Gibbs' departure is part of an "ongoing board renewal process" and he will support an orderly transition, the ethical investment manager said.

Commenting on his departure, Gibbs said he was proud of the progress the company made under his leadership.

"As Australian Ethical marks 40 years of ethical investment leadership, I am deeply proud of what the board, management team and our people have achieved together," he said.

"I have great confidence in the strength of the business, the quality of the board and the momentum behind Australian Ethical's purpose and strategy."

Meanwhile, Australian Ethical John McMurdo thanked Gibbs for his contribution.

"Steve has been a remarkable steward of Australian Ethical. Under his leadership, the company has grown from $700 million in funds under management to $14.5 billion and joined the ASX300," McMurdo said.

"Steve has embodied the purpose of the organisation - investing for a better world - and is widely acknowledged across the sector as a passionate and committed advocate for a more sustainable planet and better outcomes for people and animals.

"Steve will leave Australian Ethical next year with the deep gratitude of the board, management, shareholders and the many stakeholders and causes he has so successfully supported and championed."

Gibbs will also retire from the Australian Ethical Foundation by 30 March 2027, and from Australian Ethical Superannuation by 31 December 2027.

Australian Ethical welcomed Brian Bissker and Karen Orvad to the board in recent years as part of the transition and is "well advanced" in the selection process to appoint two further directors in the first half of 2027.

The European Union (EU) plans to triple its data centre capacity over the next five to seven years.

"Data centres are essential to Europe's digital future. Increasing computing capacity in Europe is important for strengthening Europe's technological independence and digital sovereignty," European Commission said.

"Still, this growth brings challenges which need to be addressed. In addition to using more energy, an increase of data centres could put extra pressure on electricity grids and the use of natural resources, such as water, and contribute to increased carbon emissions.

"To limit these impacts, it is essential that data centres are highly energy- and water-efficient and sustainably integrated in the energy system."

The commission said a common rating scheme would help give transparent information about the actual use of resources such as energy and water by data centres.

"The rating scheme will cover individual data centres with a capacity above 500 kW. It will also cover data centres' contribution to the grid, such as the reuse of waste heat, the addition of clean energy generation capacities as well as flexibility," European Commission said.

Sustainable, flexible and well-designed data centres that can adjust their electricity use to the grids conditions, can help lower the overall cost of the electricity system, improve grid stability, and integrate more renewable energy, the commission added.

"Tripling our data centre capacity cannot mean tripling the pressure on our grids, our water and our energy bills," European Commission executive vice-president for a clean, just and competitive transition Teresa Ribera said.

"That starts with transparency, rating large data centres depending on their impact on our energy system. Efficient, flexible, powered by additional clean energy and reusing waste heat, this is how data centres become an asset for EU's energy transition."

The first sustainability labels for individual data centres are expected to be displayed in 2027.

The investment follows Ambers recent partnership with E.ON, one of the UK's largest energy suppliers, which also participated in the funding round.

Founded in Melbourne in 2017 BY Chris Thompson and Dan Adams, Amber operates as an energy retailer in Australia and provides technology that enables households to optimise the use and storage of energy.

The company's distributed energy resources platform gives households access to wholesale energy pricing through real-time optimisation of batteries and generational assets. Its SmartShift technology uses AI-driven forecasts of wholesale electricity prices, household solar generation and consumption to automate energy decisions.

Amber said it has more than 50% market share of automated batteries in Australia, making it the country's largest battery automation provider.

Morgan Stanely Investment head of climate private equity investing and 1GT Vikram Raju said energy flexibility would become increasingly important as electricity systems become more decentralised.

"We believe Amber will play a consequential role in enabling the energy transition in Australia, Europe and beyond," Raju said.

"As power systems become increasingly decentralised, energy flexibility and household-level engagement are essential to integrating renewable energy at scale."

The funding will provide growth capital and strategic support as Amber expands internationally, including through partnerships with utilities.

Amber co-founder Chris Thompson said the investment would support the company's international expansion while allowing it to build on its Australian operations.

"We've built a leading energy automation platform in Australia, and this investment gives us the backing to build on that leadership globally," Thompson said.

Amber's technology enables households to optimise rooftop solar, batteries and electric vehicles, while accessing wholesale energy markets and selling excess renewable generation.

The company said the platform is designed to improve grid efficiency, support renewable energy integration and reduce reliance on fossil fuel generation as distributed energy resources become more prevalent.

The regulator alleges Heraghty failed to disclose and manage conflicts of interest from an alleged undisclosed relationship he had with a senior executive at the company.

Furthermore, ASIC said Heraghty continued to supervise the senior executive and participated in decisions affecting their employment, remuneration, incentives, rewards and redundancy package. He also took part in board and committee discussions of complaints and anticipated legal proceedings on the alleged undisclosed relationship.

ASIC said Heraghty provided information to Super Retail's board and the market, omitting information about the alleged undisclosed relationship.

"ASIC alleges Heraghty put himself in a position where his personal interests conflicted with his duties to Super Retail Group and that he failed to properly disclose and manage that conflict," ASIC chair Sarah Court said.

"The allegations in this matter raise important issues about governance, transparency and trust in the information provided to boards and the market."

ASIC alleges these matters exposed Super Retail Group to foreseeable risks of harm, including risks to its corporate reputation, complaints and litigation, regulatory action, costs, and harm to its share price and shareholders.

"This case is not about private relationships, but whether a director properly disclosed and managed conflicts of interest and met their duties to the company and shareholders," Court said.

"Trust and integrity underpin Australia's market and corporate sector, and it is critical that directors fully meet their obligations of transparency and accountability; where we consider they have failed to do so ASIC will not hesitate to act."

Providing misleading information to a company board of the ASX, can attract a maximum penalty of $1.56 million per breach for contraventions under the Corporations Act.

Based in Melbourne, Anthony Hamawi assumes his new role in mid-October. He will report to Wayne Gordon, the head of advisory and sales for Australia.

Hamawi was most recently a director at JBWere, having joined in early 2025.

Before that, he spent a decade with Perpetual Private where he held the position of national manager in the community and social investment team.

In that role, Hamawi managed and drove Perpetual's for-purpose client service activities with a strong focus on governance, financial expertise, and fostering collaborations that promote social responsibility and sustainable outcomes.

At the time, David Hurley, who was an associate partner at Perpetual Private for more than seven years, also moved over to JBWere as a director.

With his appointment, the business segment will be renamed from "not-for-profit" to "for purpose organisations."

Andrew Bird, the head of UBS Global Wealth Management Australia, said the change better reflects the breadth of client served and aligns more closely with the missions, objectives and impact aspirations of the organisations within the segment.

"We continue to see significant opportunities to deepen relationships with existing clients, broaden our engagement across the sector and further strengthen UBS's position as a trusted partner to philanthropic, charitable, and purpose-led organisations," he said.

"Anthony's appointment underscores our ongoing investment in this important client segment. His experience and sector expertise will help us deepen engagement with existing clients, strengthen our market presence, and expand our ability to identify, develop, and capitalise on new opportunities across the sector."

LGT Wealth Management Australia recently expanded its Syndey private client adviser team with five senior hires from UBS Wealth Management.

Michael Marr, Sean Carroll Seamus quick, Stephen Cabot and Patrick Armitage joined as senior investment advisers.

🔥 Ethinvest: A call to make impact investing accessible for everyday Australians

❓ Question:

Impact investing has matured significantly over the past decade, but many of the most attractive opportunities remain out of reach for everyday investors. What is changing in the impact investing landscape, and how can investors use both their capital and their shareholder influence to create positive environmental and social outcomes?

✅ Answer:

According to Trevor Thomas, managing director of Ethinvest, impact investing is evolving from a niche market into an increasingly sophisticated asset class that is attracting institutional-grade fund managers and larger pools of capital. While impact investing has traditionally been dominated by wholesale investors, efforts are underway to make high-quality impact opportunities more accessible to retail investors.

Thomas explains that true impact investing differs from simply buying shares in companies with positive environmental or social credentials. Impact investments are intentionally designed to address a specific problem, measure the outcomes achieved and provide capital directly to projects that generate positive change. This can include renewable energy, affordable housing, environmental restoration and social impact initiatives.

Alongside capital allocation, Thomas argues investors should not underestimate the power of shareholder engagement. Over the past decade, shareholder activism and engagement campaigns have helped drive change across issues including climate disclosure, gambling, plastic waste, deforestation and biodiversity protection. Investors increasingly have two powerful tools available: where they invest their money and how they use their voice as shareholders.

🌟 Impact investing is becoming more institutional and mainstream

The first generation of impact investments was often innovative but relatively small in scale. Today, institutional fund managers are launching larger, more diversified impact funds with the potential to deliver market-like returns while creating measurable environmental and social outcomes.

🌟 True impact investing goes beyond buying ethical shares

Thomas distinguishes impact investing from traditional share investing. When investors purchase listed shares, the money typically goes to another shareholder. Impact investments, by contrast, direct capital towards creating new projects, assets and solutions that address social or environmental challenges.

🌟 Renewable energy and environmental infrastructure remain major themes

Some of the most prominent opportunities today include renewable energy infrastructure, battery storage, environmental water projects and decarbonisation initiatives. These investments are attracting increasing interest as governments, institutions and investors seek practical solutions to sustainability challenges.

🌟 Democratising impact investing remains a key goal

One of the biggest challenges facing the sector is accessibility. Many of the highest-quality impact funds remain restricted to wholesale investors. Thomas says efforts are underway to create investment vehicles that combine leading impact funds into structures that retail investors can access more easily.

