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Disclosure, action, impact: Climate change is pushing Australia to further embrace responsible investment practices
In March of this year, Australia’s leading financial sector stakeholders formed the Australian Sustainable Finance Initiative. The initiative aims to develop a set of recommendations for the finance sector to contribute to delivering on international commitments, such as the Paris Agreement, and to support the transition to a low-carbon, resilient and sustainable economy. It is a clear sign Australian regulators, asset owners — including banks, superannuation funds and insurance companies — and asset managers have acknowledged climate change poses risks to the financial system and investment portfolios. And with the built environment both contributing to the climate crisis and being affected by its impact, real estate industry stakeholders in Australia increasingly seek to address and mitigate related risks, as well as invest in solutions that provide positive environmental, social and economic outcomes.
Regulators and policymakers move forward