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,
- 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 CEO Simon O’Connor says ‘RIAA welcomes a federal budget that has made positive first steps in supporting a comprehensive approach to sustainable finance. From social impact investment to the critical frameworks that will underpin a shift of capital to support the low-carbon transition via a taxonomy, these steps mark important progress that recognises the role of finance in supporting a sustainable Australia.
‘Australia has been at great risk of falling behind the race for capital as the world transitions to a lowcarbon future. These commitments show we are back on the right track as a nation, building a comprehensive strategy that will ensure private finance aligns with public sector commitments to support this huge industrial transformation required over coming decades.
‘We applaud the Government’s commitment to a Nature Positive Plan. Investors are increasingly focused on nature risk, and are starting to factor environmental considerations into investment decisionmaking. The Government’s commitment to providing accessible environmental information should help reporting against the Taskforce on Nature-related Financial Disclosures (TNFD) framework, which will be key to delivering on the Government’s Nature Positive Plan. Going forward, strong environmental laws will be essential to protecting Australia’s incredible biodiversity and providing investors with certainty.
‘Funding for impact investment will lay the important initial foundations for supporting entrenched disadvantage in the community, allowing finance to play a role in delivering on the big social challenges of our time. It marks the first steps in responding to the former government’s social impact investment taskforce.’
RIAA’s Responsible Investment Australia 2023 conference on 10 & 11 May will dive deep into many of these major announcements. Conference session details are included below for media attending the conference. For more information about the RI Australia 2023 conference or our comments below, or to gain media access to the conference (in-person or virtual), please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718.
$14.2 million over four years for a comprehensive sustainable finance agenda, including a sustainable finance taxonomy (Budget Paper 2, page 209)
RI Australia 2023 – What will Australia’s sustainable finance taxonomy look like? (panel)
Hear from the experts at the centre of the emerging Australian taxonomy, including APRA Executive Director Dr Sean Carmody and Australian Sustainable Finance Institute CEO Kristy Graham, who is partnering with the Government to establish the taxonomy.
Thursday 11 May, 11.55am, Plenary
RI Australia 2023 – Keynote address:
ASIC Deputy Chair Karen Chester – Greenwashing in Australia: A view from the regulator ASIC Deputy Chair Karen Chester will deliver a keynote on the regulator’s plans, followed by a fireside chat with RIAA CEO Simon O’Connor.
Wednesday 10 May, 1.35pm, Plenary
RI Australia 2023 – What’s on the label? Industry and regulator efforts to combat greenwashing (panel)
Industry experts will unpack the regulatory mood in Australia and overseas, and initiatives to standardise and clarify what sits under financial product ‘green’ claims. Thursday 11 May, 1.30pm, Plenary
$214.1 million for a Nature Positive Plan (Budget Paper 2, page 77)
RI Australia 2023: Groundwork – Latest lessons from piloting the Taskforce on Nature Related Financial Disclosures (TNFD)
This discussion on the TNFD will touch on the importance of accessible data. The Government has committed $51.5 million over 4 years from 2023–24, and $4.5 million per year ongoing, to establish Environment Information Australia to provide an authoritative source of high-quality environmental information.
Thursday 11 May, 2:15pm, Plenary
$8 million for the establishment of a new Anti-Slavery Commissioner (Budget Paper, page 60)
Modern Slavery: The State of Play and Where Investors fit in
UN Special Rapporteur Tomoya Obokata will be interviewed by RIAA Chair Ross Piper, Chief Executive of Superannuation at Australian Ethical Investment. Wednesday 10 May, 9.55am, Plenary
$199.8 million for Targeting Entrenched Community Disadvantage (Budget Paper 2, page 206)
RI Australia 2023 – Keynote address: Michael Traill AM – The evolution of impact investment in an era of sustainable finance
Michael Traill AM was Chair of the Department of Prime Minister and Cabinet’s Social Impact Investing Taskforce, which has supported the establishment of an impact investment wholesaler.
Wednesday 10 May, 12.25pm, Plenary
For further information, please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718
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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,
- 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 CEO Simon O’Connor says ‘RIAA welcomes a federal budget that has made positive first steps in supporting a comprehensive approach to sustainable finance. From social impact investment to the critical frameworks that will underpin a shift of capital to support the low-carbon transition via a taxonomy, these steps mark important progress that recognises the role of finance in supporting a sustainable Australia.
‘Australia has been at great risk of falling behind the race for capital as the world transitions to a lowcarbon future. These commitments show we are back on the right track as a nation, building a comprehensive strategy that will ensure private finance aligns with public sector commitments to support this huge industrial transformation required over coming decades.
‘We applaud the Government’s commitment to a Nature Positive Plan. Investors are increasingly focused on nature risk, and are starting to factor environmental considerations into investment decisionmaking. The Government’s commitment to providing accessible environmental information should help reporting against the Taskforce on Nature-related Financial Disclosures (TNFD) framework, which will be key to delivering on the Government’s Nature Positive Plan. Going forward, strong environmental laws will be essential to protecting Australia’s incredible biodiversity and providing investors with certainty.
‘Funding for impact investment will lay the important initial foundations for supporting entrenched disadvantage in the community, allowing finance to play a role in delivering on the big social challenges of our time. It marks the first steps in responding to the former government’s social impact investment taskforce.’
RIAA’s Responsible Investment Australia 2023 conference on 10 & 11 May will dive deep into many of these major announcements. Conference session details are included below for media attending the conference. For more information about the RI Australia 2023 conference or our comments below, or to gain media access to the conference (in-person or virtual), please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718.
$14.2 million over four years for a comprehensive sustainable finance agenda, including a sustainable finance taxonomy (Budget Paper 2, page 209)
RI Australia 2023 – What will Australia’s sustainable finance taxonomy look like? (panel)
Hear from the experts at the centre of the emerging Australian taxonomy, including APRA Executive Director Dr Sean Carmody and Australian Sustainable Finance Institute CEO Kristy Graham, who is partnering with the Government to establish the taxonomy.
Thursday 11 May, 11.55am, Plenary
RI Australia 2023 – Keynote address:
ASIC Deputy Chair Karen Chester – Greenwashing in Australia: A view from the regulator ASIC Deputy Chair Karen Chester will deliver a keynote on the regulator’s plans, followed by a fireside chat with RIAA CEO Simon O’Connor.
Wednesday 10 May, 1.35pm, Plenary
RI Australia 2023 – What’s on the label? Industry and regulator efforts to combat greenwashing (panel)
Industry experts will unpack the regulatory mood in Australia and overseas, and initiatives to standardise and clarify what sits under financial product ‘green’ claims. Thursday 11 May, 1.30pm, Plenary
$214.1 million for a Nature Positive Plan (Budget Paper 2, page 77)
RI Australia 2023: Groundwork – Latest lessons from piloting the Taskforce on Nature Related Financial Disclosures (TNFD)
This discussion on the TNFD will touch on the importance of accessible data. The Government has committed $51.5 million over 4 years from 2023–24, and $4.5 million per year ongoing, to establish Environment Information Australia to provide an authoritative source of high-quality environmental information.
Thursday 11 May, 2:15pm, Plenary
$8 million for the establishment of a new Anti-Slavery Commissioner (Budget Paper, page 60)
Modern Slavery: The State of Play and Where Investors fit in
UN Special Rapporteur Tomoya Obokata will be interviewed by RIAA Chair Ross Piper, Chief Executive of Superannuation at Australian Ethical Investment. Wednesday 10 May, 9.55am, Plenary
$199.8 million for Targeting Entrenched Community Disadvantage (Budget Paper 2, page 206)
RI Australia 2023 – Keynote address: Michael Traill AM – The evolution of impact investment in an era of sustainable finance
Michael Traill AM was Chair of the Department of Prime Minister and Cabinet’s Social Impact Investing Taskforce, which has supported the establishment of an impact investment wholesaler.
Wednesday 10 May, 12.25pm, Plenary
For further information, please contact Ada Tso, Marketing & Communications Manager, ada@responsibleinvestment.org, +61481308718
