The Responsible Investment Association Australasia (RIAA) welcomes the launch of the first consultation on Australia’s sustainable finance taxonomy. The consultation is seeking feedback on:
- the draft headline ambitions for the Australian taxonomy’s environmental objectives; and
- the proposed activities and draft substantive climate change mitigation criteria for the first three sectors to be developed under the taxonomy:
- Electricity generation and storage.
- Minerals, mining and metals.
- The built environment.
The process is being overseen by the Australian Sustainable Finance Institute (ASFI). Submissions are due by Sunday 30 June.
RIAA Co-CEO Estelle Parker called on interested parties to make a submission and reflected on this milestone in Australia’s sustainable finance policy. “The industry has been working towards this for years, and a lot of work has gone into this draft. RIAA’s CEO co-chaired the Australian Sustainable Finance Roadmap, of which the taxonomy was a key recommendation,” said Estelle. “RIAA is proud to have established ASFI in 2021, which has brought together many great minds of sustainable finance to drive development of the taxonomy.”
RIAA's Head of Policy & Advocacy Nayanisha Samarakoon added that this model of collaboration between industry and government will continue to be necessary. “The sustainable finance industry, which understands the practical challenges, can collaborate effectively with policymakers who are working on the monumental task of transitioning Australia's high-emitting economy to net-zero. By leveraging existing industry initiatives and working together, we can not only develop frameworks and solutions for transition which are foster early dialogue but also unlock significant cost savings for the public sector, allowing resources to be directed towards other crucial areas.
Estelle reiterated that Australia has potential to be a global leader, particularly in the critical area of minerals, mining and metals, for which there is yet to be a sector-specific taxonomy. “A fit-for-purpose, internationally aligned taxonomy will be a game-changer. It will empower the financial services sector to become a powerful engine for a resilient and sustainable economic future.”
RIAA will be holding a member event on 6 June to delve deeper into the taxonomy and explore how RIAA members can contribute most effectively.
For further information, please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718
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The Responsible Investment Association Australasia (RIAA) welcomes the launch of the first consultation on Australia’s sustainable finance taxonomy. The consultation is seeking feedback on:
- the draft headline ambitions for the Australian taxonomy’s environmental objectives; and
- the proposed activities and draft substantive climate change mitigation criteria for the first three sectors to be developed under the taxonomy:
- Electricity generation and storage.
- Minerals, mining and metals.
- The built environment.
The process is being overseen by the Australian Sustainable Finance Institute (ASFI). Submissions are due by Sunday 30 June.
RIAA Co-CEO Estelle Parker called on interested parties to make a submission and reflected on this milestone in Australia’s sustainable finance policy. “The industry has been working towards this for years, and a lot of work has gone into this draft. RIAA’s CEO co-chaired the Australian Sustainable Finance Roadmap, of which the taxonomy was a key recommendation,” said Estelle. “RIAA is proud to have established ASFI in 2021, which has brought together many great minds of sustainable finance to drive development of the taxonomy.”
RIAA's Head of Policy & Advocacy Nayanisha Samarakoon added that this model of collaboration between industry and government will continue to be necessary. “The sustainable finance industry, which understands the practical challenges, can collaborate effectively with policymakers who are working on the monumental task of transitioning Australia's high-emitting economy to net-zero. By leveraging existing industry initiatives and working together, we can not only develop frameworks and solutions for transition which are foster early dialogue but also unlock significant cost savings for the public sector, allowing resources to be directed towards other crucial areas.
Estelle reiterated that Australia has potential to be a global leader, particularly in the critical area of minerals, mining and metals, for which there is yet to be a sector-specific taxonomy. “A fit-for-purpose, internationally aligned taxonomy will be a game-changer. It will empower the financial services sector to become a powerful engine for a resilient and sustainable economic future.”
RIAA will be holding a member event on 6 June to delve deeper into the taxonomy and explore how RIAA members can contribute most effectively.
For further information, please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718
