Cameron Price, B. Forest Science 🌳’s Post

Let's talk about Australia's recent sustainability developments (ahead of this year's Australia - New Zealand Climate and Finance 2+2 Dialogue) 💰💚🔽 ▶ Yesterday, Australia's draft climate reporting bill had its first reading in the Senate. Its been moved straight to a second reading. Still on track for 1 January 2025 onwards, with ASRS due in December, & ASIC guidance in 2024/25. ▶ Last week, the Australian Government released its Sustainable Finance Roadmap, as part of its wider Sustainable Finance Strategy. The key reforms in the pipeline are: 1️⃣ climate-related financial disclosures (aligned with IFRS S1&S2) 2️⃣ the sustainable finance taxonomy (voluntary ASFI taxonomy in mid-2025, Govt to consider wider adoption) 3️⃣ transition planning (consultation later this year, best practice guidance in 2025) 4️⃣ sustainable investment product labels (expected 2026-7) 5️⃣ sovereign green bonds 6️⃣ data - CFR advice on options for addressing data challenges 7️⃣ APRA reviewing prudential guidance on climate change financial risks The Roadmap was greeted with support by Responsible Investment Association Australasia (RIAA), Financial Services Council, Investor Group on Climate Change (IGCC), the Transition Plan Taskforce (TPT) ▶ the Australian Sustainable Finance Institute's consultation on the Sustainable Finance Taxonomy is open until 30 June. The key first sectors are: ⚡ electricity generation & supply ⛏ minerals, mining and metals 🏗 construction and the built environment. There are many similarities with NZ's taxonomy proposals, but naturally different key sector focuses. The next ASFI consultation in Q4 will pick up mitigation criteria for transport, manufacturing/industry, and agriculture/land, as well as minimum social safeguards, and how users can show alignment to the taxonomy. ▶ Last month, RIAA launched its Sustainability Classification Initiative, a voluntary scheme to add "Responsible", "Sustainable", and "Sustainable Plus" classifications on to its certification regime. ▶ Matt Kean, a former NSW Treasurer and Minister for Energy and Environment, has been appointed the next Chair of Australia's Climate Change Authority. Greater collaboration and international alignment should set the stage for investment to flow to the transition. We just need to match funds with action. #sustainablefinance #climatechange #climateaction #esg #sustainability #climatereporting #sustainabilityreporting 📷 - Gratuitous Quokka - Mark Stoop / Unsplash

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

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

𝗦𝗲𝗽𝗹𝗮𝗮 𝗚𝗿𝗼𝘂𝗽 𝗢𝗽𝗶𝗻𝗶𝗼𝗻: 𝗖𝗮𝗽𝗶𝘁𝗮𝗹𝗶𝘇𝗶𝗻𝗴 𝗼𝗻 𝗖𝗹𝗮𝗿𝗶𝘁𝘆: 𝗧𝗵𝗲 𝗻𝗲𝘄 𝗖𝗮𝗻𝗮𝗱𝗶𝗮𝗻 𝗧𝗮𝘅𝗼𝗻𝗼𝗺𝘆 by Dr. Ammara Farooq Malik I #Toronto I #Opinion "With the race to zero now becoming more urgent than ever, the global fight for climate change is becoming a monster of a challenge. Amidst the urgency, developments towards creating new #taxonomies are a welcome step in the right direction. Attending the recent #UN #PRI In-Person side event titled “Capitalizing on Clarity: The Canadian Taxonomy in Action” in Toronto was a thought provoking experience. The event, co-hosted by the Institute for Sustainable Finance and the Canada Climate Law Initiative, provided a unique platform to discuss the transformative potential of Canada’s new sustainable finance taxonomy. The taxonomy is set to serve as a definitive guide for both “#green” and “#transition” investments, offering much-needed clarity for allocating climate capital, which investors have long demanded. 𝗔 𝗡𝗲𝘄 𝗘𝗿𝗮 𝗼𝗳 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 The introduction of a sustainable finance taxonomy in Canada marks a significant milestone in the country’s commitment to combating climate change and promoting sustainable development. This taxonomy provides a clear and consistent framework for identifying economic activities that are environmentally sustainable. It is an essential tool for investors, policymakers, and businesses aiming to support the transition to a low-carbon economy..." Read more in the link below: https://lnkd.in/dVg8BvKj

🚀 Exciting Update! The Australian Sustainable Finance Institute (ASFI) has just launched a public consultation for the Australian Sustainable Finance Taxonomy v0.1! 🌏   🔍 Key Highlights: • Sector Focus: The taxonomy's initial focus is on climate change mitigation for the electricity, mining, and construction sectors. • Objective: The taxonomy aims to streamline sustainable investments and align financial activities with Australia's environmental goals. • Inclusivity: The consultation encourages feedback from a broad range of stakeholders, including First Nations communities, to ensure diverse perspectives.   📅 Consultation Period: May 28, 2024 - June 30, 2024.   🌟 Why This Matters: This initiative marks a crucial step in embedding sustainable practices within the financial sector. It represents a collaborative effort to support Australia's transition to a net-zero, resource-efficient, and socially inclusive economy.   📚 About ASFI: ASFI is committed to realigning the financial system to support greater social, environmental, and economic outcomes. Their work involves driving cross-sector collaboration, enhancing financial inclusion, and promoting sustainable finance initiatives.   🔍 Implications for the Industry: • Systemic Change: Promotes collaboration between government, financial institutions, and civil society to embed sustainability into financial practices. • Leadership and Innovation: Encourages industry leaders to take active roles in driving sustainable finance. • Policy and Engagement: Facilitates ongoing dialogue with regulators to develop supportive policies for sustainable finance.   📝 How to Get Involved: • Visit the Consultation Page: https://lnkd.in/ekgui3Zy • To know more about Australian Taxonomy Project, visit  https://lnkd.in/gHrn2xQh • Submit Feedback: Engage in the feedback process to help shape the future of sustainable finance in Australia.   #SustainableFinance #ClimateAction #ASFI #PublicConsultation #ESG #RegTech

