Policy & Regulation

The Responsible Investment Association Australasia (RIAA) strongly welcomes the Treasurer’s Sustainable Finance Strategy as a pivotal milestone, highlighting the significant role of investment labels in the responsible investment industry. The Strategy, with one of its priorities on developing a labelling system for investment products marketed as sustainable, marks a crucial step towards aligning the finance sector with Australia’s net-zero transition. The Treasurer’s consultation paper sets the stage for a remarkable transformation in Australia’s financial landscape by introducing a labelling system for investment products marketed as sustainable. RIAA underscores the critical impact of this development on the responsible investment sector, which has been a priority outlined in the Strategy. Simon O’Connor, CEO at RIAA, acknowledged the Sustainable Finance Agenda as a significant stride towards international alignment but stresses the urgency of Australia’s actions. “The government knows it has a rare opportunity to rapidly change the landscape of investment and finance through this Strategy. But let’s not kid ourselves, whilst we’re not starting from scratch, we are late to this important policy discussion and so must move fast and leverage existing industry efforts to play catch up,” said Simon.

We are in the midst of significant change in the way finance operates in Australia and with the Treasurer set to shortly release a draft Sustainable Finance Strategy, this change is about to accelerate further.

Exposure draft from the Australian Treasury to legislate the objective of superannuation ‘to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way'.

RIAA and a coalition that represents the voice of 15 peak professional, industry and investor bodies co-signed a submission to the International Sustainability Standards Board (ISSB) request for information consultation on agenda priorities September 2023.

International Sustainability Standards Board (ISSB) Request of Information Consultation on Agenda Priorities to shape the next two-year work plan of the ISSB.

On the eve of Australia’s biggest responsible investment conference, the Responsible Investment Association Australasia (RIAA) applauds the Government’s budget commitments to a sustainable finance agenda which will include: – funding the development of a sustainable finance taxonomy, – establishing an Australian Government green bond program, and – supporting ASIC’s work to address greenwashing. RIAA also welcomes the Government’s commitment to: – funding for social impact investment, including a $100 million Outcomes Fund, – funding to support a Nature Positive Plan, – establishing an Anti-Slavery Commissioner to help fight modern slavery in Australia and abroad, – a raft of other measures that will unlock opportunities for investors to contribute to national decarbonisation efforts. On the eve of Australia’s biggest responsible investment conference, the Responsible Investment Association Australasia (RIAA) applauds the Government’s budget commitments to a sustainable finance agenda which will include: – funding the development of a sustainable finance taxonomy, – establishing an Australian Government green bond program, and – supporting ASIC’s work to address greenwashing. RIAA also welcomes the Government’s commitment to: – funding for social impact investment, including a $100 million Outcomes Fund, – funding to support a Nature Positive Plan, – establishing an Anti-Slavery Commissioner to help fight modern slavery in Australia and abroad, – a raft of other measures that will unlock opportunities for investors to contribute to national decarbonisation efforts. RIAA’s Responsible Investment Australia 2023 conference on 10 & 11 May will dive deep into many of these major announcements.

Exposure Draft Regulations from the Australian Treasury on proposed changes to the Your Future Your Super (YFYS) performance test.

Super funds with a responsible, ethical or sustainable focus will soon be subjected to the same performance test as their ‘default’ MySuper peers, as the Government confirms the extension of these superannuation performance test rules.

Leading Australian financial institutions and finance industry peak bodies have made a joint statement on the Australian Government’s proposed Safeguard Mechanism reforms. As well as finance industry peak bodies ACSI, ASFI, IGCC and RIAA, the joint statement has been signed directly by institutional investors including Aware, Cbus, HESTA, First Sentier, IFM, Metrics, and Ethical Partners. These organisations represent more than 500 investors, banks, insurance firms and financial service providers who collectively hold over USD$29 trillion assets under management. The statement welcomes the Government’s proposal to reform the Safeguard Mechanism, while noting that the emissions reductions required under the Safeguard Mechanism are not yet aligned with the reductions needed to limit global warming to 1.5°. Leading Australian financial institutions and finance industry peak bodies have made a joint statement on the Australian Government’s proposed Safeguard Mechanism reforms. As well as finance industry peak bodies ACSI, ASFI, IGCC and RIAA, the joint statement has been signed directly by institutional investors including Aware, Cbus, HESTA, First Sentier, IFM, Metrics, and Ethical Partners. These organisations represent more than 500 investors, banks, insurance firms and financial service providers who collectively hold over USD$29 trillion assets under management. The statement welcomes the Government’s proposal to reform the Safeguard Mechanism, while noting that the emissions reductions required under the Safeguard Mechanism are not yet aligned with the reductions needed to limit global warming to 1.5°. Therefore, the Safeguard Mechanism should be a floor, not a ceiling, to facilities’ decarbonisation activities.