🌟 Superannuation funds could play a larger role

Large super funds are increasingly allocating capital towards impact investments and are becoming more active participants in addressing challenges such as climate transition, clean technology development and affordable housing at scale.

🌟 Shareholder activism can drive meaningful change

Investor engagement has played a significant role in influencing corporate behaviour. Thomas highlights campaigns involving climate change, banking policies, biodiversity protection, plastic reduction and gambling exposure, demonstrating that investors can create change even when shareholder resolutions do not ultimately succeed.

🌟 Success is not always measured by winning the vote

Some engagement campaigns fail to achieve immediate outcomes but still generate important progress. Thomas points to climate-related shareholder advocacy that led companies to improve transparency and disclose previously unavailable information, helping investors better understand risks and corporate strategies.

🚩 Retail investors still face access barriers

Many impact investments involve long investment horizons of seven to ten years. These illiquid structures can be difficult for retail investors to access, creating a gap between investor demand and available products.

🚩 Patience is often required

Unlike publicly traded shares, many impact investments require investors to commit capital for extended periods before outcomes and returns are realised. This remains one of the sector's biggest structural challenges.

⚠️ Not every impact investment succeeds

While many impact investments have generated positive outcomes and competitive returns, others have faced challenges. Some projects were disrupted by external events such as COVID-19, highlighting the importance of diversification and careful manager selection.

⚠️ Impact measurement remains critical

As the sector grows, investors need confidence that managers are measuring and reporting outcomes consistently. Intentionality, measurable impact and additionality remain key characteristics that distinguish genuine impact investments from broader sustainability strategies.

🌟 Investors no longer need to sacrifice returns

Thomas believes one of the industry's biggest misconceptions is that ethical and impact investing inevitably leads to weaker financial performance. In most asset classes, investors can now access strategies that seek both commercial returns and measurable impact outcomes.

💡 Why it matters:

Impact investing is moving beyond its early experimental phase and becoming a more established part of the investment landscape. As institutional managers bring larger, more sophisticated products to market, access is gradually expanding and the opportunity set is widening. At the same time, investors are increasingly recognising that creating impact is not just about where money is invested, but also how shareholder rights are exercised. Understanding both capital allocation and engagement strategies may become increasingly important as investors seek to balance financial outcomes with positive environmental and social change.

🎙️ Sources:

Trevor Thomas, managing director, Ethinvest

Michelle Baltazar, host, The Greener Way

⏱️ Timestamps:

00:00 - Why impact investing needs to be democratised

00:17 - The evolution of impact investing

01:33 - What makes an investment a true impact investment

03:02 - Standout impact funds and recent opportunities

04:02 - The challenge of retail investor access

05:00 - Wholesale versus retail impact investing

06:38 - The role of super funds in driving impact

07:23 - Shareholder activism and investor influence

08:41 - Using shareholder resolutions to create change

10:07 - Lessons from climate engagement campaigns

11:00 - Biodiversity and salmon farming advocacy

11:49 - Impact investment performance and outcomes

12:37 - Why scale matters in impact investing

13:29 - The myth that impact investing underperforms

14:08 - Final thoughts and key takeaways

🌿 We record on Gadigal Land and pay our respects to the traditional custodians of country and elders past and present.

The Launchpad program will provide grants to Australian companies, developing technologies aligned with ARENA's mandate, while also funding organisations that support early-stage renewable energy and climate businesses.

ARENA chief executive Darren Miller said program was designed to address a funding gap that can prevent promising technologies from progressing beyond the early stages of development.

"Australia has no shortage of talented founders and ambitious ideas, but early-stage funding can be difficult to secure for technologies that take time and capital to develop, particularly for energy and climate startups," Miller said.

"Launchpad is an ARENA program designed primarily for early-stage startups. We have heard from startups that they need a simpler and faster pathway to smaller amounts of funding that will help them reach their next technical or commercial milestone."

The program will be split evenly between startup and ecosystem funding, with $15 million allocated to each system.

The startup stream will target primarily pre-seed and seed-stage companies, with successful applicants receiving $500,000 and up a further $500,000 available for projects requiring higher capital expenditure (up to $1 million per grant).

ARENA expects the competitive funding round to support between 15 and 30 companies, with applicants required to demonstrate alignment with its strategic priorities.

The separate ecosystem stream will provide up to $5 million per grant through an open, non-competitive funding round for Australian accelerators and other organisations running multi-year programs supporting businesses aligned with ARENA's mandate.

Miller said supporting companies earlier in their development could help build a stronger pipeline of Australian clean energy technologies.

"By backing innovators early and strengthening the ecosystem around them, we can help more Australian renewable energy technologies move from a great idea to a real-world solution," he said.

Applicants for the startup stream close in late October 2026, while ecosystem funding will remain open until the available allocation is exhausted.

The regulator said entities are identifying and disclosing more information about climate-related risks and opportunities including unlisted companies, many of which have not disclosed climate-related financial information before.

ASIC commissioner Kate O'Rourke said the regulator's review of a sample of 40 sustainability reports identified marked progress in disclosure reporting compared to disclosures previously made voluntarily.

"It appears that statutory reporting has not only resulted in heightened transparency, but also more meaningful engagement by entities with climate-related risks and opportunities," O'Rourke said.

"We saw examples of entities adapting or updating existing governance and risk management processes."

ASIC identified opportunities for improvements in forward-looking disclosures and those underpinned by assumption or judgement, for example in aspects of strategy and metrics and targets disclosures.

The regulator laid out eight action items for reporting entities. It encouraged entities to explain how information in the sustainability report connects with relevant disclosures in the financial report and urged them to carefully consider whether they are also able to disclose quantitative information, rather than only qualitative information.

It also encouraged entities to consider past events, current conditions and forecast future conditions, as well as how they may be affected, and called on them to provide clear, effective and proximate disclosure of relevant judgements, assumptions and areas of measurement uncertainty.

"We expect improvements over time as more information becomes available and as entities gain more experience," O'Rourke said.

Treasury recently opened a consultation to enhance efficiency of climate disclosures by reducing the cost of compliance for companies.

The reforms are intended to achieve this while maintaining international alignment between Australian standards and its global counterpart, while minimising disruption for reporting entities.

"We are supportive of measures that reduce regulatory burden whilst preserving core sustainability reporting requirements and will continue to engage with Treasury on these proposed reforms," O'Rourke said.

McGregor brings experience financing the Australian resources sector to the role, which will focus on investments that support industrial decarbonisations while strengthening the competitiveness of Australian businesses.

She said the opportunity to help turn decarbonisations plans into projects was a key attraction of the role.

"I'm really excited about the opportunity to help turn decarbonisation plans into real projects," McGregor said.

"The challenge isn't a lack of ambition. It's often a lack of capital, confidence, or the right commercial conditions to get projects moving."

McGregor said her experience in resources had reinforced the importance of looking beyond funding when assessing projects, with execution, infrastructure and commercial considerations also critical.

"Capital is only one piece of the puzzle," she said.

She said partnerships between industry, investors and government would also be important as Australia works to reduce emissions across some of its most emissions- intensive industries.

The Net Zero Fund is designed to support commercially viable projects that could face barriers including high upfront costs, technology risk, long payback periods and global competitive pressures.

McGregor said the fund's objective was not to replace private capital, but only to help unlock investment where NRFC involvement could make a difference.

"We still need to see strong management teams, sound project economics, and a clear rationale for why our involvement is needed," she said.

The fund will have specific focus on industrial decarbonisation, including emissions reduction, energy efficiency and technologies intended to help Australian industry compete in a lower carbon economy.

McGregor said the fund also had a broader objective to support new technologies, supply chains and sovereign capabilities.

"My goal is for the fund to make a genuine difference, not only in reducing emissions, but also in strengthening Australian industry and helping build the industries that will underpin our future economy," she said.

For businesses seeking investment, McGregor said applications should clearly outline the problem being addressed, the expected emissions or energy-efficiency impact and why NRFC involvement was required.

"The strongest applications are usually the ones that are honest about both the opportunities and the risks and can clearly explain why the project deserves support," she said.

The firm said the transaction attracted strong demand from super funds and international institutional investors, reflecting confidence in Kinetic's future growth. It forms part of a continuation structure through which Foresight will remain a significant shareholder in Kinetic.

Foresight investment director Adrian Kong said Kinetic is a key member for the energy transition.

"Kinetic is a key enabler in the shift to zero-emission public transport, combining essential transport infrastructure at scale, and is well placed to help governments decarbonise their networks," Kong said.

"We are looking forward to investing in Kinetic's next phase of growth"

The transaction does not change Kinetic's shareholding structure, with Foresight retaining its 30% interest, alongside TPG Rise Climate, it said.

Foresight's investment in Kinetic began in 2020 and has supported the business' continued expansion, which saw Kinetic growing from Australia to other parts of the world, including New Zealand, Europe, the UK and Asia.

Kinetic currently has more than 300 contracts globally and the business is observing a rising public transport demand, which is fuelling its continued expansion, including recent growth in Victoria, Singapore and major rail operations in London and Stockholm.

Foresight head of Australia Edward Lloyd said Australia remains an important market for its infrastructure investment strategy.

"The strong level of demand reflects the quality of Kinetic, the resilience of its underlying business and the opportunities we continue to see for further growth," Lloyd said.

"Australia is an important market for Foresight, and the level of investor commitment reflects continued confidence in the opportunities we are bringing to market. There is a significant need for new energy and infrastructure investment, and institutional capital will be central to funding it.

"We continue to see a broad range of opportunities across renewable energy, energy storage and essential infrastructure."

Foresight manages around $5 billion of assets in Australia.

The Baranduda Electrical Energy Reserve will have 1.86 gigawatt-hours (GWh) of storage capacity and comprise four independents 100MW/465 MWh battery units, each with a separate grid connection.

Located next to the Wodonga Terminal Station and on the Victoria-NSW 330kV interconnector, the standalone battery is expected to begin operations in late 2028.

Once operational, Baranduda will be capable of storing enough electricity to power more than 200,000 Victorian homes through the evening peak, charging when renewable generation is abundant and discharging when additional supply is required.

Construction is expected to begin in November, creating around 150 jobs, with ongoing operational roles to follow. The project will also establish an annual community benefit fund for Wodonga.

The state-owned SEC is investing up to $43 million for a minority stake and has agreed to a 15-year offtake agreement covering 50% of the battery's output, supporting the Victorian government and commercial energy retail contracts.

The remaining 50% will be available on a merchant basis to the broader Victorian energy market.

Aware Super head of private markets Jenny Newmarch said the project was a strong fit with the fund's growing energy storage portfolio.

"Baranduda is an important investment for our 1.3 million members and a strong fit with our growing energy-storage portfolio," Newmarch said.

"Long-duration storage is critical to the energy transition, and this project reflects our confidence in its role in supporting a more reliable and renewable energy system."

SEC chief executive Chris Miller said the project's location would strengthen Victoria's energy security during periods of high demand, network congestion and unexpected outages.

Baranduda forms part of the Birdwood Energy Storage and Transition platform, a joint venture between Aware Super and Birdwood.

Aware Super first partnered with Birdwood in 2023, making a direct investment in the Birdwood Distribution Energy Platform as part of its strategy to diversify its renewable energy exposure.

At the time, the fund said the partnership would support the development of distributed renewable energy and battery storage projects across Australia, complementing its more than $2 billion of existing investment in utility-scale wind and solar generation and other climate solutions.

Michael Cistulli is returning to Sydney to join Future Fund as a senior associate of responsible investment following a two-year stint at Legal & General as responsible investment analyst in London.

At Legal & General, Cistulli had a focus on private credit, including corporate credit, infrastructure debt, real estate debt and alternative assets. He sat within its responsible investment and sustainability team.

Before that, Cistulli was a fixed income analyst at Challenger for more than two years, and brings relevant experience from Plenti, Elkiem, and J.P. Morgan earlier in his career.

Separately, Future2 Foundation has welcomed Fiona Caheny as a director to its board, joining fellow directors Julie Berry, Dave Slovinec, Benjamin Marshan, Olivia O'Neill, Giles Gunesekera and Steve Thomson.

Caheny brings extensive experience across treasury, finance, banking and payments, with expertise in financial risk, governance and transformation.

As a Future2 director, Caheny will help drive financial literacy and inclusion to help Australians to build greater financial independence and stronger financial futures.

"We're excited to welcome Fiona to the Future2 community and look forward to the contribution she will make," Future2 Foundation said.

Meanwhile, Tony Chappel has commenced as chief executive and chair at the CER.

He joined from the New South Wales Environment Protection Authority (NSW EPA), where he served as chief executive since 2022. He has also served in senior roles at the Australian Market Operator, AGL Energy, BBY, and Macquarie Group.

Collectively, these experiences provide Chappel with a deep understanding of many sectors, stakeholders and policy issues that are central to the CER's work, CER said.

Minister for climate change and energy Chris Bowen welcomed Chappel's appointment.

"Chappel's appointment comes at a pivotal time, with the Clean Energy Regulator's work central to Australia's energy transformation and progress towards net zero," Bowen said.

"He brings extensive experience leading statutory regulatory organisations, with a proven track record in governance, compliance and enforcement across complex operating environments including as chief executive of the NSW EPA.

"The CER plays a critical role in delivering Australia's clean energy transition, and Chappel's expertise and leadership will help ensure it continues to deliver Australia's key climate and renewable energy programs with integrity."

Chappel replaces David Parker, who has retired after a 40 plus-year career in public service, including nine years as chief executive and chair of the CER.

Bowen thanked Parker for his contributions.

"I also thank Parker for his leadership in administering key climate and energy programs, including the Cheaper Home Batteries program and reforms to the Safeguard Mechanism and Australian Carbon Credit Unit Scheme," Bowen added.

"Over nearly a decade of service, Parker has overseen one of the most significant periods of reform in Australia's climate policy, and I thank him for his dedication and public service."

Conducted among 191 asset managers, asset owners and advisers across different regions and asset classes, the survey looks at changes in ESG sentiment, commitments, terminology, resources, exclusions and investment priorities.

Overall, the survey found ESG backlash has affected language and positioning more visibly than the underlying investment processes.

"Rather than a broad retreat, the survey points to a more pragmatic phase of ESG integration, with greater emphasis on materiality, risk management, data quality, client expectations and long-term value creation," the report read.

Around two thirds of respondents said market sentiment around ESG in their primary region has become more negative over the past 24 months. The shift is most pronounced in the US and is also clearly visible in Europe.

However, 92% of respondents maintained or increased their ESG commitments over the past 24 months, while only 8% reduced them.

"Importantly, even among respondents who perceive market sentiment as more negative, the large majority maintained or increased their ESG commitments," the report said.

"The same pattern is visible in investment decision-making. For most respondents, the importance of ESG has remained stable over the past 24 months, with only a small minority saying it has become less important. Looking ahead, respondents overwhelmingly expect this stability to continue over the next 12 months."

While the US saw a change in ESG communications, only 18% of Asia-Pacific respondents reported changing their ESG terminology, the lowest share across the regions surveyed, while 27% increased their ESG commitments.

"The smaller Asia-Pacific sample means that these findings should be interpreted directionally. They nevertheless point to a less polarised pattern than in the US or Europe. The survey does not establish the reason for this development," the report read.

"One possible explanation is that in some parts of Asia Pacific, ESG frameworks are still being developed and embedded in investment practices, rather than being recalibrated in response to political pressures seen elsewhere."

The survey found across most categories, exclusions have been applied with the same rigour as before or have become stricter, with defence-related investments being the clear exception.

"In total, 23% of respondents say they are now less strict on defence-related investments, in contrast to only 3% who have become stricter on defence-related investments," the report read.

"This easing is largely attributable to European respondents, with 33% reporting that they are being less strict than before. For other topics, 9% of respondents are now stricter on oil and gas, 8% on fossil fuels and 11% on thermal coal."

Global wealth intelligence provider Altrata found Australia dominates the Pacific region when it comes to the billionaire population.

In the last year, Australia's billionaire population rose modestly to 51 individuals, on the back of global demand for mineral commodities and financial and business services, the report found. However, wealth gains were constrained by subdued export trends to China and real estate pressures that dampened equity-market returns.

Asia, the third-largest billionaire region, recorded a 6.5% rise in its billionaire population to 881 individuals.

The increase in wealth was driven by the positive spillover effects of the wider artificial investment (AI) investment boom, supportive fiscal and governance reforms, and global investor diversification underpinned strong returns in many of the region's equity markets.

South Korea's tech-heavy KOSPI index was the top global performer, with robust gains also in Taiwan, Japan, and Hong Kong, the report read. In contrast, returns in the fast-growing billionaire market of India were relatively muted for a second consecutive year.

New York continues to be the global billionaire capital with an 8% rise in billionaire numbers to 164.

New Yorke billionaires' wealth trends were tied to the AI investment boom also - a major driver of activity across the city's extensive private capital markets, family offices and ultra-prime real estate.

Hong Kong sits in second place with 106 billionaires, followed by San Francisco with 99 and London with 79.

Overall, Altrata estimates that nearly 5000 spouses and adult children will inherit a sizeable share of the US$6.6 trillion of billionaire wealth that will be passed on over the next decade, with women tipped to receive a significant share.

This will include more than 1235 female spouses. The current average age of expected adult child heirs is 48 while the spouses are 66.

Some 23% of expected adult child heirs already work alongside their billionaire parent in the primary family business.

In their submissions to the ASX's Draft 5th Edition Consultation Paper, Chief Executive Women (CEW) and the Australian Council of Superannuation Investors (ACSI) have separately backed the measurable objective, which would require at least 40% women, at least 40% men and allow up to 20% of any gender.

The paper recommends maintaining the 30% female director representation for boards of ASX300 in updating the principles.

"Additional numerical targets for other diversity characteristics or disclosure of these characteristics for individual directors are not proposed. This provides entities with flexibility to determine how best to achieve diversity of thought, experience and perspectives in their boards," the paper read.

CEW chief executive Lisa Annese said: "The role of the ASX principles and recommendations is to encourage best-practice governance across Australia's largest listed companies. On board gender balance, that best practice is now 40:40:20."

"Setting a benchmark below what many companies have already achieved does the opposite. It gives the market no direction for future appointments and signals that a step back would be permissible."

ACSI chief executive Louise Davidson said the proposal to retain the measurable objective that boards have at least 30% female directors is "concerning."

ACIS believes entities can and should be capable of setting a measurable objective for gender balance on boards, such as the 40:40:20 objective, while also taking other aspects of diversity into account in board composition and succession planning.

She urged the ASX to adopt a framework that encourages companies to build on progress rather than retain a benchmark that much of the market has surpassed.

"Gender balance and broader diversity are not competing objectives. Effective boards draw on a range of skills, backgrounds, experiences and perspectives to support decision making and long-term value creation," Davidson said.

CEW said its research shows that a 10% increase in women's representation on an ASX board was associated with a 4.9% increase in market value.

Annese also rejected suggestions that greater gender balance would come at the expense of other forms of diversity, saying boards could pursue both.

"Women are not a homogeneous group," she said, pointing to the importance of culturally and racially diverse women, First Nations women, women with disabilities and those with varied professional backgrounds.

ACSI also urged the ASX to retain specific timeframes when assessing director independence, warning that removing the 10-year reference could reduce transparency.

The ASX is expected to finalise the fifth edition of the principles by the end of 2026.

🌡️ Super El Niño, AI and water scarcity: The investment trends that could reshape the ASX

❓ Question:

How could a potential Super El Niño, rising temperatures and the rapid expansion of AI data centres create new investment opportunities and risks for investors over the coming decade?

✅ Answer:

According to Claudia Kwan, managing partner and portfolio manager at North Star, investors are entering an unprecedented period where climate change, extreme weather patterns and AI-driven infrastructure demand are colliding. A potential Super El Niño could affect water availability, energy demand, supply chains, commodity prices and capital allocation decisions across the economy. Kwan believes investors who understand these interconnected trends will be better positioned to identify the next generation of winners, while those relying solely on traditional investment metrics may miss significant opportunities.

🌟 Investors are facing a climate event without historical precedent

While Super El Niño events have occurred before, Kwan notes that they have never occurred alongside today's backdrop of rising global temperatures and accelerating climate change. This makes forecasting more difficult and increases uncertainty for investors.

🌟 AI data centres are becoming a major economic force

The surge in AI adoption is driving unprecedented demand for data centres, placing increasing pressure on energy systems, infrastructure and water resources. This is creating new investment themes that extend well beyond the technology sector.

🌟 Water may become one of the most valuable investment themes

Kwan argues that water remains overlooked compared with energy and electrification. Changing rainfall patterns, droughts and flooding could create both risks and opportunities across industries, making water-related infrastructure and solutions increasingly important.

🌟 Supply chain disruptions are becoming more frequent

Extreme weather events such as cyclones are already affecting manufacturing and logistics networks. Investors can no longer view climate disruptions as isolated events because their impacts are spreading across global supply chains.

🌟 Climate adaptation is creating new commercial opportunities

As businesses adapt to changing environmental conditions, demand is increasing for technologies and services that improve efficiency, resilience and resource management. Companies providing these solutions may benefit from long-term structural growth.

🌟 Rising commodity prices are helping circular economy businesses

Higher resource prices are improving the economics of recycling, reprocessing and waste recovery. Activities that were previously uneconomic are becoming commercially viable as demand for critical materials increases.

🌟 Investors may need to rethink how they value growth companies

Traditional measures such as earnings, free cash flow and balance sheet strength remain important, but Kwan believes investors should also evaluate market size, adoption potential and unit economics when analysing emerging industries.

🌟 The next decade could create entirely new market leaders

Kwan expects many future ASX success stories to come from sectors linked to electrification, climate adaptation, digital infrastructure and resource efficiency. She believes the composition of the ASX 200 could look very different by 2035.

🚩 Funding the transition remains a major challenge

The enormous investment required for energy infrastructure, data centres and climate adaptation will require substantial capital. Investors need to pay close attention to funding sources and the cost of capital.

🚩 Volatility is likely to increase

More extreme weather events and shifting climate patterns may result in greater uncertainty across financial markets, creating both opportunities and downside risks.

🚩 Climate risks now affect almost every sector

From supply chains and insurance costs to resource availability and consumer spending, climate-related impacts are becoming embedded across the broader economy rather than affecting individual industries.

⚠️ Black swan events may become more common

Kwan warns that investors should prepare for unexpected climate-related and capital-market shocks. Events previously considered rare could occur more frequently in a world shaped by climate change and rapid technological transformation.

⚠️ Investors who ignore emerging data could fall behind

As climate, weather and infrastructure data become increasingly important drivers of performance, investors who fail to monitor these developments risk mispricing opportunities and threats.

💡 Why it matters:

Climate change is no longer simply an environmental issue. It is becoming a powerful investment driver that influences energy demand, water resources, supply chains, capital flows and market valuations. Kwan's research suggests that understanding the interaction between Super El Niño, AI infrastructure growth and climate adaptation could help investors identify future winners while better managing long-term portfolio risks.

🎙️ Sources:

Claudia Kwan, managing partner and portfolio manager, North Star

Michelle Baltazar, host, The Greener Way

⏱️ Timestamps:

00:00 - How Super El Niño could reshape investment markets

00:45 - Introducing North Star and impact investing

01:44 - What defines a Super El Niño?

02:34 - Why investors should pay attention now

04:04 - Climate adaptation and investment opportunities

05:05 - Why water is an overlooked investment theme

05:45 - AI infrastructure and supply chain impacts

06:46 - Commodity prices and circular economy opportunities

07:26 - Rethinking traditional investment metrics

08:55 - Evaluating growth opportunities in emerging industries

09:52 - M&A activity and industry consolidation

11:40 - Claudia's prediction for the ASX in 2035

12:04 - Funding challenges and key investment risks

13:37 - Black swan risks and increasing volatility

14:55 - Final investor takeaways

🌿 We record on Gadigal Land and pay our respects to the traditional custodians of Country and elders past and present.

National farm confidence rose to a net -19% in the third quarter, up from -48% in the prior quarter. The proportion of farmers expecting conditions to worsen fell to 32% from 58%, while those expecting conditions to remain unchanged increased to 52%.

Commodity price expectations were the leading source of optimism, cited by 48% of farmers, followed by favourable seasonal conditions at 29%.

Rabobank group executive for country banking Australia Marcel van Doremaele said sentiment had steadied despite ongoing geopolitical tensions and supply chain risks.

"Although input costs continue to be the dominant factor weighing on confidence this quarter, and cost pressures remain elevated, farming businesses have experienced the initial price shocks," van Doremaele said.

"Despite ongoing tensions in the Strait of Hormuz and Black Sea, sentiment has been steadied by recovery of key supply chains and stronger commodity signals,'' he said.

Input costs remained the biggest concern, although the proportion of farmers citing them fell to 54% from 60%. Concern about energy security also eased to 14% from 25%.

Seasonal conditions were another source of improvement, with a quarter of farmers nominating negative conditions as a concern, down from one third last quarter.

However, government intervention and policy emerged as a growing concern, cited by 38% of farmers, up from 23%.

Improved sentiment also translated into stronger investment intentions. Some 28% of farmers plan to increase spending over the next 12 months, up from 21%, while those expecting to reduce investment fell to 12%.

"Investment intentions have also strengthened across technology and machinery, reflecting Australian farmers' willingness to embrace opportunities to innovate, improve efficiencies and grow the productivity and profitability of their businesses," van Doremaele said.

South Australia recorded the strongest recovery, with confidence moving into positive territory at net 8%, while Queensland remained the least confident at -37%.

The survey canvassed about 700 primary producers across Australia in August.

The firm has acquired the Monogorilby Renewable Energy Park (MREP) from LP Renewable Projects (LPRP).

The second is the Winton Renewable Energy Storage and Stability Terminal (WRESST) from Celero Infrastructure.

Both projects are in development stage.

MREP is being developed as an integrated renewable energy facility comprising up to 600 megawatts (MW) of wind generation and a co-located 400-megawatt alternate current (MWac)/1600-megawatt hour (MWh) battery energy storage system (BESS).

Located approximately 250km northwest of Brisbane, the project was originated by LP Renewable Projects, which commenced initial feasibility assessments in late 2022.

Meanwhile, WRESST is a 400MWac/1600MWh BESS development project located about 10km northeast of Benalla in Victoria, adjacent to the Glenrowan Terminal Station. The project lodged its development application in June.

The acquisitions follow the recruitment of Intera's growth and development team from Squadron Energy, where the team led the core development function for establishing a 10 gigawatts (GW) project pipeline, progressing more than 1.2GW of renewable energy projects from development into delivery.

Intera is the principal investment of Palisade's Renewable Energy Fund, which holds 50% interest in the platform alongside Palisade's Diversified Infrastructure Fund (PDIF), Aware Super and HESTA.

Palisade partner Simon Parbery said the acquisitions place Intera in a good position for further growth.

"We are pleased to announce the acquisition of the first two large-scale wind and storage development assets secured through Intera's recently established growth and development team," Parbery said.

"These projects represent an important step in Intera's growth strategy, and we look forward to working with LPRP and Celero to progress them for the benefit of our investors, host communities and Australia's broader energy transition."

Intera head of growth and development Edward Mounsey noted both Palisade and Intera's capabilities provide a compelling proposition for development partners seeking to unlock value from their projects.

"Palisade and its development partners are committed to responsible development and to working closely with host communities to maximise the long-term benefits and opportunities these projects can deliver," Mounsey said.

Both LP Renewable Projects and Celero Infrastructure will continue to provide development services for their respective projects through to financial close. Palisade Integrated Management Services will undertake asset management activities once completed.

The team will focus on originating, evaluating and supporting investments for the MET platform, while deepening relationships with local investors, developers and industry stakeholders, the firm said.

The Sydney-based team will initially consist of an investment manager and an investment analyst, led by investment director Kim Nguyen, who joined from the state government.

Nguyen brings more than two decades of experience across infrastructure, energy and private markets, most recently serving as executive director of investments at the NSW Government's Energy Security Corporation and previously leading Foresight Group's Australian business for more than seven years.

Earlier in her career, she worked at Macquarie Group and Origin Energy before transitioning into senior roles at Hastings Funds Management and Waterwood Consulting.

