The Australian Sustainable Finance Institute undertook industry-led taxonomy scoping work from early 2022 until June 2023, working in close collaboration with government and regulators.
This work focused on identifying key framework design elements for an Australian sustainable finance taxonomy.
Research and Scoping
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ASFI Taxonomy Scoping Project
Following its establishment in 2021, ASFI identified the development of an Australian sustainable finance taxonomy as an immediate, strategic priority for Australia.
Between June 2022 and July 2023, ASFI undertook a taxonomy scoping project. The scoping project was industry funded and led, with engagement from government and regulators. This phase of work focused on the key framework design elements for an Australian sustainable finance taxonomy. Deliverables included:
A scoping paper of international taxonomies, released in October 2022, which analysed Australia’s economic and environmental context, key international taxonomies, and implications for taxonomy development in Australia.
A recommendations paper on the key design elements for an Australian taxonomy finalised in March 2023.
Analysis and case studies to inform the methodology for integrating transition activities in an Australian taxonomy, published in July 2023.
ASFI worked with a Technical Advisory Group (TAG) and broader stakeholders to inform the taxonomy scoping project deliverables. The TAG comprised 56 members and observers from across the finance sector, including from banking, consulting, superannuation, asset management, private equity, ESG market specialists, academics, and international taxonomy experts, as well as key financial industry peaks and Australian governments and regulators.
Additionally, ASFI collaborated with jurisdictions across the region and in Europe and North America and engaged in ongoing conversations with them to share information, approaches and lessons learned.
Resources
The outputs of the taxonomy scoping project were an analysis of international taxonomies and considerations for Australia; an Australian sustainable finance taxonomy framing paper; and a research paper on a taxonomy transition methodology.
Scoping Project International Taxonomy Engagement
As part of ASFI’s taxonomy scoping project, we hosted a series of webinars showcasing international developments in sustainable finance taxonomies and provided an opportunity to share expertise and experiences.
You can find our taxonomy webinars here.
Project proudly sponsored by our generous funders
