James Pearson

Climate change impacts + market expectations + legislation changes + decarb targets, create a compounding concoction that requires proactive decision making by organisations. Kristin Renoux Laura Robichaux Erin Connolly explore the value Beca is bringing to organisations in this thought piece. "Navigating the complexities of #climate-related #risk and uncertainty requires a robust and flexible approach. Without a clear process, organisations may struggle to determine which actions will be both effective and a wise long-term investment. A #DAPP approach, alongside scenario analysis, allows you to identify where similar actions will provide benefits to your organisation across a range of scenarios. These low-regret actions can be tested and refined to show meaningful action to reduce climate risks, including #transition and physical risks, or take advantage of opportunities."

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𝐓𝐡𝐞 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐑𝐨𝐚𝐝𝐦𝐚𝐩 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐫𝐞𝐥𝐞𝐚𝐬𝐞𝐝 𝐭𝐨𝐝𝐚𝐲. Key priorities include: -      implementing mandatory climate reporting, -      developing the Australian Sustainable Finance Taxonomy, -      supporting credible net zero transition plan, -      Addressing sustainability data challenges -      Reducing harms from greenwashing with enhanced supervision from ASIC   Also interesting to note: Australia issued its first green bond on 4 June 2024 ($7 billion bond line with maturity date in June 2034).   𝐇𝐚𝐯𝐞 𝐚 𝐥𝐨𝐨𝐤 𝐚𝐭 𝐭𝐡𝐞 𝐥𝐚𝐬𝐭 𝐩𝐚𝐠𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐑𝐨𝐚𝐝𝐦𝐚𝐩 𝐟𝐨𝐫 𝐚 𝐭𝐢𝐦𝐞𝐥𝐢𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐤𝐞𝐲 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬: https://lnkd.in/gb-ssJTD

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Are you a scope 3 emitter for companies required to report on their emissions? If you are, then you will need to put mechanisms in place to start recording your emissions profile. If you are unsure or need some help on just where to start, then feel free to reach out to Eden Future. Setting up a reporting framework internally may not be that difficult. For more context refer to the extracted quote from the article “The legislation also includes a phased-in approach for Scope 3 reporting, allowing companies an extra year from the beginning of their disclosure requirements to report on the quantity of their indirect value chain emissions, in addition to three years of protection from litigation concerning Scope 3 disclosures.”

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Here's an interesting read highlighting that (unexpectedly) 75% of businesses are prioritizing decarbonization direct actions over carbon offsetting to meet NZC targets. It would be intriguing to see how this study may impact SBTi's stance on carbon offsetting. https://lnkd.in/e9V_ssEz

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A good write up on the coming ASRS requirements. This is fast approaching and the time to prepare is now. #ASRS #sustainabilityreporting #climate

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What is Double materiality? The European Sustainability Reporting Standards (ESRS) came into force in 2024 under the Corporate Sustainability Reporting Directive (CSRD) and is considered the world’s most comprehensive and stringent non-financial reporting regime.  The ESRS apply a double materiality approach covering sustainability issues that would arise under both GRI and IFRS/ISSB reporting.  Double materiality is defined as “the union of impact materiality and financial materiality.” As such, it’s a principle that evaluates sustainability topics from two perspectives:  - Impact materiality (inside-out): How a company's actions impact the environment and society.  - Financial materiality (outside-in): How environmental and social issues affect the company's financial health. What does this mean for companies in New Zealand? How can we adopt these standards for meaningful reporting? Join Proxima Consulting and Calum Revfem on the 23rd of May for an insightful session on ESRS core components, global impact of these regulations and real-world implications for NZ-based organisations. Register here: https://lnkd.in/gM47_qtQ

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🏠📚 Emerging ESG Trends in Purpose Built Student Accommodation (PBSA) 🌱🔬 at BayNel have recently completed another ESG strategy for a PBSA provider, as the sector evolves and grows it is clear that ESG is becoming increasingly important for both customers (students) and the the businesses operating and investing in the sector. Some key trends include: 1️⃣ Energy Efficiency: Smart building tech and renewable energy sources are driving the push towards net-zero carbon operations. The focus on resilience of assets is key. 2️⃣ Student Wellbeing: Spaces designed for social interaction and enhanced mental health support are taking centre stage. 3️⃣ Sustainable Construction: Repurposing of existing buildings (i.e. offices), efficient materials and modular techniques are reducing environmental impact. 4️⃣ Digital Integration: Smart systems are optimizing energy use and enhancing community engagement. 5️⃣Circular Economy: Furniture recycling and waste reduction initiatives are gaining traction, especially with end of tenancy waste. 6️⃣ Community Engagement: Partnerships with local organisations to foster stronger community ties through the provision of spaces to community organisations and student volunteering programmes. 7️⃣ Transparency: Regular ESG reporting is becoming standard practice. Read our latest case study for more information- https://lnkd.in/eFcKui5s If you are in the PBSA sector and are looking for support on how your business can navigate the ESG agenda please get in touch. #PBSA #ESG #sustainability #studentaccommodation

