Australian Sustainable Finance Initiative

Item

Title

Australian Sustainable Finance Initiative

depicts

Description

The Australian Sustainable Finance Initiative (ASFI) is an unprecedented collaboration formed to help shape an Australian economy that prioritises human well-being, social equity and environmental protection, while underpinning financial system resilience and stability.

ASFI brings together leaders spanning Australia’s major banks, superannuation funds, insurance companies, financial sector peak bodies and academia to develop a Sustainable Finance Roadmap, in consultation with diverse sectors and stakeholders.

The roadmap, to be launched in 2020, will recommend pathways, policies and frameworks to enable the financial services sector to contribute more systematically to the transition to a more resilient and sustainable economy, consistent with global goals such as the UN Sustainable Development Goals and the Paris Agreement on climate change.

Its objectives include:

1. Mobilising capital to deliver on our national and global sustainable development goals commensurable with science-based targets and informed by international conventions, treaties and norms;

2. Enhancing the sustainability, resilience and stability of the financial system by embedding sustainability and human rights considerations into financial markets, products and services to better account for and manage risk and impact;

3. Ensuring better informed financial decision making by enhancing disclosures and transparency in financial markets for enhanced valuation of environmental and social risks and opportunities; and

4. Delivering a financial system that meets community and consumer expectations around sustainability and norms including informed engagement, improved and informed choice, effective disclosures and client interests while enhancing financial inclusion and financial well-being.

ASFI was born out of industry discussions which took place at the end of 2017, including the Financing a Resilient and Sustainable Economy conference held in July 2018 in Sydney. At this event, representatives from academia, government, the finance sector, industry bodies, regulators and civil society discussed the importance of aligning the finance sector in Australia and New Zealand with the delivery of resilient and sustainable economies, including drawing on international developments.

The conference reinforced strong support for the finance sector to lead a sustainable finance roadmap initiative in Australia, with international and regional peak bodies pledging commitment to help deliver the Roadmap (see joint statement).

Group organising/creating the project

Project focus

Climate

uri

Date initiated (if known)

December 2017

Current status

Ongoing

Item sets

Linked resources

Filter by property

current project
Title Alternate label Class
Investor Group on Climate Change Project Names (where applicable) Agent