Natixis IM said the move strengthens investment capabilities in Australia and reflects the growing importance of the market to MET strategies, as the nation continues to provide "geographic diversification" and a risk-return profile aligned with European markets.

With more than $700 million (€450m) already allocated across Australia and New Zealand, through investments, including TagEnergy, JET Charge and Yanara Australia, the establishment of the Sydney-based team reflects Mirova's growing commitment to the region. It also follows Mirova's ongoing expansion in the Asia Pacific with a Singapore hub.

Natixis IM managing director and head of Australia and New Zealand Danny King said Australia has become a key destination for Mirova's energy transition investments, supported by a growing pipeline of a range of renewable and infrastructure initiatives.

"Demand from Australian and New Zealand investors for European energy transition infrastructure opportunities continues to grow. Establishing this investment team in Sydney will allow us to work even more closely with the MET team in Paris while bringing that expertise closer to our local client base," King said.

"As clients look to deploy more capital in Europe, this local capability will strengthen our ability to connect them directly with Mirova's investment expertise, origination capabilities, and opportunity set across the region.

"It also reflects our long-term confidence in the Australian market and our commitment to expanding Natixis Investment Managers' capabilities across the region."

Meanwhile, Mirova deputy general manager and global head of private assets Raphaël Lance said: "Australia has become a strategic market for Mirova's private assets platform and one of the most dynamic regions globally for energy transition investment. We have already built meaningful experience and strong local relationships through our investments across the region."

"A dedicated presence in Sydney is a natural next step that will strengthen our origination capabilities, deepen our engagement with market participants and support the continued growth of our energy transition infrastructure activities across Australia and the broader Asia Pacific region."

The firm welcomed a new chief executive in July following the departure of its founder Philippe Zaouati, who has held the top job since January 2014.

The mandate will be managed by Brookfield's Investment Solutions Group (ISG) and will invest globally across infrastructure, energy, private equity, real estate and private credit strategies. The portfolio is expected to combine fund commitments, direct investments and co-investments.

Brookfield is set to help the Nuclear Liabilities Fund achieve the required returns to cover the future costs of nuclear decommissioning in the UK.

The partnership has been structured around the long-term liabilities disciplined capital allocation, with investment proceeds expected to be reinvested rather than routinely distributed, Brookfield said, adding the approach is intended to keep capital invested across market cycles and support long-term compounding.

Alper Daglioglu, head of Brookfield's ISG , said the fund's unusually long investment horizon created an opportunity to take a different approach to portfolio construction.

"NLF has an exceptionally long investment horizon, and that creates an opportunity to invest differently," Daglioglu said.

"Our partnership is built on a shared belief in long-term thinking, disciplined capital allocation and the power of compounding over decades."

NLF chief executive Melissa Hope said Brookfield was selected following a competitive process, citing its global investment capabilities and experience across market cycles.

"Brookfield stood out for its depth of global investment capability, long-term perspective and disciplined approach to portfolio construction and governance," Hope said.

"This partnership is designed to support our obligations over a multi-decade horizon."

The NLF was established in 1996 as an independent ring-fenced fund to meet the costs of decommissioning eight nuclear power stations. Around £3 billion in decommissioning costs have been paid to date.

The decommissioning program is expected to continue into the next century, with the fund investing its assets to generate the returns required to meet future obligations and reduce reliance on taxpayers.

Brookfield's mandate reflects the fund's long-term funding requirements, with the portfolio able to evolve as investment opportunities and the NLF's needs change over time.

The IPCC has named Annett Möhner as the upcoming secretary of the IPCC, effective November 1.

Möhner is currently a senior manager at the UN Framework Convention on Climate Change (UNFCCC) and will bring over two decades of experience in global climate action, sustainable development and multilateral diplomacy when she commences in her new role.

She has been managing the first-ever global stocktake under the Paris Agreement at the UNFCCC since early 2023 and served as secretary to the UNFCCC's governing bodies and the adaptation committee before that.

She also led engagement with the IPCC, the global research community and development finance stakeholders to enable well-informed, evidence-based policymaking.

Australia is one of the 195 members in the panel and communicates via the Department of Climate Change, Energy, the Environment and Water.

IPCC chair Jim Skea welcomed the appointment.

"I am delighted to extend our warmest welcome to Möhner as the new secretary of the IPCC," Skea said.

"Her professional expertise, strategic vision, and extensive experience in multilateral climate fora will strengthen IPCC's leadership and reinforce its capacity to deliver rigorous, policy-relevant climate science."

Möhner said: "I am deeply honoured to take on the role of secretary of the IPCC and to build on the IPCC's remarkable legacy."

"I will help ensure that its assessments continue to provide a trusted scientific foundation for climate decision-making around the world while ensuring that the organisation remains effective, inclusive and responsive to the needs of its member governments."

Meanwhile, Oskar Mitchell has joined Rabobank as a commodity analyst.

Based in Sydney, Mitchell has joined the RaboResearch division, where he is responsible for providing industry insights and market updates on farm inputs, cotton, wool and farmland values.

Mitchell worked as an analyst within the market intelligence team for Australian Wool Innovation, providing research and reporting on the wool industry, as well as the grains sector.

RaboResearch general manager Stefan Vogel said Mitchell's strong knowledge of, and experience in, agriculture, across a range of sectors, made him an ideal fit.

"Oskar's experience across a range of agricultural commodities, combined with his strong analytical skills and personal connection to farming, make him well placed to provide valuable support for the bank's food and agri clients," Vogel said.

"In particular, his expertise in interpreting complex global market information and turning it into practical insights for local producers will be highly valuable."

Mitchell said he looks forward to helping producers and agribusiness operators to make informed decisions.

Separately, First Sentier Group has promoted Sarah Robson to responsible investment manager.

Robson joined the firm in May 2025 as senior responsible investment analyst and was the manager of responsible investment and impact at LVP, a sustainability-led, multi strategy alternative asset manager, before that.

She began her career at Deloitte, where she held various environmental, sustainability, and governance (ESG) roles, including associate director in ESG and M&A and senior analyst for sustainability and climate change.

The superannuation fund is among institutional investors and networks representing approximately US$6.3 trillion in assets under management calling for the regulation to be fully implemented from December 2026, without reopening or renegotiating the legislation.

The investors said deforestation represented a systemic financial risk, with exposure creating physical, regulatory, operational and reputational risks for companies and their investors.

The letter to the European Commission said these risks were increasingly evident across agricultural landscapes through prolonged droughts, changing rainfall patterns, soil degradation and declining ecosystem resilience, threatening global commodity supply chains.

Future Group and other signatories backed the EUDR as a framework for establishing a harmonised baseline for due diligence and supply chain traceability, while acknowledging concerns around implementation costs and readiness in producing countries.

The investors argued those challenges should be addressed through practical guidance, technical assistance and capacity building rather than changes to the regulation.

"Reopening or delaying the regulation would create further risks and uncertainty for businesses and investors, undermine the level playing field the regulation is intended to establish and damage EU's reputation for stable, predictable and rules-based policymaking," the letter said.

The group also urged the commission to provide consistent interpretation and application across European Union member states to prevent regulatory fragmentation and unnecessary costs for businesses operating across jurisdictions.

The investors welcomed the commission's decision to address changes to the regulation's product scope through a delegated act rather than reopening the legislative process, buy called for the final act to be published as soon as possible.

They warned that narrowing the scope, including the proposed exclusion of leather, could weaken the effectiveness of the framework and make it harder for investors to assess deforestation exposure across global supply chains.

The investors said clear guidance and predictable implementation would help companies invest in traceability and responsible sourcing while giving long-term investors greater confidence in capital allocation decisions.

Under the new rules, the ACNC will need to explain why it decides to cancel a charity's registration.

"If the ACNC takes enforcement action against a charity, it must give the reasons for the action," Treasury said.

"Some ACNC investigations do not lead to enforcement action. The government will now allow the ACNC to release information about these investigations when it is in the public interest. The ACNC will apply a public interest test before it discloses this information."

The regulations require the ACNC commissioner to publish on the register a summary of a decision to revoke the registration of an entity as well as any response from the entity. There are no conditions attached to publishing summaries of revocations.

The regulations also require the commissioner to publish summaries about certain recognised assessment activities into an entity undertaken by the commissioner.

"The summaries cover why the recognised assessment activity was undertaken and what the outcome was. The commissioner must also publish a summary of the resolution of any matters relating to the recognised assessment activity and a summary of any response from the entity," Treasury said.

These regulations form part of the government's 2023-24 Budget measure to increase transparency in ACNC activities.

"Australians are generous donors and they need confidence that charities are operating with integrity," Australian Philanthropic Services (APS) technical director David Ward said.

"ACNC endorsement and information are central to this. We support sensible measures that strengthen transparency and trust in the sector, provided they are accompanied by appropriate safeguards to protect charities from unwarranted reputational damage and ensure procedural fairness."

Treasury is taking submissions until October 2.

The foundation will match capital invested through PRF's $60 million Impact First Fund.

The partnership will target charities and community organisations delivering social and environmental outcomes for Australian communities facing challenges arising from climate change.

It is also designed to attract additional funders and increase the pool of capital available for impact investments.

Atlassian Foundation director for operations Farzad Yazdanparast said the initiative could broaden both the scale and diversity of funders investing climate resilience.

"This partnership is a first of its kind in Australia, and it gives the Atlassian Foundation a way to support genuinely catalytic investments in climate resilience here at home," Yazdanparast said.

"We're really proud to be a founding partner and see enormous potential for this to scale and bring other funders in alongside us. We're hopeful this is the start of something big."

