Sophie Webb

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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The Australian Sustainability Reporting Standard passed the Senate and will come in as of 1 January 2025. So What? Big Australian organisations will be required to make detailed disclosures about their climate-related risks (and opportunities). This includes greenhouse gas emissions, climate-related transition plans and corresponding reduction targets. Each year going forward the revenue/asset threshold for reporting will drop until all ABN's in the economy are reporting like this. Although this may take years. The things that are reported on the company Directors will be liable for... this moves climate from the marketing department to the risk department, which is far closer to the CFO's desk. The things that are reported on will grow over time. I think it will be the whole SDG/ESG side of things that get reported in the end. This is internalising the cost of climate and environment... who is ready for Climate and Sustainability Reporting to be on the level of Financial Reporting? Regen Farmers Mutual is helping our members get ready. #sustainabilityreporting #scope3 #emissions

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This is indeed BIG news. I’d guessed it was going to be delayed but what a pleasant surprise!!! We are now 100 days away from mandatory scope 1,2 and 3 emissions. The ripple effect means that any company upstream or downstream of a Group 1 company will be impacted. Climatezero have an awesome platform for helping you organise your reporting. Get in touch directly or if you’re a food business looking to navigate Sustainability Reporting please DM me to explore how we at Climateers can assist.

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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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Australia’s mandatory climate-related financial disclosures, effective from January 1, 2025, require entities to conduct climate scenario analyses as part of their reporting obligations. Specifically, Section 296D(2B) of the Corporations Act mandates that scenario analysis be carried out using at least two scenarios: 1. A scenario where the increase in global average temperature is maintained below 1.5°C above pre-industrial levels. 2. A scenario where the increase in global average temperature well exceeds 2°C above pre-industrial levels. Integrating these climate scenarios into mine closure planning is not merely a compliance exercise but a strategic approach to engineering design. By evaluating potential future climate conditions, we can develop closure plans that ensure long-term stability. Integrating climate scenarios into mine closure planning is not explicitly mandated by Australian guidelines. However, leading practices and industry standards emphasise the importance of considering climate change impacts to ensure sustainable and resilient mine closures. ✅The Department of Industry, Science and Resources’ “Mine Closure” handbook highlights approaches to prevent or minimize adverse long-term environmental impacts, implicitly encouraging the consideration of climate factors. https://lnkd.in/gVs75GDA ✅Additionally, the International Council on Mining and Metals (ICMM) recommends incorporating climate change considerations into mine closure planning to address potential risks and ensure long-term stability. https://lnkd.in/gVxJ9H_9 #Sustainability #MineClosure #ClimateReporting #EngineeringDesign #ClimateChange

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Erasure and blindspots in stereo what do you get when the financial materiality folks combine effort with the monetization of Nature crowd. Even mainstream finance and economics are doing better than these “sustainability” coalitions with a number of critiques of neoliberal economics and books on inequality doing the rounds. There is no philosophy of change or paradigm shift in this work. It is not even sustainability light - any remaining pretence is now gone. Global North Dominance Watch Make Justice Normal Green Economy Coalition Post Growth Institute

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Australian Sustainable Finance Institute released the first draft of its technical screening criteria for a national sustainable finance taxonomy today. The draft covers three sectors - energy, built environment and mining, metals and minerals. At first glance, it is most welcome that the taxonomy takes a stance on: - CCS: "electricity generation via abated fossil fuels is currently out of scope as an activity in the transition methodology due to the low technological readiness level of carbon capture and storage."   - Nuclear energy: "Given the legal context, there is no case to include nuclear power generation in the taxonomy at this point in time." - Gas firming: "gas firming is not [currently] in scope at an activity level" I'll be engaging with the market in coming weeks to identify and collate stakeholder feedback regarding the credibility and usability of this taxonomy. If you would like to share your thoughts/concerns and learn from what others are saying, please drop me a DM. This public consultation process will run until 9:00pm Sunday 30 June 2024 (AEST). https://lnkd.in/gtewdX8V Investor Group on Climate Change (IGCC) Responsible Investment Association Australasia (RIAA) Australian Council of Superannuation Investors

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Will New Zealand set national targets for material use to achieve our climate targets? Measuring- +Non- renewable v renewable inputs +Recycled content, systems and processes to drive equal and higher value creation than original input use + Reuse amd resale Reducing waste and improving the productivity of the resources we already have in the economy.

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Empowering Green Future: Defining Sustainable Finance for a Resilient Economy High-Level Summary of this report: The Australian Sustainable Finance Taxonomy aims to guide the allocation of capital towards activities that support sustainability and climate goals. Developed by the Australian Sustainable Finance Institute (ASFI) in collaboration with the government and various stakeholders, this framework classifies economic activities contributing to #environmental objectives, including climate change mitigation, biodiversity, and pollution control. The first consultation focuses on draft criteria for electricity generation, mining, and construction. Feedback from this consultation will refine the #taxonomy to ensure it is credible, usable, and impactful, aligning with Australia's net-zero ambitions. The Australian Sustainable Finance Taxonomy faces critical challenges, including ensuring scientific credibility and usability, engaging diverse stakeholders, and avoiding #greenwashing. Establishing robust criteria for various sectors, integrating the taxonomy into regulatory frameworks, and managing data quality are complex tasks. Additionally, balancing long-term sustainability goals with short-term economic realities and maintaining global comparability while reflecting Australia's unique context are significant hurdles. Addressing these #challenges is crucial for the taxonomy to effectively guide capital towards sustainable and resilient economic activities. Alfredo Muñoz García Joaquim Matinero Tor José Luis Casal Tomás Pereda Riaza Javier Molina Jordà Kumiko Nagashima Francisca Alcaide Soler Nathalie Struck

