Twenty-five senior sustainability leaders were appointed to the independent decision-making body for the taxonomy – the Taxonomy Technical Expert Group.

Taxonomy Technical Expert Group

With endorsement from the CWG, ASFI established a Technical Expert Group (TTEG) through an open expression of interest process. The TTEG comprised 25 experts in sustainable finance; whole-of-economy decarbonisation; climate and environmental science and policy; human rights; and Indigenous rights and perspectives.

The TTEG was co-chaired by Guy Debelle, former Deputy Governor of the Reserve Bank of Australia and former Chair of the Australian Council of Financial Regulators’ Climate Working Group, and Emma Herd, who has deep expertise in developing, implementing and assessing sustainable finance taxonomies, including leading the taxonomy technical team that worked with ASFI on the initial design considerations and transition methodology for an Australian taxonomy.

The TTEG provided strategic direction over, input into and endorsement of the Australian taxonomy. The TTEG collectively represented a mix of skills and experience that were critical to informing the taxonomy’s development.

The taxonomy advisory groups brought together key experts from across policy, academia, civil society and industry to contribute technical insights and advice.

Taxonomy Advisory Groups

Taxonomy advisory groups provided technical input into and advice on the work prepared by ASFI and its technical partners, led by the Climate Bonds Initiative, before it was presented to the TTEG for consideration and endorsement.

The taxonomy advisory groups helped shape:

1. The technical screening criteria for climate change mitigation across the six economic sectors prioritised for development;

2. Do No Significant Harm criteria; and

3. Minimum Social Safeguards.

The taxonomy advisory groups were constituted by ASFI through an expression of interest process. They did not have decision-making powers over the taxonomy’s development, but were positioned to contribute expertise and valuable input at critical stages of the taxonomy’s development.

ASFI engaged with key stakeholder groups over the course of the Australian taxonomy’s development in a targeted manner, consistent with the key principles for engagement and the Australian taxonomy’s design principles of usability, interoperability, credibility and prioritisation for impact.

Other stakeholder engagement

ASFI engaged with relevant stakeholder groups over the course of the Australian taxonomy’s development, consistent with the key principles for engagement.

The purpose of engaging with stakeholders on the Australian taxonomy’s design and development was to: 

• seek diverse and informed input, including technical input, to optimise taxonomy outputs;  

• ensure stakeholders affected by the taxonomy are properly consulted and given the opportunity to provide input on matters of relevance to them; and  

• socialise the taxonomy with a diversity of stakeholder groups and foster understanding and alignment in relation to its use and objectives. 

As part of this engagement, ASFI conducted two rounds of public consultation. More information on public consultation can be accessed here.

The full stakeholder engagement strategy for the Australian taxonomy’s development can be accessed here.