ASFI April update
As many people make their way back to work after the Easter break, I’m pleased to be able to provide you with an update below on our project work over the past month and an update on some of our events, past and upcoming.
Australian Sustainable Finance Taxonomy
Our work on Phase 1 of the taxonomy project is well underway. We are currently recruiting for a Project Manager/Senior Project Manager to work with ASFI to drive the delivery of the Sustainable Finance taxonomy. This role provides the opportunity to shape sustainable finance policy and regulation in Australia. Should you have any contacts within your network who you think might be suitable, please share the position and encourage them to apply.
We have also had some of our members interested partnering with ASFI on this important piece of work. We are really encouraged by the level of skill and knowledge we have at the table already, and want to recognise the organisations and those individuals for their leadership in driving this work forward. We look forward to publicly announcing those individuals and organisations who will play a key role in our taxonomy work in the coming month.
We have also received a significant number of applications for our Technical Advisory Group and we look forward to completing the selection process and sharing those details with you soon.
None of this work would be possible without our members; their operational funding has provided us the opportunity to get started with Phase 1 of this project. Beyond their financial support, they have also provided critical leadership, insight and expertise. We look forward to their continued support as members, through the Project Steering Committee or the Technical Advisory Group.
TNFD
Earlier this month we partnered with RIAA and Deloitte to hold a TNFD briefing with Tony Goldner. We received a lot of great feedback on the session which provided an overview of the TNFD beta framework, followed by a panel discussion that highlighted how TNFD is driving interest across the financial sector and the real economy on nature related risks and opportunities, the capability that needs to be built to in this area and how collaborative efforts can support implementation of the TNFD recommendations. Our thanks to Deloitte for hosting this event.
We are pleased to be able to support ASFI Members who are interested in piloting the beta framework through a number of workshops run with the Department of Agriculture, Water and Environment, in conjunction with another ASFI member, KPMG. We will also be working with RIAA, ACSI and ABA on this to bring a whole of finance sector perspective to these issues and provide a coordinated approach to financial sector engagement.
These workshops will take place between May and July this year, and will be focused around four pillars:
Definitions
Climate-nature nexus and alignment with the TCFD
Nature-related risk and opportunity analysis
TNFD beta framework v0.2
Please get in touch with Natalie if you’re from a member organisation and are interested in participating in these workshops.
Events
It’s been a busy month with events, with more planned for the next couple of months.
Kristy spoke at the RIAA conference in Sydney at the start of month on a panel on Australia’s evolving policy landscape on Responsible Investment.
One of the key themes coming through many sessions at the conference was that responsible investors need to get more engaged in policy and regulation, not just keeping up to date with the many developments, but more actively shaping these. ASFI was established as a permanent institution for this very reason – to provide a bridge between policymakers and the finance sector to drive forward Roadmap implementation. Our expanding work with regulators, federal and state governments demonstrates our collaborative, solutions focused and pragmatic approach to this work.
Along the same theme, last week we held a our first ASFI Member/Government roundtable where we brought together ASFI members and senior officials from the Department of Industry, Science, Energy and Resources, Treasury, the Department of Prime Minister and Cabinet, the Department of Foreign Affairs and Trade and the Department of Agriculture, Water and the Environment to discuss financing the transition to net zero.
It was a very productive discussion with issues such as disclosures, taxonomies, clean technology and the use of catalytic capital by government some of the themes discussed. It marked the starting point of an enhanced engagement between ASFI and the federal government on this and other topics under our work on cross-sectoral collaboration and leadership.
Another event being planned under our work on cross-sectoral collaboration, is being planned for late-May. Together with Melbourne University, we will hold an event focusing on building sustainability capability within finance and business, and the role of Universities in this.
We will have Professor Mette Morsing (Head of Principles of Responsible Management Education) as our special guest, followed by a panel discussion highlighting perspectives from industry and universities. If you would like to register your interest please contact Natalie.
Our TNFD workshops will kick off in mid-May
We are also planning an ASFI member event in Melbourne in mid-May – further details to follow
If you’re keen to be more involved in ASFI projects, or you would like to be a part of some of our member only ASFI events, please get in touch. We’re now accepting new member applications and happy to provide you with more information on what ASFI membership involves.
Yours sincerely
Kristy Graham, Executive Officer