Climate

Ministry for the Environment (MfE) on Te hau mārohi ki anamata - Transitioning to a low-emissions and climate-resilient future, aka Emissions Reduction Plan (ERP).

Draft Standard from The External Reporting Board (XRB) to frame how New Zealand investors and large publicly listed companies will disclose their climate change risks, under new laws set to take effect in 2022. First consultation on Governance and Risk Management.

The Australian Government’s announcement that the country will target net zero emissions by 2050 is welcomed, however its 2030 target remains insufficient for positioning Australia competitively into the future and achieving a sustainable and productive economy, the Responsible Investment Association Australasia (RIAA) has said. The Government has announced that Australia will keep its commitment to reducing emissions 26-28% by 2030 (compared to 2005 levels). “The announcement to target net zero emissions by 2050 aligns Australia with our key trading partners and is welcomed. However Australia’s near-term target of achieving emissions reductions of 26-28% by 2030 is not aligned with the Paris Agreement’s interim targets of 35-55% and is insufficient for readying the Australian economy for the transition needed,” said Nicolette Boele, RIAA’s Executive, Policy and Standards. “Projections do not offer business and investor sufficient policy certainty. Australia’s projections of achieving 30-35% reductions by 2030 should be government policy, providing investors with more reliable parameters for better risk pricing and valuation.”

Who verifies the claims being made in products and how are these assessed? RIAA’s own Senior Responsible Investment Analyst, Ryan Cook explains the Responsible Investment Certification Program and how our team assesses product provider claims around climate change and renewable energy opportunities, so that you have confidence that the fund is aligned to your clients’ values.

What options do you have available to you now? Hear from five product providers (Australian Ethical, Nanuk Asset Management, Federation Asset Management, Northern Trust Asset Management & BetaShares) who have achieved certification under RIAA’s Responsible Investment Certification Program.

Featuring climate expert Professor David Karoly of the CSIRO Climate Science Centre to understand the physical risks associated with climate change both in Australia and globally, including key findings from the recent IPCC 6th Assessment report.

Draft Prudential Practice Guide CPG 229 Climate Change Financial Risks (CPG 229) by the Australian Prudential Regulation Authority (APRA), designed to assist APRA-regulated entities in managing climate-related risks and opportunities as part of their existing risk management and governance frameworks.

Climate Change Commission's first package of advice to government to help Aotearoa transition to a thriving, climate-resilient and low emissions future.

Two climate change bills to Parliament to set out a clear framework for national plans to be put in place and updated by the Australian Government, and for progress to be rigorously monitored and reported.

The Responsible Investment Association Australasia (RIAA) has welcomed the New Zealand Government’s announcement today that it will require the business and finance sector to report on climate risks. “This marks a significant step forward and demonstrates New Zealand’s exemplary leadership on the global issue of climate change and the sustainability of New Zealand’s financial system and economy” said RIAA CEO Simon O’Connor. “This requirement makes a pivotal contribution to New Zealand’s comprehensive engagement on climate change and help New Zealand to deliver upon its commitment to the Paris agreement. Once implemented, investors will be better able to price and value companies within the portfolios they manage, as well as realign portfolios to contribute to a lower carbon world.” “New Zealand’s future resilience and prosperity depends on being able to navigate climate change risk. It is now the expectation that our finance and corporate sectors deliver positive social and environmental outcomes, and they need to be able to measure and report on these over time.”