The Responsible Investment Association Australasia (RIAA), representing 75% of managed funds in Australia, has warmly welcomed the passing of the legislation to enact mandatory reporting on climate by Australian businesses. RIAA has long campaigned for a mandatory climate-related disclosure regime in Australia.
Clear and comparable disclosure of climate-related financial information will help investors identify and understand the large-scale financial risks from the impacts of climate change and transition to net zero emissions. It will also encourage action to mitigate these risks.
By incentivising high quality, useful and internationally aligned climate-related disclosures, this Act will help maintain Australia’s place in the global economy.
Estelle Parker, Co-CEO of RIAA highlighted the importance of this landmark development. “This is an exciting moment for Australian investors. In fact, it’s a gamechanger. Internationally, company sustainability reporting is developing rapidly. This sends a strong signal that Australia is one of a growing number of countries acknowledging the significance of accurate and useable sustainability information in markets through the climate transition. These mandatory climate disclosures will play a key part in supporting Australian markets in the transition. It is a once-in-a-generation shift,” she said.
Estelle further emphasised the need for quality information. “In this day and age, investors are crying out for high-quality, comprehensive and – importantly – comparable information about companies to make decisions about where to direct capital to align with both financial and sustainability objectives.”
RIAA also welcomed the much-awaited establishment of the Net-Zero Economic Authority, with the enabling legislation passing the Senate. The Authority will play a key role in facilitating investment in the economic transition.
While RIAA strongly supports the legislation, Estelle noted concerns on the inclusion of limited liability settings.
“While RIAA has made it clear that any kind of safeguard or temporary limited liability is not in any way necessary, it is pleasing nonetheless to see the legislation pass. Future generations will thank us for getting this right.”
RIAA calls on the government to ensure that the temporary limited liability settings do not extend beyond the stipulated timeframe.
For further information, please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718
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The Responsible Investment Association Australasia (RIAA), representing 75% of managed funds in Australia, has warmly welcomed the passing of the legislation to enact mandatory reporting on climate by Australian businesses. RIAA has long campaigned for a mandatory climate-related disclosure regime in Australia.
Clear and comparable disclosure of climate-related financial information will help investors identify and understand the large-scale financial risks from the impacts of climate change and transition to net zero emissions. It will also encourage action to mitigate these risks.
By incentivising high quality, useful and internationally aligned climate-related disclosures, this Act will help maintain Australia’s place in the global economy.
Estelle Parker, Co-CEO of RIAA highlighted the importance of this landmark development. “This is an exciting moment for Australian investors. In fact, it’s a gamechanger. Internationally, company sustainability reporting is developing rapidly. This sends a strong signal that Australia is one of a growing number of countries acknowledging the significance of accurate and useable sustainability information in markets through the climate transition. These mandatory climate disclosures will play a key part in supporting Australian markets in the transition. It is a once-in-a-generation shift,” she said.
Estelle further emphasised the need for quality information. “In this day and age, investors are crying out for high-quality, comprehensive and – importantly – comparable information about companies to make decisions about where to direct capital to align with both financial and sustainability objectives.”
RIAA also welcomed the much-awaited establishment of the Net-Zero Economic Authority, with the enabling legislation passing the Senate. The Authority will play a key role in facilitating investment in the economic transition.
While RIAA strongly supports the legislation, Estelle noted concerns on the inclusion of limited liability settings.
“While RIAA has made it clear that any kind of safeguard or temporary limited liability is not in any way necessary, it is pleasing nonetheless to see the legislation pass. Future generations will thank us for getting this right.”
RIAA calls on the government to ensure that the temporary limited liability settings do not extend beyond the stipulated timeframe.
For further information, please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718
