FSC sets out climate change guidance
The Financial Services Council (FSC) has set out guidance for fund managers to ensure they are acting on climate change risk.
The guidance covered how fund managers could set industry expectations on net zero targets especially assessing emissions, labelling investment products to avoid climate greenwashing and fulfilling their legal obligations to disclose climate-related risks.
FSC chief executive, Blake Briggs, said: “The Australian funds management industry takes the challenge of climate change seriously, along with its role in allocating capital to facilitate the transition to a low carbon economy.
“The Glasgow Financial Alliance for Net Zero estimates $4.5 trillion USD a year from 2026 is required to transition the global economy to net zero by 2050.
“Investment funds are playing a vital role in this economic transition by working with their portfolio companies to adopt lower emissions practices.”
He said the FSC’s guidance was a “signal to Government, regulators and consumers” that the Australian investment community was making climate change risk a top priority for them.
AUTHOR
Laura Dew
Recommended for you
While the number of advisers switching tends to tick up at the end of the year, Padua Wealth Data reveals which business model sees the most adviser loyalty.
Private credit, auditor misconduct and super trustees have been listed among ASIC’s priorities as the regulator unveils its top focus points for the coming year.
Melbourne-based investment manager Woodbridge Capital has appointed an origination director for south-east Queensland, strengthening its foothold in the region as part of its national expansion strategy.
Barings has appointed a new head of Asia Pacific to succeed Duncan Robertson, who will retire after almost two decades with the firm.
