Policy & Regulation

Financial Markets Authority (FMA) proposal to provide a class exemption for certain green, social, sustainability, and sustainability-linked (GSSS) bonds, acknowledging the increasing consumer and retail investor interest in responsible investing, as well as the role that the debt market can play in the transition.

Broad review of the framework and design of an Annual Superannuation Performance Test.

Financial Markets Authority (FMA) provided insights into its approach to regulation and focus on demonstrating good conduct, with 7 proposed outcomes.

On 2 November 2023, the Australian Government released its draft Sustainable Finance Strategy and consultation paper.

The Responsible Investment Association Australasia (RIAA) strongly welcomes the Treasurer’s Sustainable Finance Strategy as a pivotal milestone, highlighting the significant role of investment labels in the responsible investment industry. The Strategy, with one of its priorities on developing a labelling system for investment products marketed as sustainable, marks a crucial step towards aligning the finance sector with Australia’s net-zero transition. The Treasurer’s consultation paper sets the stage for a remarkable transformation in Australia’s financial landscape by introducing a labelling system for investment products marketed as sustainable. RIAA underscores the critical impact of this development on the responsible investment sector, which has been a priority outlined in the Strategy. Simon O’Connor, CEO at RIAA, acknowledged the Sustainable Finance Agenda as a significant stride towards international alignment but stresses the urgency of Australia’s actions. “The government knows it has a rare opportunity to rapidly change the landscape of investment and finance through this Strategy. But let’s not kid ourselves, whilst we’re not starting from scratch, we are late to this important policy discussion and so must move fast and leverage existing industry efforts to play catch up,” said Simon.

We are in the midst of significant change in the way finance operates in Australia and with the Treasurer set to shortly release a draft Sustainable Finance Strategy, this change is about to accelerate further.

Exposure draft from the Australian Treasury to legislate the objective of superannuation ‘to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way'.

RIAA and a coalition that represents the voice of 15 peak professional, industry and investor bodies co-signed a submission to the International Sustainability Standards Board (ISSB) request for information consultation on agenda priorities September 2023.

International Sustainability Standards Board (ISSB) Request of Information Consultation on Agenda Priorities to shape the next two-year work plan of the ISSB.

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.