Australian ESG News – Q3 2021

by | May 20, 2022 | ESG

Greenpeace Australia Pacific launches Hero to zero: uncovering the truth of corporate Australia’s climate action claims, reviewing the targets of 80 of the highest carbon emitting ASX200 Companies. Greenpeace claims that many of the carbon net zero initiatives are corporate Greenwash such as purchasing carbon offset schemes. They specifically highlighted how Qantas, Santos and AGL make impressive net zero claims without reducing their usage or production of fossil fuels.

Australian businesses struggle to meet expectations placed on them to better understand ESG risks in their supply chain with first annual modern slavery reporting described as “race to the middle”. Entities with a minimum annual consolidated revenue of $100 million are required to conduct modern slavery reporting. Therefore, it is crucial that entities understand how to assess their own supply chains and operations in order to comply with the regulation.

Senate passed a bill to ban anyone from importing products made using forced labour – this needs to still pass the House of Representatives, however the impacts of this bill if successful will be far reaching for a range of industries importing goods from emerging markets. · The bill was proposed by independent senator Rex Patrick who believes that its “An important step forward in the international efforts to combat modern slavery”( https://www.theguardian.com/australia-news/2021/aug/23/australian-senate-poised-to-pass-bill-banning-imports-made-using-forced-labour). The bill will amend the Customs Act, where it will prohibit importing goods into Australia that are manufactured, in whole or in part, with the use of forced labour.

Green Bond issuances on track to top over $500 billion for 2021 with post-pandemic recovery being led by responsible capital. Green Bonds are becoming increasingly popular for large organisations due to their ability to leverage markets to help fund 2050 Net Zero Emissions targets. Banks, property, renewable energy, waste, and state governments are currently the most prominent issuers of green debt.

The last 12 months have seen some more very significant developments in this space, with 2021 shaping-up as being at least as controversial, as courts continue to provide greater clarity surrounding the mechanisms providing returns to litigation funders and overlapping class actions; stakeholders await the first Group Costs Order under Victoria’s contingency fee scheme; and participants work their way through the consequences of recent legislation designed to restrict class actions in Australia.

Update on class actions in Australia | International Bar Association (ibanet.org)

A wide range of Sustainability-Linked leans are increasingly in demand for Australian funds and borrowers with issuances such as:

  • AirTrunk – $2.1 billion corporate sustainability-linked loan.

  • CBA sustainability-linked loan for Agriculture

  • Frasers Property – Secured a $300 million five year sustainability linked loan

  • ISPT – Secured a $2.8 billion sustainability linked loan facility

NAB launched specialist derivative products tied to environmental, social and governance (ESG) targets. https://www.miragenews.com/nab-extends-offering-of-esg-derivatives-to-623327/

Contact us to discuss how your organisation can reduce ESG risks, create an effective ESG strategy, reduce their carbon footprint and better manage ESG risk in your supply chain.

Recent Posts

about-esgri

About the ESGRI Academy

by | Jun 21, 2022 | ESG | 0 Comments

ESGRI’s platform provides a wealth of opportunities for employees to learn new skills, advance their careers and instill a strong sense of ESG throughout an...

Supply-Chains

Real-Time Supply Chain ESG management

by | Jun 21, 2022 | ESG | 0 Comments

“Two-thirds of the average company’s environment, social, and governance footprint lies with suppliers. Procurement leaders who take bold action can make a decisive...

Pricing-Benefits-to-both-issuers-and-investors-for-Green-Bonds-Climate-Bonds-Initiative

Pricing Benefits to both issuers and investors for Green Bonds | Climate Bonds Initiative

by | May 20, 2022 | ESG | 0 Comments

The Climate Bonds Initiative recently released the latest Green Bond Pricing report, with an assessment of the performance of issuances in the second half of 2021. The...

ESG-Impact-announces-partnership-with-Ethical-Trade-Alliance

ESG Impact announces partnership with Ethical Trade Alliance

by | May 20, 2022 | ESG | 0 Comments

Media Release – March 2, 2022 ESG Impact (ESGI) is pleased to announce its partnership with Ethical Trade Alliance (ETA). As an alliance partner of the ETA, ESGRI’s...

Australian ESG News – Q3 2021

by | May 20, 2022 | ESG | 0 Comments

Greenpeace Australia Pacific launches Hero to zero: uncovering the truth of corporate Australia's climate action claims, reviewing the targets of 80 of the highest...

Global ESG News – Q3 2021

by | May 20, 2022 | ESG | 0 Comments

The Biden Plan for a clean energy revolution and environmental proposal will make a federal investment of $1.7 trillion over the next ten years, leveraging additional...

Environmental, Social & Governance (ESG) Supply Chain Risk Management

by | May 20, 2022 | ESG | 0 Comments

Modern day supply chains are complex, changing, and fraught with risk management challenges. One scary statistic we hear these days is that over the past 2 two years...

Eden-Towers-Agritech-ESG-Report

Eden Towers – Agritech ESG Report

by | May 20, 2022 | ESG | 0 Comments

Eden Towers completed an Environmental, Social and Governance (ESG) review and first ESG report working with the team from ESG Impact, and key supplier and partner...

ESG-Strategy-and-Reporting-for-global-smart-city

ESG Strategy and Reporting for Global Smart City

by | May 20, 2022 | ESG | 0 Comments

We are very excited to have recently completed the first ESG report for Enyimba Economic City (EEC) in Nigeria. A special economic zone project of a comparable size...