ASFI Newsletter - July
Last month, ASFI called for expressions of interest from senior leaders across Australia to join the Australian Taxonomy Technical Expert Group (TTEG), which will guide the development of Australia’s sustainable finance taxonomy. In case you missed it, on June 23, we hosted a public webinar to answer any outstanding questions. The expression of interest process will remain open until COB this Friday, 7 July 2023.
Last week, we were pleased to host an event; ‘Harnessing Technology for better Sustainability Disclosures’. Expert panellists from the IFRS Foundation and representatives from Australia, Singapore, and the European Union, showcased how leading jurisdictions are using technology to support high quality disclosures that can improve financial decision-making. Please see the webinar recording in case you missed this popular event.
ASFI 2023 Work Program
Enabling Sustainable Finance
Sustainable Finance Taxonomy
Phase 2 of the Taxonomy project has officially commenced. In this phase taxonomy screening criteria will be developed for priority sectors, and associated technical work on data requirements, methodology for incorporating transitional activities, minimum social safeguards and a ‘Do No Significant Harm’ framework. More information on the development work program will be made available on our website as it is developed.
As noted above, last month we called for expressions of interest from senior leaders across Australia to join the Australian Taxonomy Technical Expert Group (TTEG). The EOI process closes this Friday 7 July 2023.
TNFD and Natural Capital
In case you missed it, last month ASFI and Chartered Accountants Australia and New Zealand provided feedback to the TNFD via a joint submission. The feedback is focused on ensuring useability and uptake of the framework which will be critical to the TNFD achieving its objectives.
ASFI also made a submission to the Government’s Nature Repair Market Bill inquiry and report earlier this month.
Policy Engagement
The next wave of policy consultations has commenced! ASFI made a submission to the Climate Change Authority’s “Setting, tracking and achieving Australia’s emissions reduction targets” consultation which calls for Australia’s 2035 nationally-determined contribution (NDC) to be aligned with a 1.5-degree pathway; makes recommendations for the CCA’s development of sector decarbonization scenarios; and proposes the National Greenhouse Emissions Reporting Scheme be updated as a ‘one-stop shop’ for corporate emissions reporting. Read more here.
ASFI is working with other peak bodies to provide input to the ISSB’s consultation on its forward priorities and developing our own submission in response to Treasury’s Mandatory Climate Disclosure Paper.
We welcome the publication of final ISSB baseline standards for sustainability and climate reporting, establishing a common language for companies to report the effect of climate-related risks and opportunities on a company’s prospects.
First Nations and Finance
To support the finance sector to upskill and navigate resources on the upcoming referendum, we have launched a section on our website that draws together credible and reputable resources on the Uluru Statement, the Voice to Parliament and the Referendum. Please pass this on to anyone looking to upskill in advance of what will be an important opportunity to support and advance Reconciliation in Australia.
We are also continuing to progress scoping, stakeholder engagement and partnership building to inform and progress our First Nations and Finance work. We expect to be able to make some more announcements on how people can get involved in the coming months.
Sustainable Finance Solutions
ASFI is pleased to be working with the Department of Foreign Affairs and Trade (DFAT) to assess Australian financial institutions’ intentions, interests and capabilities to invest in or finance climate and clean energy activities in South and Southeast Asia. This work will establish a foundation of evidence that could be drawn on by DFAT to create fit for purpose investment structures for climate and clean energy in the region. Please get in touch if you’re interested in being part of this work and haven’t already been involved.
Finance Sector Leadership
With the rapid pace of change in sustainable finance, navigating the course offerings and learning pathways is difficult for people who want to build their capability and move into sustainable finance. At present there is no formal accreditation system for sustainable finance courses to ensure the credibility, quality, and applicability of existing courses in Australia.
Earlier this week we were pleased to announce further development of our Finance Sector Leadership strategy work by announcing that we are seeking to establish a Sustainable Finance Capability Reference Group to develop principles for the accreditation of sustainable finance courses. EOIs are open until 4 August 2023, for further information please see here.
Events and Opportunities
We welcome your participation in upcoming public events hosted by ASFI. You can also learn about other upcoming industry events via our Sustainable Finance Events Calendar.
Events
Save the date October 24: Australian Sustainable Finance Summit, Hilton Hotel Sydney. Australia’s premier event in sustainable finance will bring together leaders from across finance, policy, and civil society to share their insights and identify opportunities to accelerate progress. Early bird tickets will be released shortly – keep an eye on your inbox and our LinkedIn for further details. There are also a limited number of sponsorship opportunities now remaining, please contact Natalie to discuss further.
In case you missed it
Public Information Session: EOI for the Australian Taxonomy Technical Expert Group
Webinar: Harnessing technology for better sustainability disclosures
Job Opportunities
A friendly reminder to subscribe to ASFI’s ‘Sustainable Finance Job Alerts’, where you will receive updates about new opportunities on our Sustainable Finance Jobs Board. If there are job opportunities you would like to advertise to ASFI’s network of sustainable finance, responsible investment and sustainability experts and practitioners, please complete this form.
Current job opportunities available: