Australian Companies to Be Forced to Reveal Green Credentials
Some of Australia’s largest banking, insurance, and pension institutions have backed the government’s move to force companies to reveal what they are doing to reduce greenhouse gas emissions.
The comments come as Treasurer Jim Chalmers announced the federal Labor government would create a regulatory framework around sustainable investment.
In a joint media release (pdf) on Dec. 12, around 22 of Australia’s biggest financial institutions, including the “Big Four” banks—Commonwealth, ANZ, Westpac, and National Australia Bank—as well as Hesta, Allianz, and KPMG said they recognised their “critical role in shaping Australia’s future.”
“Our activities—which include finance and investment, insurance, investor stewardship, client relationships and advice, stakeholder engagement, and policy engagement–can provide significant support for the transition to a net-zero, climate resilient Australian economy,” they said in a statement….