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.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.