Earlier today, ASFI’s Nicole Yazbek-Martin joined Centre for Sustainable Finance: Toitū Tahua, NZ Minister for Climate Change Hon. Simon Watts, and other international experts for a webinar to discuss the advancement of a sustainable finance taxonomy for Aotearoa NZ. The webinar touched on implications for NZ financial market participants, opportunities for engagement and insights from abroad, including ASFI’s development of Australia’s own sustainable finance taxonomy. The Centre is partnering with Climate Bonds Initiative and the New Zealand Government to prepare independent non-binding advice to the Minister for Climate Change on the design of a taxonomy that is fit for purpose for Aotearoa New Zealand. ASFI congratulates the Centre on this welcome progress and looks forward to continuing to work together to ensure the development of a credible and internationally interoperable taxonomy here in Australia. Learn more about the development of a taxonomy for Aotearoa NZ at https://lnkd.in/gDBkKbSA Visit our website to learn about the development of an Australian sustainable finance taxonomy https://lnkd.in/gHrn2xQh #sustainablefinance #sustainablefinancetaxonomy Jo Kelly Matteo Bigoni Adam Coxhead Yuki Yasui

📢 SFDR categorisation system proposal has been published 💡 The EU Platform on Sustainable Finance has published a briefing note for the Commission outlining how a categorisation system for sustainable finance products could be set up and calibrated today. The Platform recommends categorising products with the following sustainability strategies: ☘️ Sustainable: EU #Taxonomy-aligned Investments or #Sustainable Investments with no significant harmful activities or assets based on a more concise definition consistent with the EU Taxonomy. ♻️ Transition: Investments or portfolios supporting the transition to net zero and a sustainable economy, avoiding carbon lock-ins, per the EU Commission's #TransitionFinance guidelines. ✅ #ESG collection: investments excluding significantly harmful investments / activities, investing in assets with better environmental and/or social criteria or applying various sustainability features. ❌ All other products should be identified as unclassified products The briefing note also includes some indicators that can be used to measure impact of the strategies. ❕ It will be interesting to follow the development of a real #sustainablefinance classification system as the current implementation of the #SFDR can cause more confusion for end-investors with no minimum requirements or clear definitions. Link to publication in comment. #ESGinvesting #Sustainablefinance #SFDR #MBSESG

🌍 Sustainable finance is at the heart of addressing global environmental challenges, but as this article shows, achieving alignment across regions remains a significant hurdle. While Canada is urged to hold its ground, the EU simplifies its approach, and the U.S. steps back, we see how vital consistent, strategic frameworks are for driving meaningful change. This complexity underlines the growing need for professionals to stay informed and equipped to navigate sustainability’s evolving landscape. A solid foundation in environmental management empowers individuals and organisations to make impactful decisions in line with global best practices. If you're looking to strengthen your skills or pivot your career toward sustainability, our IEMA Foundation Certificate in Environmental Management course is an excellent place to start. This comprehensive course offers insights into core principles, equipping you to tackle real-world environmental challenges with confidence. 📅 Next course starts: December 23rd, 2024 For more details or to book your spot: 📧 Contact us: [email protected] 📞 Schedule a call: calendly.com/jamie-643 📖 Book directly: www.actsustainably.com Read the article to gain valuable insights into the current state of sustainable finance: https://lnkd.in/dMw2hEwu #Sustainability #EnvironmentalManagement #SustainableFinance #IEMA #ProfessionalDevelopment #ActSustainably #ClimateAction #GreenEconomy

Australia releases a second consultation paper on its sustainable finance taxonomy. #SustainableFinance #Australia #ClimateFinance #ASFI #Sustainability #ResponsibleInvestment #EcoFinance

The rationale behind the recent moves in the UK's sustainability finance regulation landscape is worth a thorough analysis, and other jurisdictions should pay attention to it. Without the aim of being exhaustive, last October the government introduced a new Industrial Strategy with a view to drive long-term sustainable, inclusive and secure growth by focusing in removing barriers to investment in key sectors that need to transition the most, streamlining frameworks and disclosure requirements. In essence, prioritize and put in order what is needed to progress towards a growth-focused low-carbon economy. Amidst this work, the UK government launched a public consultation exploring whether a UK Green Taxonomy can be a useful tool in delivering a regulatory framework that supports sustainable growth, and enables the private sector to realise the opportunities of the transition. What is interesting is the fact that the UK Taxonomy development is not set in stone. Rather, the government wants to understand from stakeholders implementation lessons from other taxonomies, their barriers, gaps and uses cases. Therefore, in case of being developed it will overcome structural problems that taxonomies like the European one are facing, hindering the channeling of capital flows to sustaianle activities. This can be the case of DNSH & MSs assessment, too much complex as it stands today, or the GAR ratio that does not accurately portrait the banks' efforts in the transition. It should be a lesson for Europe: being the fastest does not equal to have a better framework. Make impact assessment, try to link regulatory efforts to other jurisdictions, understand what works and what does not, having in mind the impact for the real economy and its needs. #Taxonomy #ESG #Sustainability