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Feb 2023

Australia: 20 top financial and business bodies agree on need for sustainability reporting standards

Source: Asia Insurance Review | Sep 2022

Twenty influential business and finance peak bodies, including the Insurance Council of Australia and the Financial Services Council, have come to an unprecedented consensus on the need for sustainability reporting including action on climate risk through a new reporting regime that aims to set a global baseline.
The group has welcomed the International Sustainability Standards Board draft sustainability standards. The group considers clear, transparent, comprehensive and comparable disclosure of sustainability-related information to be part of the foundation of a well-functioning global financial system.
The peak bodies together represent more than 400 companies, approximately 300 investors with $33tn of assets under management, and 500,000 business and finance professionals, according to a statement by the Australian Banking Association that is a member of the group. A 
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