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🌍 Sustainable Trade is Key for Resilience The 2024 Hinrich-IMD Sustainable Trade Index (STI) reveals that economies are increasingly focusing on resilience by balancing economic growth, societal well-being, and environmental stewardship. This year, New Zealand and the United Kingdom top the list, showcasing strong environmental and societal practices, while Australia made impressive strides across all pillars. 🔑 Key Insights: Economic Pillar: Countries with robust technological infrastructure and low trade barriers, like Hong Kong and Singapore, lead. Global trade growth is recovering but remains uneven, with Europe lagging. Societal Pillar: New Zealand excels in labor standards and educational attainment, while Canada leads in social mobility and healthcare coverage. Environmental Pillar: Top performers like New Zealand and the Philippines integrate sustainability in trade, reducing carbon emissions and prioritizing renewable energy. 📈 Rising Stars: Vietnam, Thailand, and Chile have shown significant improvement, proving that middle-ranking economies can make great strides by focusing on innovation and sustainability. #SustainableTrade #EconomicResilience #EnvironmentalLeadership #Innovation #WorkforceResilience #CircularEconomy

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The Australian Sustainable Finance Institute has released their public consultation paper on #taxonomy! The release of this paper is a significant step towards establishing a common language for #sustainablefinance in Australia. Taxonomy plays a crucial role in identifying and classifying #sustainable economic activities, helping investors make informed decisions and drive positive environmental and social outcomes. This public consultation paper aims to gather feedback from stakeholders and shape the development of a robust taxonomy framework. By providing clarity and consistency in defining what qualifies as sustainable, this taxonomy will guide investors, companies, and policymakers towards more sustainable practices. It will enable the identification of sustainable investments, aligning capital flows with #environmental and #social goals. I encourage all stakeholders to participate in the consultation process and contribute their insights and expertise. Together, we can shape a taxonomy framework that supports the transition to a more sustainable and resilient economy. #SustainableFinance #ASFI #Collaboration

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We’re thrilled to welcome Erin Littlewood to the IEMA - Integrating Environment, Business & Community team as Principal Consultant - Sustainability Lead! Erin brings a wealth of experience and passion for ESG, sustainability strategies, stakeholder engagement, and governance, enhancing our ability to support clients in achieving their sustainability goals. If you’re looking to strengthen your sustainability efforts, refresh your #ESG strategy, or prepare for mandatory reporting, Erin Littlewood and our team is here to help! Exciting times ahead for IEMA - Integrating Environment, Business & Community as we continue to integrate environment, business, and community. #ESG #Sustainability #Strategy #Governance #IEMA #NewBeginnings #PeopleAndPlanet #Sustainability #ESG #Governance #StakeholderEngagement #SustainabilityStrategy #MandatoryReporting #EnvironmentalManagement #IEMA #PeopleAndPlanet #SustainableFuture #Leadership #BusinessSustainability #ClimateAction

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Australia’s House of Representatives voted today to pass the Treasury Laws Amendment bill, introducing mandatory climate-related reporting requirements for large and medium sized companies, including disclosures on climate-related risks and opportunities, and on greenhouse gas emissions across the value chain, starting as soon as 2025 for the largest companies. climate-related reporting requirements broadly in line with the IFRS Foundation’s International Sustainability Standards Board (ISSB). Initial reporting requirements will begin in January 2025, Reporting requirements will apply to all public companies and large proprietary companies required to provide audited annual financial reports to the Australian Securities and Investments Commission (ASIC) that meet specific size thresholds, starting with  For companies with over 500 employees, revenues over $500 million or assets over $1 billion, as well as asset owners with more than $5 billion in assets.  For medium sized companies (250+ employees, $200 million+ revenue, $500 million assets), reporting requirements will begin in July 2026, and  For smaller companies (100+ employees, $50 million+ revenue, $25 million+ assets) will begin one year later. (Source ESG Reporting) #ESG #sustainability #ESGreporting #asic

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A major milestone for Australia's climate agenda! The Senate passed legislation to make climate reporting mandatory. The Australian Sustainability Reporting Standard (ASRS) closely aligns with the IFRS Foundation's ISSB standards and builds on the TCFD framework. This means that companies within determined thresholds will soon be required to disclose their climate governance practices, assess physical and transitional climate risks and opportunities—including financial impacts—and report on emissions. Initially, reporting will cover scopes 1 and 2, with scope 3 following in the second year. Companies will also need to inform their transition plans, climate targets, and the impact of climate change on their strategies and decision-making processes. The shift from qualitative to quantitative methods will be gradual, with assurance requirements becoming more stringent over time. This change is part of a global movement to recognise climate change as a material financial risk, creating standards to ensure accuracy, transparency, and comparability of reporting across borders🌍 One of my favourite aspects is how it reinforces the importance of climate science and scenario analysis in evaluating climate risks and opportunities, effectively bridging the gap between theory and practice for climate action! As we navigate these new requirements, it’s normal to feel a bit overwhelmed by the compliance demands. But please, let’s remember that this is not a compliance framework. The ultimate goal is to drive transformational change, fostering more resilient and innovative businesses! . . . . #Sustainability #ClimateReporting #ASRS #IFRS #TCFD #Innovation