PRF director for investment and impact capital Ben Smith said the partnership was intended to help unlock capital for opportunities that can be difficult for conventional finance to support because they are early stage, complex, small or uncertain.

"Our aim is to support First Nations and community organisations operating at the intersection of climate and community and unlock more capital for their work," Smith said.

The allocation from PRF's Impact First Fund will form part of a dedicated investment portfolio focused on community and climate impact.

Smith said the partnership could also provide other funders with a pathway to develop their understanding and capability in impact investing.

"We hope that this provides a pathway for funders to explore the mechanisms of impact investing, enabling them to make informed choices about deploying impact investment and building their own impact investing capability," he said.

The initiative is modelled on the UK's Esmée Fairbairn Foundation Environmental Finance and Learning Fund.

The underlying Australian Ethical strategy has a 36-year track record and applies the fund's ethical charter across a multi-asset balanced portfolio.

The fund targets a return of CPI+4% real returns over the long-term.

Aii will help with impact sourcing, due diligence, measurement and reporting to the impact sleeve that is designed to deliver positive, measurable social and environmental outcomes.

Australian Ethical chief executive and managing director John McMurdo said trustees are increasingly recognising that it's not enough for investments to generate income for grants if the underlying capital may be contributing to the very challenges their organisation exists to address.

"Foundations and not-for-profits have told us they want to manage their capital responsibly, while upholding their fiduciary responsibility to preserve and grow capital over time," McMurdo said.

"This fund has been designed to bridge that gap, bringing together income, diversification and a clear focus on impact within a single, professionally managed portfolio. It's about giving organisations confidence their capital is working consistently with their purpose, without compromising on the financial outcomes they rely on."

The Reichstein Foundation, an Australian philanthropic foundation focused on social and environmental justice, is a cornerstone investor in the fund.

Reichstein Foundation chief executive Rachel Ball said the foundation is focused on ensuring its investment capital is aligned with its purpose.

"As purpose-driven investors, we look for investments that can deliver financial returns and measurable impact. The Balanced Income Fund provides foundations like ours with a practical way to do both, aligning investment capital with purpose, while maintaining the diversification and financial outcomes needed to support our long-term objectives," Ball said.

"We see this as an important development for the philanthropic sector as demand for values-aligned investment solutions continues to grow."

While developed specifically for foundations and not-for-profits stewarding perpetual capital, the fund also has broader relevance for wholesale investors seeking value-driven investments.

"Foundations and not-for-profits are increasingly looking to evolve how they invest their capital, but many don't want the complexity of building and managing a bespoke solution," Australian Ethical chief investment officer Ludovic Theau said.

"This fund provides an implementation-ready approach - bringing together diversification, income and a dedicated allocation to impact within a single portfolio, supported by clear governance and reporting."

🌿 Why investors may be overlooking one of the biggest risks in their portfolios

❓ Question: 

If the ocean underpins climate stability, food security, global trade and biodiversity, why has it remained largely absent from investment frameworks, and how can investors better account for ocean-related risks and opportunities in their portfolios?

✅ Answer: 

According to Sudip Hazra, director of the First Sentier MUFG Sustainable Investment Institute, the ocean is the world's largest natural asset class but remains one of the least understood by investors. Many investors already have significant exposure to ocean-related risks because industries across food production, tourism, shipping, infrastructure and consumer goods depend on healthy marine ecosystems. Hazra argues that oceans should be viewed as critical economic infrastructure rather than an environmental externality. By better understanding these dependencies, investors can improve risk management, identify new opportunities and support the transition to a more sustainable blue economy.

🌟 The ocean underpins far more of the economy than many investors realise

Hazra explains that ocean health influences a wide range of industries, even those not traditionally associated with marine assets. Every diversified investment portfolio is likely to contain companies that depend on oceans, waterways and marine ecosystems. Rather than sitting outside portfolios as an environmental concern, ocean-related risks and opportunities are already embedded within many existing investments.

🌟 Natural marine assets deliver significant economic value

The report highlights the Great Barrier Reef as an example of a natural asset that generates substantial economic activity. Beyond tourism, marine ecosystems such as coral reefs, mangroves and seagrass meadows provide coastal protection, support fisheries, store carbon and help sustain local economies. Hazra argues these assets should be recognised as economic infrastructure rather than simply environmental features.

🌟 Ocean exposure exists across unexpected sectors

Investors often assume ocean-related risks are confined to fisheries or shipping. However, Hazra points to examples such as pet food manufacturers whose supply chains depend on healthy marine biodiversity. As a result, companies in seemingly unrelated sectors are increasingly recognising the business value of maintaining healthy ocean ecosystems.

🌟 Better frameworks can improve investment decision-making

To help investors identify and manage ocean-related risks, the institute developed the Ocean Framework report. The framework is designed to help investors assess dependencies, evaluate risks, engage with portfolio companies and allocate capital more effectively. It includes engagement questions and sector-specific guidance for industries with significant ocean exposure.

🌟 Super funds can help close the blue finance funding gap

Hazra believes Australian super funds have an important role to play in accelerating investment into ocean-related solutions. This includes supporting investment-ready projects, improving data quality and engaging with companies on practical sustainability issues that affect marine ecosystems. Effective engagement can also influence policy outcomes and drive behavioural change across industries.

🌟 Ocean investing is closely linked to climate, biodiversity and food security

Rather than being a standalone sustainability theme, ocean health supports several of the most important long-term investment trends. Hazra argues that investors focused on climate resilience, biodiversity protection, food security and long-term value creation should also consider ocean-related risks because these challenges are deeply interconnected.

🚩 A lack of data continues to limit investment

One of the biggest barriers to ocean investing is the absence of consistent data and widely adopted frameworks. Investors often struggle to quantify ocean-related risks, resulting in underpricing of environmental impacts and underinvestment in solutions. Closing these data gaps is essential to improving capital allocation.

🚩 Governance remains fragmented

Unlike climate reporting, ocean-related regulation and disclosure frameworks remain relatively immature. Hundreds of overlapping policies and varying levels of enforcement can create uncertainty for investors seeking clarity around risks, standards and accountability.

⚠️ Ocean-related risks may emerge sooner than investors expect

Hazra cautions that ocean-related issues should not be viewed solely as long-term concerns. Marine pollution, biodiversity loss and water contamination can create immediate financial, operational and reputational risks for companies. These risks may affect supply chains, product availability and business profitability far sooner than many investors anticipate.

⚠️ Pollution and legal liabilities can become financially material

The interview highlights PFAS, or "forever chemicals", as an example of how poor environmental management can lead to significant litigation risks and financial impacts. Investors who fail to understand these exposures may underestimate potential liabilities within portfolios.

🌟 Looking ahead, oceans may become an increasingly important investment theme

Hazra believes investors are beginning to recognise that ocean health is fundamental to long-term economic resilience. As understanding improves and frameworks mature, investors may increasingly integrate ocean considerations into portfolio construction, stewardship activities and risk management processes. He argues that healthy oceans are not merely an environmental goal but a prerequisite for sustainable economic growth.

💡 Why it matters:

Ocean health supports critical economic systems including climate regulation, food production, global trade and biodiversity. Yet despite its importance, oceans remain underrepresented within traditional investment analysis. Hazra's research suggests investors may already be exposed to significant ocean-related risks without fully recognising them. As data improves and awareness grows, the ability to identify ocean dependencies and incorporate them into investment decisions could become an increasingly important part of managing risk, protecting long-term returns and supporting a more sustainable global economy.

🎙️ Sources:

Sudip Hazra, director, First Sentier MUFG Sustainable Investment Institute

Michelle Baltazar, host, The Greener Way

⏱️ Timestamps: 

00:00 - Why oceans should be viewed as economic infrastructure

01:15 - Introducing the Ocean Framework report

02:00 - Why investors already have ocean exposure

04:23 - Examples of ocean assets hidden in portfolios

05:28 - Coral reefs, biodiversity and business dependency

07:00 - Why oceans have been overlooked by investors

08:51 - Understanding the blue finance funding gap

10:17 - Climate change, oceans and investment implications

11:28 - How super funds can help close the funding gap

13:00 - Policy engagement and reducing marine pollution

14:37 - Responding to short-term investment concerns

15:21 - The financial risks of marine pollution

17:00 - Where investors should start integrating ocean risks

18:15 - The Ocean Framework and engagement toolkit

20:15 - Final messages for investors and super funds

🌿 We record on Gadigal Land and pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

RIAA's survey spoke with Australian-based individual financial adviser members and advisory groups to capture practical, client-facing insights into the sustainable investment product labelling regime.

RIAA membership and engagement manager Ethan Kusch noted the research found advisers play an important role in helping ascertain the right labelling regime as they see how real people understand sustainability concepts, how products align with those expectations, and how greenwashing manifests in practice.

"Financial advisers sit as an absolute key piece to that, connecting mum and dad investors, high net worth individuals, family offices with places to use capital," Kusch said.

Earlier in the year, Treasury opened a consultation on the labelling of sustainable financial products, with a particular focus on retail offerings. It covered the scope of the labelling system, disclosures, thresholds for labelling, and certain requirements.

The majority of advisers strongly supported restrictions on sustainability-related product labels, noting they would find it helpful for certain terms to be restricted or requiring criteria, particularly labels like "sustainable" and "impact", which advisers believe should require specific standards to use.

However, advisers emphasised while clarity and guardrails are essential, a labelling regime that is too restrictive could discourage product innovation and stressed that the system must be practical for consumers and advisers.

The main challenges advisers highlighted were lack of standardised definitions, poor disclosure practices, misleading product names, products not matching client preferences and insufficient reporting.

