In late October, ASFI hosted its annual Member Delegation to Parliament House, bringing together senior representatives from Australia’s largest financial institutions alongside key parliamentarians and policymakers to advance the dialogue on mobilising capital for Australia’s climate goals.

Over two days, members discussed the role of finance in delivering an orderly, credible and inclusive transition, as well as hearing from government officials on emerging policy priorities across energy, industry and adaptation.

The delegation formed part of ASFI’s ongoing program to connect finance and policy at a systems level, fostering collaboration across government, regulators, and the finance sector to help align Australia’s private capital flows with long term sustainability goals.

With members spanning the banking, superannuation, insurance and investment sectors, the visit underscored the strength of a unified voice from finance on the importance of: policy alignment / certainty; long-term planning; and well-designed frameworks to unlock private capital at scale.

Assistant Treasurer introduces ASFI’s latest report

The member delegation began with the launch of a new report Unlocking Private Capital for the Transition: Market Insights from the practical application of the Australian Sustainable Finance Taxonomy.

Introduced by Assistant Treasurer Dr Daniel Mulino MP, and hosted under the auspices of the Parliamentary Friends of Clean Investment co-chaired by Senator David Pocock, the launch event was held at Parliament House with bipartisan attendance and support including Senator Andrew McLachlan CSC.

The event brought together parliamentarians, senior officials, and members of the finance and sustainability communities to mark the release of early insights from Australia’s Sustainable Finance Taxonomy pilot program, and highlight the practical steps needed to align capital with credible decarbonisation pathways.

In his remarks, Dr Mulino emphasised the importance of partnership between government and industry to build a financial system that supports the transition while maintaining Australia’s competitiveness. The presence of cross-bench representation reflected the growing recognition across the political spectrum that sustainable finance is central to economic opportunity and resilience.

“In order to progress action on climate change, it’s going to take the work of government and what we do as regulator and legislator, and the people and organisations in this room and what you do,” said Dr Daniel Mulino.

Mulino acknowledged "ASFI’s long-term role in playing a key partnership role in helping us to move forward on those fronts,” acknowledging that “the Taxonomy is going to provide great insights for us in moving forward on enabling capital flows in an area [that] is going to be a huge source of productivity and social gains over the coming decades."

The importance of bipartisan engagement on transition and adaptation

The following day, ASFI member representatives met with the Hon Josh Wilson MP, Assistant Minister for Climate and Energy and Minister for Emergency Services, and the Hon Dan Tehan MP, Shadow Minister for Energy and Emissions Reduction.

These discussions provided an opportunity for ASFI members to share market perspectives on the conditions required to mobilise private capital, from ensuring policy and regulatory certainty, to designing frameworks that enable investment in new technologies, infrastructure resilience, and adaptation.

Across conversations, participants discussed the shared challenge of financing the energy transition in a way that delivers for communities, industry and households. There was broad acknowledgement of the need for policies that create long-term certainty for investors, while ensuring affordability and competitiveness for Australians.

The delegation also explored the growing imperative to finance climate adaptation and resilience, with members outlining how expansion of the Australian Sustainable Finance Taxonomy to cover these areas would support investment in infrastructure and community preparedness.

The annual member delegation to Parliament House is an important element of ASFI’s mission to connect finance and policy in pursuit of a sustainable, resilient and inclusive economy.

Our growing role as a trusted, non-partisan convener — one that can bring the full breadth of Australia’s financial system into the national policy conversation in a coordinated and constructive way — was demonstrated throughout this visit.

By creating opportunities for open dialogue between members and policymakers, we are working hard to ensure that sustainable finance policies are both credible and practical.

That way, we can successfully enable capital to flow efficiently towards climate, nature and social outcomes that matter most for Australia’s future prosperity.

Looking ahead to 2026

The insights and relationships built through this year’s delegation will continue to inform ASFI’s work program under the Sustainable Finance Action Plan 2025–27, including expansion of the Australian Sustainable Finance Taxonomy, development of sustainable product labelling and disclosure frameworks, and initiatives to scale investment in adaptation and resilience.

The ASFI team would like to thank our members for their leadership and active participation in this year’s delegation, and look forward to continuing to work alongside government, regulators, and the broader financial system to build the conditions for sustainable, long-term investment in Australia’s transition.