Funds Management News

Finance sector urged to support net-zero push

Posted by Anton Murray Consulting on . Posted in Funds Management News

A number of superannuation funds, investment managers, banks and insurers have set out a road map, calling for players in the finance sector to support the transition of the economy towards net-zero emissions among other reforms. The Australian Sustainable Finance Initiative (ASFI), which comprises 80 organisations including major banks, insurers, super funds and other stakeholders, released its road map on Tuesday, calling financial system participants to embed sustainability into their company policies. The road map has made 37 recommendations aiming to enable the sector, along with regulators and governments to boost Australia’s financial system in its recovery from COVID and to deliver a transition to a net-zero economy.

The road map has focused on embedding sustainability into company leadership and practice, as well as building sustainable finance markets. It was worked on by more than 140 participants from organisations spanning financial institutions, academia, regulators and government. APRA and ASIC had appointed civil society representatives to the ASFI steering committee, who sat alongside a number of banks, insurers and investors.

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