"Clearly, trust is an issue when it comes to being able to have confidence that a product that's being recommended is true to label," Kusch said.

He also highlighted advisers are approaching responsible investment differently, where some firms have built dedicated capabilities and frameworks, others are still working out where responsible investment fits into client conversations.

"You've got established firms that might have 50 or more advisers... You might be seeing those firms building out structured education in their responsible investment capability for their advisers," he said.

"It might be an individual adviser that's running their own practice [and] naturally advice is client-led, so where you've got the demand, you've probably got more impetus to go out and seek it yourself, rather than at a large firm who is seeing that demand more generally and choosing to educate their advisors that way."

The Perennial Better Future Trust, Perennial Better Future Active ETF (IMPQ) and Melior Australian Impact Fund will undergo an orderly wind-up, with assets to be divested and capital returned to investors.

The funds invest across Australian- and New Zealand-listed companies, with the Better Future strategies focused on small and mid-cap stocks and the Melior fund targeting large-cap companies.

IMPQ will be suspended on the ASX on October 2. It will settle its final trades on October 6 and is set to pay the final distribution on October 30.

Perennial Partners executive director Anthony Patterson pointed to shifting sustainable investing landscape and demand that has helped drive the terminations.

"Sustainable investing in Australia has evolved considerably since we first established the Better Future Trust in 2018," Patterson said.

"Investors are increasingly accessing the market through their core strategies integrating ESG principles, rather than via standalone specialist products."

Patterson said the shift meant the three funds were unlikely to reach the scale required to deliver their investment objectives over the longer term.

"With responsible investment considerations now embedded across most of our specialist investment strategies, we do not expect these funds to reach the scale needed to deliver on their investment objectives over the longer term," he said.

"We will now commence an orderly process of divesting the assets and returning capital to investors."

The wind-up reflects a broader evolution in how responsible investment considerations are incorporated across Perennial's investment offering, rather than a move away from ESG principles, with Patterson saying the firm remained focused on protecting investors' interests through the process.

"We are grateful for the mandate that investors charged us with, and we remain committed to ensuring their interests are protected and optimised through the wind-up process," he said.

Perennial Partners manages approximately $8.1 billion across its specialist investment teams, spanning Australian equities, small and micro-cap strategies, fixed income, global equities, healthcare, resources and private investments.

MSC Trustees will provide trusteeship, while MSC Abacus will provide fund administration and registry services for the Gold, Energy and Resources Alpha Fund (GERAF), a wholesale strategy managed by Natural Resources Capital.

The team comprises Natural Resources Capital founder and chief investment officer Michel Mamet; chief operations officer Robin Polson; chief technology officer Andrew Lye; and four senior advisers: Nino Ficca, Richard Taylor, Louis Rozman and Alex Dignam.

"We are excited to be working alongside Michel Mamet and the Natural Resources Capital team, and everyone involved as they launch the fund," MSC Group said.

"The GERAF fund is an actively managed portfolio investing in listed equity stocks focused within the precious metals and industrial metals sectors globally."

Specifically, GERAF provides access to a portfolio "that extends beyond" conventional iron ore exposure into sectors that are positioned to benefit from secular growth drivers, including precious and industrial metals, energy value chains, and resource ecosystems and infrastructure.

"We often target businesses with proven management teams that are both highly experienced and deeply aligned with shareholders through significant personal investment," the fund said.

"Our focus is on producing and development companies, with a preference for assets located in Tier 1 jurisdictions, ensuring both risk mitigation and access to long-term value creation opportunities."

The open-ended fund has no fixed maturity date and will be open to applications monthly, targeting wholesale investors with a long-term investment horizon. It also incurs management and performance fees, which it does not disclose.

The fund was officially made available to eligible wholesale investors last month after completing initial investor applications on August 1.

Its current portfolio "has been strong" and has delivered unaudited returns of 85%, including cash on hand as of the end of May, from October 2024 - a period when Mamet began investing his own capital in line with the articulated GERAF strategy.

The rebrand follows JPMAM's acquisition of Campbell Global five years ago and reflects the platform's expansion beyond sustainable timberland investing into land, carbon, biodiversity and other nature-related investments.

J.P. Morgan Natural Capital chief executive Angie Davis said the new name reflected the evolution of the businesses and the broader role of nature-based assets in institutional portfolios.

"This is more than a new name. It reflects who we are today and the direction we believe the asset class is moving," Davis said

"Our roots in sustainable forestry remain central to who we are, but our mandate has expanded to the broader role nature-based assets can play in creating long-term value for clients."

JPMAM global head of private markets Jed Laskowitz said the platform was positioned to capture growing institutional demand for nature and climate related investments.

"As institutional demand for nature-based and climate solutions accelerates, our platform provides access to unique opportunities for both financial returns and sustainability benefits," Laskowitz said.

"The evolution to J.P. Morgan Natural Capital enables us to unlock new opportunities and deliver innovative solutions across the natural capital asset class."

J.P. Morgan Natural Capital manages more than 1.5 million acres globally for pension funds, foundations, family offices and other institutional investors, with approximately US$11 billion in assets under supervision as at 31 December 2025.

The milestone comes under ARENA's Community Batteries Funding Initiative, which is supporting the deployment of batteries designed to help household's make greater use of rooftop solar while improving flexibility across the electricity grid.

ARENA acting chief executive officer Chris Faris said reaching 100 batteries demonstrated growing confidence in the technology as Australia transitions towards a more renewable energy system.

"Reaching 100 community batteries demonstrates growing confidence in the role these assets can play in Australia's energy transition," Faris said.

"Community batteries help local communities make better use of rooftop solar by storing excess energy during the day and making it available when it is needed most."

ARENA said the projects were also providing data on battery performance, costs, business models, customer benefits and impacts on electricity networks, which could support broader commercial deployment.

Under the latest funding round, the YES Group Regional Community Batteries Project will receive $10.29 million to deploy 14 batteries across regional South Australia and New South Wales.

Ausgrid will receive $8 million for 21 community batteries across Sydney, the Central Coast and Hunter regions, while the City of Newcastle will receive $5 million to deploy 12 batteries integrated with embedded solar networks across the Newcastle local government area.

Faris said the program's broader value extended beyond the batteries themselves, with lessons from the projects helping inform future deployment.

"Importantly, the program is also generating valuable real-world data and insights on battery performance, costs, business models, customer benefits and grid impacts," he said.

"These learnings will help accelerate the commercial deployment of community batteries across Australia."

The funding forms part of the Federal Government's $200 million Community Batteries for Household Solar budget measure, form which $171 million was allocated to ARENA to test and scale community batteries and build an evidence base for wider deployment and consumer benefits.

Unlike a co-located battery, the Bairnsdale BESS will connect directly to the electricity grid as a standalone asset, providing dedicated storage capacity independent of a solar or wind farm.

The site will deliver 50 megawatts (MW) of alternate current capacity and 200 MW hour (MWh) of energy storage to the National Electricity Market.

The agreement will help strengthen regional grid reliability and energy flexibility, enabling electricity to be stored and dispatched during periods of peak demand, the parties said.

In doing so, it will support greater penetration of renewables across the grid while enhancing system stability.

Notably, Anza is backed by I Squared Capital and benefits from its broader Asia Pacific energy and infrastructure platform.

Commenting, Anza chief executive Carlo Frigerio said the agreement marks an important milestone for the company.

"Bairnsdale demonstrates our ability to deliver flexible energy infrastructure that respond to the evolving needs of both the market and our customers. We look forward to building on the momentum we have established since launching Anza earlier this year," Frigerio said.

Bairnsdale is part of Anza's diversified development strategy across Australia and New Zealand, spanning standalone battery storage, solar-plus-storage and other integrated energy solutions.

This agreement builds on Anza's existing relationship with Amazon, including nine additional renewable energy deals across New South Wales and Victoria.

The Gender Index Australia study noted a central gap in which women lead 42.2% of the nation's sole trader businesses, but just 15.2% of Australia's incorporated companies.

"The gap widens at every stage of business growth," the study found.

"Women lead 15.8% of Australia's micro companies, 13.3% of small companies, 8.1% of medium companies and 7% of large companies. Male led businesses convert from a small business into a medium one at a rate of 13.7% a year. Female led businesses convert at 6.7%, under half that rate."

It identified access to capital, contracts and networks as the structural conditions shaping the gap, separate from the performance of the businesses themselves.

Modelling in the report estimated closing the gap would support approximately 745,000 additional jobs and add more than $100 billion a year in combined wages and government tax revenue to the Australian economy, made up of $79.4 billion in additional wages and $24.4 billion in additional government tax revenue.

The Gender Index Australia chair Tamara Bryden said closing the gap is a productivity strategy, a jobs strategy, and one of the more significant economic opportunities available to Australia.

"The Gender Index Australia reveals a progression problem. Too many founders are hitting a ceiling on capital, networks and customer access at precisely the point they should be accelerating," Bryden said.

"For the first time, we have a clear picture of where women are progressing in business and where they're being left behind. The opportunity now is bringing government, industry, investors and financial institutions together to remove those barriers."

Queensland led the nation on both measures, with 45.1% of the state's sole traders and 16.3% of its companies are women led, the highest results in the country on each measure.

The report also found female led companies that reach scale match the productivity of male led companies, and in some cases exceed it.

Through the Future Made in Australia Innovation Fund, administered by the Australian Renewable Energy Agency (ARENA), the government is supporting Perth-based Element Zero to test whether Australian iron ore can be converted into high purity iron at pilot scale, using an electricity-based process powered by renewables.

