How can the UK boost sustainable finance flow?

How can the UK increase sustainable finance flow? 🌿 At a recent Sustainable Finance Forum hosted by Bloomberg in London, we explored: ◾ The emerging UK regulatory landscape ◾ The potential impact of this year’s general election on the regulatory agenda ◾ How the UK can help unblock investment flows to a sustainable future Read more in this roundup by Nadia Humphreys, Global Head of Sustainable Finance Data Solutions at Bloomberg ➡️ https://bloom.bg/3WBl9Et #SustainableFinance #ESG #innovation

How can the UK increase sustainable finance flow? 🌿 At a recent Sustainable Finance Forum hosted by Bloomberg in London, we explored: ◾ The emerging UK regulatory landscape ◾ The potential impact of this year’s general election on the regulatory agenda ◾ How the UK can help unblock investment flows to a sustainable future Read more in this roundup by Nadia Humphreys, Global Head of Sustainable Finance Data Solutions at Bloomberg ➡️ https://bloom.bg/4cOkkgY #SustainableFinance #ESG #innovation

How can the UK increase sustainable finance flow? 🌿 At a recent Sustainable Finance Forum hosted by Bloomberg in London, we explored: ◾ The emerging UK regulatory landscape ◾ The potential impact of this year’s general election on the regulatory agenda ◾ How the UK can help unblock investment flows to a sustainable future Read more in this roundup by Nadia Humphreys, Global Head of Sustainable Finance Data Solutions at Bloomberg ➡️ https://bloom.bg/3A094zJ #Sustainability #Finance #Banking #ESG

From regulations to incentives, governments shape the future of finance for a greener, fairer world. Collaboration is key to addressing global challenges. https://lnkd.in/gPc4gshZ #SustainableFinance #ESG #GreenEconomy #GlobalCooperation #ClimateAction  

As entities start to establish their reporting systems to meet the requirements of the anticipated mandatory climate-related financial disclosures, it's also worth keeping an eye on the horizon to see what other sustainability-related developments may be coming. The Australian Treasury has today released their Sustainable Finance Roadmap, of which mandatory climate-related financial disclosures is one element. Other elements that are highlighted in the report relevant to sustainability reporting include: - The finalisation of the Australian Sustainable Finance Taxonomy (currently open for consultation on Australian Sustainable Finance Institute's website, closing 30 June) by end of 2024. - Treasury to develop and publish best practice guidance for the disclosure of corporate transition plans by the end of 2025. - The Government's encouragement of voluntary nature-related financial disclosures. The full Roadmap is available here: https://lnkd.in/d7HrTbmF #esgreporting #sustainabilityreporting #climatereporting

A great read about the responsibility of the Financial Sector in the transition to a greener economy. And this is a summary quite on point: "While the #financialsector can assist economic agents in voluntarily considering environmental and social externalities in investment decisions, it remains incumbent on governments to legislate externalities away. Regulation to date has focused on sustainability disclosures and the fairness of sustainability claims – certainly, transparency and #accountability matter, but they need to be part of a broader, more comprehensive approach. Without clear and credible signals about substantive action from governments, including a robust regulatory framework (stringent and enforced rules) and a concrete schedule for action (binding emissions targets, comprehensive carbon pricing mechanisms, support to research and development), economic agents will continue to prioritise short-term gains over long-term #sustainability, and the financial industry will continue to lend support to this project."

Great to see Treasury release its Sustainable Finance Roadmap this week. Make no mistake, this will help drive substantial change across all industries in Australia, and for those well prepared for it, allow them to benefit from the green transition. Key takeaways in the roadmap for me include: - The Australian Accounting Standards Board (AASB) is expected to finalise its climate reporting standards in August 2024, - The Australian Auditing and Assurance Board (AUASB) is developing assurance standards for climate disclosures in late 2024, - Reporting requirements for the first set of companies to be covered by the new rules will commence on January 1, 2025, and - Treasury aims to develop and publish best practice guidance for the disclosure of corporate transition plans by the end of 2025. Busier times ahead! https://lnkd.in/gxuWJa8P

These insights were shared during the “MICSRGC International Forum: Innovative & Sustainable Finance & ESG” https://lnkd.in/gTx5tKHS

🇦🇺 The Australian govt. released its Sustainable Finance Roadmap to reform financial markets and mobilize private capital for the net zero transition. ___________________________________ 1.1 The initial focus of the government’s sustainable finance strategy is on the establishment of mandatory disclosure of climate-related financial risks and opportunities. 1.2 The draft legislation released earlier this year mentions reporting requirements for large and medium sized companies, including climate-related risks and opportunities, and GHG emissions across the value chain. 1.3 The reporting standards will be finalized in Aug 2024, development of assurance standards in late 2024, and reporting requirements for the first set of companies will commence on Jan 1, 2025. 2.1 There are plans to develop a Sustainable Finance Taxonomy, providing a set of criteria that can be used to evaluate the alignment of economic activities to climate objectives. 2.2 The initial taxonomy will be finalized by end of 2024. It covers “green” and “transition” activities that contribute to climate change mitigation; focussing on six key sectors- electricity & energy, industry, built environment, transport, resources, agriculture, and land. 2.3 The govt. has proposed developing labels for investment products marketed as sustainable, aimed at helping investors understand how sustainability is factored into investment products. 3. The govt. will monitor and address greenwashing, expand regulatory capabilities to identify and respond to climate-related financial risks to banks, insurers, etc. and help address key sustainability data challenges. 4. Additionally, the roadmap covers the government’s issuance of green bonds, noting that its first issuance was early this month, with the offering raising $7 billion. #regulations #netzero #climate #greenwashing #investments