ASFI Welcomes ACCC Authorisation to Advance Sustainable Finance Collaboration
Media release: ASFI Welcomes ACCC Authorisation to Advance Sustainable Finance Collaboration
The Australian Sustainable Finance Institute (ASFI) welcomes the Australian Competition and Consumer Commission’s (ACCC) authorisation of aspects of its work, supporting collaborative action across the finance sector to unlock private capital for Australia’s climate transition and other critical sustainability and social objectives.
This authorisation enables ASFI to progress co-design of blended finance products, a key tool to mobilise private investment in areas where public benefit is high but commercial viability remains a challenge. It also facilitates tightly controlled information-sharing particularly in relation to prudential settings such as bank capital weightings, where collective insight can support more sustainable financial system outcomes.
ASFI CEO, Kristy Graham said:
“We welcome the ACCC’s authorisation which acknowledges the public value of ASFI’s role in convening financial sector stakeholders to support the flow of capital towards sustainable outcomes.
“We also recognise the importance of addressing any actual or perceived competition risks and will work closely with the ACCC to ensure conditions are met with integrity and transparency.
“This authorisation strengthens ASFI’s ability to facilitate and promote efficient, coordinated action between members and partners, particularly in blended finance. It accelerates progress towards our shared objective: a financial system that supports a sustainable, resilient and inclusive Australia.
“As the first authorisation for sustainability related collaborations since the issuance of the ACCC’s Sustainability Collaboration Guidelines, it is an important signal that the ACCC recognises the public benefit that comes from sustainability related collaborations, facilitated by organisations such as ASFI.”
Importantly, the ACCC’s authorisation applies to specific workstreams involving higher levels of coordination, while the remainder of ASFI’s work – including policy engagement, taxonomy development and implementation, and capability-building – continues to operate under existing competition law protocols widely used across industry organisations.
This decision sets a valuable precedent for other sustainability-related collaborations, as envisaged in the ACCC’s Sustainability Collaboration Guidelines released in December 2024.
ASFI looks forward to continuing its close engagement with the ACCC and other stakeholders to ensure responsible and impactful collaboration remains possible in areas of clear public benefit.
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