Submission to the Inquiry into economic self-determination and opportunities for First Nations Australians

As an organisation committed to transforming Australia’s finance system into one that is sustainable, resilient, and inclusive, the Australian Sustainable Finance Institute (ASFI) recognises the critical importance of economic self-determination for First Nations Australians. Economic self-determination embodies the ability of First Nations peoples to freely pursue their economic, social, and cultural development, addressing historical and systemic barriers that have hindered their full participation in the nation's economic life. ASFI's vision is to foster a finance system that actively promotes the economic agency of First Nations communities, aligned with the broader goals outlined in our Sustainable Finance Roadmap and programmatic efforts.

By enhancing access to capital, financial services, and investment opportunities and by embedding Indigenous knowledge and values into financial practices, we support sustainable and resilient economies that respect and elevate First Nations perspectives on land, water, and resource management. This includes ensuring inclusive financial systems, investing in First Nations enterprises, promoting financial literacy, building strong partnerships, and integrating sustainable and ethical practices. By setting this vision, ASFI aims to shift the financial system to one that supports economic prosperity and promotes social equity and environmental sustainability, paving the way for a future where First Nations Australians have full economic participation and self-determination, contributing to a more just and resilient society.

In this submission, we focus on increasing First Nations equity and participation in the financial system and in Australia’s efforts to address the climate and nature crises. Our recommendations also incorporate principles that have broader application beyond these focus areas.