Supporting First Nations economic self-determination through financial systems change
ASFI is focused on elevating First Nations knowledge, voices and experience into all areas of work to ensure these perspectives shape the development of sustainable finance.
As well as integrating First Nations rights and heritage into key pieces of Australia’s Sustainable Finance architecture, such as the taxonomy, in partnership with First Nations organisations and advisors, we have investigated how the sustainable finance architecture could be further developed to support First Nations rights and economic self-determination. Our work on First Nations disclosures (2024-2025) explores this is more detail.
Elevating First Nations People, Perspectives and Outcomes
The finance sector must play an influential role in supporting First Nations self-determination.
To support our ambition and intent on First Nations and Finance, ASFI has benefited from strong First Nations expertise and leadership on our Board, in the ASFI team and in our First Nations Reference Group which operated from 2023 - 2026.
The First Nations Reference Group provided guidance and advice on ASFI’s work programs, bringing perspectives from their organisations, communities and lived experience. It provided a forum to bring First Nations people and organisations together with ASFI members to learn from each other and for ASFI members to increase their cultural capability and understanding, taking this back to their own organisations strategies and approaches to sustainable finance.
We very much value the lived experience, subject matter expertise, community and industry connections members of ASFI’s First Nations Reference group provided during this time.
First Nations Reference Group
ASFI has established a First Nations Reference Group to guide our efforts for the focus areas mentioned above and across our work programs.
Allen Roberts (Westpac)
Alexander Burns (ANZ)
Brendan Moore (Noongar Boodja Trust)
Caleb Adams (E&P)
Charis Martin-Ross (HSBC)
Darren Hammond (IAG)
Dylan Booth (Supply Nation)
Jess Rowe and Nayanisha Samarakoon (RIAA)
Michael Ingrey (Coastal Sydney Illawarra Traditional Owners Aboriginal Corporation)
Mitchell Heritage (CBA)
Rekeesha Fry (FNPI)
Sarah Parriman (KLC)
Tyson McEwan (Herbert Smith Freehills Kramer)
Will Leak (Mercer)
Yolande Pepperall (Clean Energy Finance Corporation)
We value the lived experience, subject matter expertise, community and industry connections our members bring to the table.
Insights
Research & Resources
ASFI supports the Uluru Statement from the Heart
ASFI supports the Uluru Statement from the Heart and the establishment of an Indigenous Voice to Parliament as the first step of its implementation. ASFI has been established to realign Australia’s financial system so that it supports a more sustainable, resilient and inclusive Australia.
Recognition of the First Nations people of Australia, and support for better outcomes for First Nations Peoples is an important foundation to achieving that mission.
The Australian Sustainable Finance Roadmap has a strong focus on self-determination, and the right of Free Prior Informed Consent (FPIC) for First Nations Peoples in Australia. This provides the basis for our support. ASFI’s work to elevate First Nations Peoples perspectives and outcomes into all our work on sustainable finance over the last 2 years is a demonstration of our ongoing commitment to self-determination and FPIC as an organisation.
We will continue to work with partners, particularly First Nations organisations and people, to support self-determination, FPIC and reconciliation in Australia, including through the development and implementation of our Reconciliation Action Plan and our First Nations work program.
Work Programs
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Public Policy
ASFI is actively engaging with the Australian Government on a range of policy areas to support the flow of finance and investment for climate, nature, and social outcomes in Australia.
Leveraging our deep public sector expertise and strong government relationships, ASFI drives and supports policy reform for better climate and sustainability outcomes.
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Sustainability Standards and Practice
ASFI’s standards and practice work predominantly supports Australian financial institutions to pilot the Australian Sustainable Finance Taxonomy in practice.
ASFI works in partnership with the Australian Government and members to inform future guidance and uses, and on the international harmonisation of taxonomies.
ASFI is actively promoting Australia's approach to green and transition finance through a range of bilateral and multilateral fora, and as technical and private sector partner to the Australian Government.
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Blended Finance
Blended finance, where public investment helps de-risk projects and crowd in private investment, is a key tool for decarbonisation and climate resilience. Effective blended finance structures to accelerate the flow of capital into projects and organisations that deliver sustainable outcomes.
This work program is being undertaken in partnership with Government, in particular the Department of Foreign Affairs and Trade (DFAT), and the ACCC has granted ASFI formal authorisation to work with institutions and governments on co-designing new blended finance structures.
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Leadership and Capability
ASFI is committed to embedding sustainability into leadership and practice across the financial services landscape, and is actively working to unlock financial institution skills, leadership, and ambition on sustainable finance.
Leadership is critical to sharpening organisational focus on sustainability, driving internal buy-in and culture, and facilitating action across the real economy. ASFI works in partnership with the Australian Government, members and others to deliver targeted courses, mentor programs, working groups, member delegations and a Capability Framework.
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First Nations and Finance
ASFI is positioned to act as a partner to First Nations-led businesses, Peaks, projects, Nations and communities, as lasting impact depends on First Nations leadership being centred and supported, not substituted.
This approach embeds First Nations rights in financial decision-making; increases access to finance and support for First Nations communities and businesses; elevates First Nations perspectives and priorities across Australia’s financial system; and ensures more First Nations peoples in Australia benefit from economic self-determination.
