Events & News

Stewardship, or active ownership, is being embraced by more and more investors as a means to deliver long-term returns while contributing to a more sustainable future. RI Australia 2023 explored current trends in stewardship, examined cases of best practice and explored whether stewardship really can deliver the outcomes we all need.

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.

With increasing attention on greenwashing in finance, the largest and most comprehensive responsible investment conference in the Southern Hemisphere, RI Australia 2023, will take place in Melbourne and online on 10-11 May 2023. Held by the Responsible Investment Association Australasia (RIAA), the two-day conference will bring together more than 800 sustainability leaders and industry practitioners with 90 expert speakers across more than 30 sessions to demonstrate best practice in the burgeoning sustainable finance sector.

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.

Culture is widely acknowledged as a critical element that can either catalyse or undermine business success. But it is complicated to manage for a company, let alone measure as outsiders.

Last week saw the most significant greenwashing action taken to date by regulators in Australasia. A court action was launched by Australian Securities and Investments Commission (ASIC) against Mercer Superannuation (Australia) Ltd alleging greenwashing conduct in a number of their superannuation investment options.

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.

Proposal from the Australian Government for a legislated objective of superannuation being ‘to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way.’

The Australian Prudential Regulation Authority (APRA) renewed expectations of superannuation funds in prudential guidance SPG 530 Investment Governance.