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🌟 Excited to share the release of the Australian Carbon Industry Code of Conduct’s Annual Report 2023-2024! This year’s report highlights the Code’s growing role as a safeguard mechanism for consumer rights and its impact on transparency and integrity across the carbon market. #ACIcode #ConsumerProtection #ClimateAction #CarbonMarket #CodeOfConduct

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5 good recs and reminders below from emily porro at Ragan. “Focusing on personal benefits, technological innovation, local and community impacts, resilience and tangible results, businesses can connect with consumers more meaningfully by answering the question “why” in a way that is more closely to where they are. We just need to adjust to audiences who are increasingly looking for practical, actionable, measurable solutions to address their own challenges directly.” https://lnkd.in/e6JHquJb

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The Climate Change Authority has released its 2024 Sector Pathways Review, providing a comprehensive roadmap for Australia's transition to #netzero emissions by 2050! • The review examines six critical sectors: electricity and energy, #transport, industry and waste, agriculture and land, resources, and the #builtenvironment. • It emphasises the urgent need to deploy existing technologies like #solar and wind, rather than waiting for future breakthroughs. • The report identifies opportunities, barriers, and workforce considerations for each sector's #decarbonisation journey • #renewableenergy deployment is crucial, with delays potentially jeopardising #emissionsreduction goals • The review pours cold water on #nuclear energy's role in meeting 2050 targets due to long lead times and lack of experience This landmark report provides invaluable insights for policymakers, investors, and industry leaders. It's clear that Australia has the potential to prosper in a low-emissions future, leveraging its abundant renewable resources and skilled workforce. #climateaction #netzero2050 #sustainablefuture

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🚨 PACKAGING ALERT 📦 Do you work with packaging? As a product manager, packaging designer or producer, or even an an end user or recycler? Don’t miss this extremely important opportunity to have your say on new packaging regulations 🗣️ We absolutely need mandatory reform and a robust regulatory framework for extended producer responsibility to transform our outdated linear system. #packaging #packagingdesign #designoutwaste #packagingwaste #circulareconomy #circularpackaging

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Is your business ready for the new Australian Sustainability Reporting Standards? From January 2025, over 6,000 Aussie businesses will need to comply with mandatory climate-related disclosures. Even if you're not one of the 6,000, you’ll likely face data requests and impacts across the supply chain. We suggest getting familiar now so you can stay ahead of the curve. At SEAOAK Consulting, we’ve broken down what these changes mean and how you can prepare. 🔍 Read it here: https://lnkd.in/gJ5pD-ZB #climatedisclosures #agribusiness #emissions #reporting

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Australia Aligns Sustainability Standards with Global Expectations Responsible Investor is reporting Australia has made a pivotal decision to expand its sustainability standards beyond climate-only, aligning closely with the International Sustainability Standards Board’s (International Sustainability Standards Board (ISSB)) full disclosure standards, IFRS S1 and IFRS S2. This shift follows considerable feedback from the finance sector and global investors, highlighting the need for comprehensive sustainability reporting. Key Highlights: - Broader Alignment: The Australian Accounting Standards Board (AASB) plans to adopt ISSB standards on a voluntary basis, addressing both climate and general sustainability concerns. - Stakeholder Influence: Initial drafts were criticised for focusing solely on climate, prompting this significant policy reversal. - Regulatory and Investment Implications: Beginning January 2025, businesses will need to prepare for comprehensive sustainability disclosures, with mandatory assurance by the fourth year. Aligning with international standards will enhance transparency and appeal to global investors. Strategic Business Implications: - Compliance Preparation: Companies should develop internal systems to meet the new reporting standards by 2025. - Sustainability Practices Enhancement: Businesses need to broaden their focus to encompass various sustainability metrics beyond just climate. - Stakeholder Engagement: It's crucial to collaborate with industry peers and investors to align strategies and disclosures effectively. Risks and Opportunities: - Risks: Increased regulatory compliance costs and potential complexity in meeting expanded disclosure requirements. - Opportunities: Improved investor confidence and a competitive edge in sustainability leadership through alignment with global standards. Sustainable Development Goals (SDGs) Impact: - SDG 13 (Climate Action): Continued emphasis on climate-related disclosures. - SDG 12 (Responsible Consumption and Production): The broader sustainability reporting aligns with responsible resource use. This development underscores the evolving landscape of sustainability in business and highlights Australia's commitment to responsible corporate governance. Join the Conversation: What are your thoughts on these changes? How do you foresee these standards impacting your organization? Share your views in the comments. Ilona Millar Mardi McBrien Sue Lloyd Fiona Watson Karen McWilliams FCA Eelco van der Enden Peter Bakker Mary Stewart Read more: https://lnkd.in/gZR-eNs3

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ESG was the topic of choice at our recent Australian Water Association breakfast. If you're keen to continue the conversation and learning, UTAS have this free Masterclass - Accounting for sustainability #environment #social #governance #water

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