Sustainable finance growing in Australia

In June 2024, Australia made significant strides in the field of sustainable finance.

Sustainable finance growing in Australia

In June 2024, Australia made significant strides in the field of sustainable finance. The government has allocated approximately $83.7 million over six years to financial regulators, reporting bodies, and the Treasury to accelerate the regulation and governance of Australian financial markets in achieving Net Zero targets.

Key developments include:

  • The Treasury Laws Amendment Bill 2024, which includes compulsory climate-related disclosures, passed its third reading on June 6, 2024.
  • The Sustainable Finance Roadmap was published on June 19, 2024.
  • Australian Green Treasury Bonds were issued on June 4, 2024.
  • The AASB proposed sustainability reporting and climate-related financial disclosures.
  • The ASFI’s consultation on the Australian Sustainable Finance Taxonomy closed on June 30, 2024.
  • ASIC successfully took action against Active Super for greenwashing on June 5, 2024.

These developments are expected to shape the Australian sustainable finance landscape in the coming years.

For more information see this article by Sirisha Pinnalihttps://www.linkedin.com/pulse/sustainable-finance-wrap-up-june-2024-promising-close-sirisha-pinnali-hb89c/