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We recently published the latest edition of Sustainability Insights – a joint effort between BWD Strategic and Gilbert + Tobin. This issue tackles some of the most pressing challenges and opportunities in sustainability today.    Inside, you’ll find: • Mandatory reporting: Big changes in Australia’s climate-related disclosures and advice on how to get ahead of the curve. • Nature-positive change: Why #nature and #biodiversity are central to resilience, and how TNFD and ISSB standards will shape the future. • Sustainable finance: Australia’s green bonds program is gaining global attention. Find out why it matters for investors and businesses. • Human rights: With the prospect of a federal Human Rights Act, we dive into the potential legal and reputational risks. • AI and the future of work: What could #AI mean for the sustainability profession? • And much more on double materiality, First Nations engagement, and gender perspectives in sustainability. Download a copy and join our mailing list for future editions here: https://lnkd.in/gWBP3jpg #SustainabilityInsights #MandatoryReporting

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Now the mandatory climate reporting bill has been passed by the Senate, what will mandatory climate reporting mean for companies with explicit emissions targets in Australia?    We unpack Air New Zealand's recent decision to walk back on an ambitious explicit emissions target and the critical roles of regulators and businesses in ensuring reporting leads to the desired improvements for the planet.     Read our analysis: https://lnkd.in/g38yK5Zc

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The XRB has now issued the Consultation Document and Exposure draft on proposed 2024 amendments to Climate and Assurance Standards. In relation to NZ CS 2 (adoption provisions) the Consultation Document proposes "the extension by one accounting period: • Adoption Provision 4: Scope 3 GHG emissions, along with related extensions to: o Adoption Provision 5: Comparative information for scope 3 GHG emissions o Adoption Provision 7: Analysis of trends, insofar as it relates to the analysis of scope 3 GHG emissions trends • Adoption Provision 2: Anticipated financial impacts • Adoption Provision 3: Transition planning." There is also a proposal to "establish a new adoption provision (Adoption Provision 8) for the assurance of scope 3 GHG emissions disclosures for accounting periods ending before 31 December 2025" This relief may be welcomed by some, given cost and data pressures, as it means they will not be required to disclose and be answerable to the regulator on these aspects. However, irrespective of these proposed extensions, for certain CREs, climate change will present material risks and opportunities. As such, rapidly building capability and generating information related to these disclosure points—such as data on the financial impacts of these risks and opportunities—sooner rather than will be seen as valuable to support informed decision-making. A link is provided below for those who wish to provide comment to the XRB - noting that Consultation closes 30 October 2024. https://lnkd.in/g4wr9A63 Mark Baker-Jones Te Whakahaere Āhuarangi Ltd

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How do you handle emissions data if your business operates in Australia & overseas? 👀 This is one of the trickiest parts of sustainability reporting for many Australian companies for two main reasons: ❌ Many companies have had to manually separate or combine data from different countries – and manual handling often leads to data errors. ❌ Carbon accounting platforms aren’t all the same. So even companies using a carbon accounting tool to measure emissions might not be able to separate/combine data from different countries, or might find their measurements and emission factors don’t actually meet international reporting standards. ✅ That’s why we made this a priority at Climate Zero. 🙂 With our platform, you get everything that makes emissions measurement easier and consistently accurate for sustainability reporting in Australia and internationally including global emission factors. This work is based on our experience helping AU based companies measure and reduce emissions for 15+ years including companies like SG Fleet AU and Autorola Group. To find out, take a look at one of our recent case studies: https://lnkd.in/gwnKbQ79 And if you’d like to take a look around Climate Zero, please reach out to our team Pete Brownstein, KB (Katherine) Buzza, Jess Symes or Tai Lennon #Sustainability #FleetManagement #CarbonEmissions #ClimateZero #DataManagement #NetZero

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https://lnkd.in/gQzexVeV PLAN FOR 2025: Hear key Regulators, leading environmental lawyers and experts present the CHANGES EXPECTED IN 2025 on key environmental, climate change, carbon management/emissions reduction and energy laws, requirements and new developments to assist you and your organisation to remain compliant. Program and Register - https://lnkd.in/gQzexVeV Australian Environment Business Network (AEBN) www.aebn.com.au #ESG #NetZero #climateaction #epa #environment #emissions #emissionsreduction #climatechange #carbon #carbonmanagement #ghg #greenhousegas #mitigation #environmental #environmentalmanagement #practitioners #energy #renewable #renewableenergy #renewables

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Are you ready for Australia's imminent mandatory climate-related disclosures, the Australian Sustainability Reporting Standards (#ASRS)? The Investor Group on Climate Change (IGCC) stated today that "to maintain Australia’s place in the global economy ... it’s essential there is a climate reporting framework that incentivises high quality, useful and internationally aligned climate-related disclosures." They emphasised that this presents "a once-in-a-generation change to corporate reporting, which will require significant investment and upskilling across the Australian market". Do you need more information and upskilling? Do you know if your business is ready to start disclosing climate-related information? You can now find out how prepared your business is for Australia's mandatory climate disclosures, with Socialsuite's ASRS Readiness Assessment. Join Ilona Marchetta and me in Socialsuite's virtual launch of the ASRS Readiness Assessment this Wednesday 24 April, 1pm AEST. We will provide an overview of the ASRS, take you through the key components of the ASRS Readiness Assessment, and of course give you access so you can get started immediately! Register here: https://lnkd.in/gDBhz-wE #climate #TCFD #ISSB #reporting ESG Today FS Sustainability Australian Accounting Standards Board ESG News ESG Investor GreenBiz Group

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