI) welcomes the opportunity to comment on the Australian Accounting Standards Board’s exposure draft climate disclosure standards.

The Australian Sustainable Finance Institute (ASFI) welcomes the opportunity to comment on the Exposure Draft of the Climate-related financial disclosure legislation.

ASFI contributed to a joint submission to the International Sustainability Standards Board (ISSB) on proposed priorities for its next two-year work plan together with 15 peak professional, industry and investors bodies in Australia.

In July 2023, the Australian Treasury invited feedback on its second consultation paper on Climate-related Disclosures. ASFI supports the introduction of mandatory climate disclosures for the Australian market. A robust and workable climate disclosures framework will help financial institutions make better decisions, firms understand and manage climate risk and opportunity, and regulators combat greenwashing.

This submission presents the collective views of the 11 professional, industry, investor and research bodies listed below. We consider clear, transparent, comprehensive and comparable disclosure of sustainabilityrelated information to be part of the foundation of a well-functioning financial system and welcome the introduction of mandatory climate-related disclosure requirements in Australia.

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, together with 19 other peak professional, industry and investor bodies in Australia, recently came together to submit a joint response to the proposed ISSB standards on sustainability and climate reporting.