Bank backs Australian Sustainable Finance Initiative Roadmap
24 November 2020
- This is a bold plan for aligning Australia’s financial system with a sustainable, resilient and prosperous future for all Australians that we support.
- The Roadmap calls for financial system participants to embed sustainability into their organisation’s purpose, strategy and leadership.
ASFI is an unprecedented collaboration of leaders of banks, superannuation funds, insurance companies, financial sector peak bodies and academia.A broad set of experts from 80 organisations was appointed in 2019 to working groups to develop the Roadmap.
We are one of three mutual banks that contributed and helped form the recommendations.
Released in November 2020, the Roadmap makes 37 recommendations that will enable the financial services sector, together with regulators and governments, to strengthen Australia’s financial system with the aim of recovering from the impacts of COVID-19 and delivering a transition to a net zero, resource-efficient and inclusive economy.
The commitment to build the Roadmap was made at the 2018 United Nations Environment Programme Finance Initiative (UNEP FI) conference on Financing a Resilient and Sustainable Economy in Sydney, where the Bank was invited to speak on the panel discussing sustainable banking practise across the banking sector.
ASFI is committed to progressing the implementation of this Roadmap into 2021, with an implementation phase starting immediately.