FSC sets out climate change guidance

FSC/climate-change/

4 August 2022
| By Laura Dew |
image
image
expand image

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.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

1 month 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 3 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 2 days ago

The Federal Court has made interim orders to freeze the assets of a managed investment scheme, its responsible entity, and a director....

1 month ago

TOP PERFORMING FUNDS