Iron and steel production is one of the world's largest industrial sources of emissions, with conventional ironmaking typically using coal and other carbon-based materials to convert iron ore into iron.

Assistant minister for climate change and energy Josh Wilson said: "Ironmaking is one of the most emissions-intensive parts of steel production, which is why investing in cleaner ways to make iron is such an important opportunity for Australian industry, particularly here in Western Australia."

Element Zero's $53.6 million project will test whether an alternative process - electrochemical ironmaking, which is powered by electricity and uses molten salts - could produce lower-emissions iron efficiently without relying on coal.

"Australia has the iron ore the world needs and some of the best renewable energy resources in the world - the opportunity is to bring those advantages together and make more things here," minister for climate change and energy Chris Bowen said.

"This investment backs Australian technology that could add more value to Australian iron ore, support Australian manufacturing and help cut emissions from one of the hardest parts of the global economy to decarbonise."

The pilot will test a process designed to operate at temperatures of around 400 to 450°C, which are lower than the temperatures typically used in traditional ironmaking processes.

The project will be delivered in two stages. The first stage will involve a pilot plant capable of producing around one tonne of iron per day. Subject to a formal review, the second stage will scale production up to 10 tonnes per day.

The pilot will test different types of Australian iron ore, including hematite and magnetite, and help demonstrate the technology to Australian and international steelmakers.

Lisa George will succeed Fiander and commence with APS early next year, bringing extensive experience across financial services, philanthropy and purpose led organisations.

George has been with Macquarie Group since 2010 and is currently an executive director and global head of the Macquarie Group Foundation, which leads the firm's social impact activities. She is also a former co-chair and current board member of Philanthropy Australia and a director of For Purpose Investment Partners.

APS chair Jan Swinhoe said George's combination of commercial and philanthropic experience would support the organisation's next phase of growth.

"Lisa brings exceptional leadership experience across financial services, philanthropy and purpose-led organisations. She has a strong track record of leading growth, building high-performing teams and delivering meaningful outcomes for stakeholders", Swinhoe said.

The appointment comes as Australia experiences a significant intergenerational transfer of wealth, which APS said presents opportunities to grow philanthropy.

George said she was honoured to join APS at an important time for the sector.

"APS has built an outstanding reputation as a trusted partner for generous Australians, their advisers and the charitable sector. I look forward to building on that foundation and working with the team to expand APS's impact in the years ahead," George.

George joined the APS board as a non-executive director in July 2026, with Swinhoe previously describing her as one of Australia's respected leaders in philanthropy and social impact.

Swinhoe also thanked Fiander for her contributions to APS, saying she had led the organisation with "integrity, purpose and a deep commitment to helping Australians give more effectively".

During Fiander tenure, APS clients distributed a record $250 million to charities in FY26, while the organisation now supports more than 1200 clients who have committed more than $3.1 billion to the community.

"It has been a privilege to work alongside such dedicated colleagues, clients and partners," Fiander said.

🌱 Financial inclusion in the age of AI: Why access matters more than ever

❓ Question:

As artificial intelligence transforms financial services, how can the industry use technology to improve financial inclusion, and why should sustainability professionals view access to finance as a core sustainability issue?

✅ Answer:

According to Stuart White, executive director of business development at Impax Asset Management, financial inclusion extends far beyond simply having a bank account. It encompasses access to affordable financial products and services, including savings, credit, insurance, investments and retirement solutions.

While Australia has one of the world's highest rates of financial account ownership, significant challenges remain around financial literacy, affordable advice, retirement preparedness and access to suitable financial products. White argues that AI and technology could help narrow these gaps by making financial services more personalised, accessible and cost-effective. However, real progress will require strong governance, diversity of thought in AI development, and a greater focus on what he calls "human sustainability" alongside environmental sustainability.

🌟 Financial inclusion goes far beyond banking

White says financial inclusion is about ensuring people can access affordable financial products throughout their lives. That includes bank accounts, savings products, fair-priced credit, insurance, investments and retirement savings solutions.

Importantly, financial inclusion also involves education and helping people better understand increasingly complex financial decisions.

🌟 Australia remains a global leader in retirement savings

Drawing on his experience with the UK's pension system, White points to Australia's compulsory superannuation framework as a leading example of long-term financial inclusion.

While the UK has made significant progress through auto-enrolment pension schemes, Australia continues to demonstrate how consistent retirement contributions can improve financial outcomes across generations.

🌟 AI could dramatically lower the cost of financial advice

One of the biggest opportunities presented by AI is the potential to make financial guidance accessible to more people.

White notes that hybrid and technology-enabled advice models have already significantly reduced costs compared with traditional financial advice. As AI tools become more sophisticated, consumers may gain access to personalised financial support at a fraction of today's cost.

🌟 Personalisation could improve access to financial products

AI has the potential to create more accurate credit assessments and better match people with suitable financial products.

From lending and mortgages to savings and investment solutions, technology may help providers deliver services tailored to individual needs rather than relying on broad demographic assumptions.

🌟 Governance and safeguards remain critical

While AI creates opportunities, White cautions that risks are growing at the same time.

Cybercrime, deepfakes, scams and algorithmic bias all present challenges that must be addressed through strong governance frameworks. He argues that human oversight remains essential to ensure AI systems operate fairly and responsibly.

🌟 Diversity helps reduce bias in financial technology

White is a strong advocate for diversity and inclusion across financial services.

When designing AI systems, he believes diverse teams are better positioned to identify blind spots and reduce unconscious bias in algorithms. Diversity of thought, experience and backgrounds plays an important role in creating financial products that better serve society as a whole.

🌟 Financial inclusion supports economic growth

Greater access to financial services benefits not only individuals but entire economies.

White argues that helping more people save, invest and build financial resilience creates stronger communities, improves intergenerational wealth transfer and contributes to long-term economic prosperity.

🌟 The investment industry can play a larger role

Institutional investors are increasingly recognising financial inclusion as part of a broader sustainability agenda.

White says access to finance is one of the key sustainability themes considered by Impax Asset Management and should be viewed both as a societal opportunity and an investment consideration.

🌟 Sustainability is becoming more pragmatic and commercial

White believes sustainability is entering a new phase.

Rather than being driven primarily by ideology, sustainability is increasingly being linked to practical concerns such as energy security, economic resilience, supply chains and financial wellbeing. This pragmatic approach is helping organisations connect sustainability outcomes with commercial value creation.

💡 Why it matters:

Much of the sustainability conversation focuses on climate change, biodiversity and decarbonisation. However, financial inclusion is equally important for creating resilient communities and sustainable economies.

As AI reshapes financial services, organisations have an opportunity to improve access to affordable advice, credit, savings and retirement solutions. For sustainability professionals, the challenge is ensuring new technologies are designed responsibly and deliver benefits fairly across society. White argues that "human sustainability" should become a permanent part of boardroom discussions, sitting alongside environmental priorities as a core pillar of long-term value creation.

🎙️ Sources:

Stuart White, executive director of business development, Impax Asset Management

Michelle Baltazar, host, The Greener Way

Impax Asset Management

Nest (National Employment Savings Trust)

⏱️ Timestamps:

00:24 Introduction to Stuart White and financial inclusion

03:00 Defining financial inclusion beyond bank accounts

04:35 The biggest global financial inclusion gaps

06:31 How AI can improve access to financial services

08:13 Governance, cybersecurity and AI risks

09:30 Diversity and bias in AI development

11:40 How financial inclusion benefits economies

13:33 Creating jobs and investing for future prosperity

15:11 Practical lessons for sustainability professionals

16:29 Why sustainability is becoming more commercial and pragmatic

18:40 The case for human sustainability

🌿 We record on Gadigal Land and pay our respects to the traditional custodians of country and elders past and present.

Modern slavery is an umbrella term used to describe serious forms of exploitation, including forced labour, debt bondage, servitude, forced marriage and human trafficking. Under Australia's Modern Slavery Act 2018, reporting entities with more than $100 million in annual revenue are required to identify and disclose the risks of modern slavery in their operations and supply chains and describe the actions taken to address those risks.

As a responsible investor, U Ethical considers modern slavery risk as part of its broader assessment of environmental, social and governance (ESG) risks that may affect the long-term sustainability and value of investments.

The statistics are stark and widely acknowledged as estimates at best. According to Walk Free's Global Slavery Index 2023, 50 million people are experiencing modern slavery, with a further 28 million in forced labour as of 2021. Asia and the Pacific are particularly exposed to modern slavery, with Walk Free reporting that in our home region, an estimated 29.3 million people were living in modern slavery and 15 million people experienced forced labour during the same time period.

These are the most up-to-date estimates, but there is no reason to believe that fewer people are experiencing modern slavery and forced labour in 2026 than five years ago.

These facts are marshalled into the arguments as to why investors should have a regard to how portfolio companies manage modern slavery and wider human rights issues across their value chains, as encapsulated in the Responsible Investment Association Australasia's Human Rights in in Global Value Chains Investor Toolkit:

From an investor perspective, some of the key financial impacts include brand damage, which can lead to loss of sales, and reputational issues, which can be hard to quantify. Given that market value is increasingly made up of intangible drivers, including brand and customer / supplier relationships, human rights issues can be material and can therefore impact valuation multiples.

Even as companies and investors strategise on how to manage the risks of modern slavery in their value chains, it is worth remembering that behind all these facts are stories of misery and exploitation, which is why taking a survivor lens to evaluating proposed approaches to ameliorate modern slavery is essential. It grounds us in the human beings behind the statistics.

The Capability Assessment of Housing Australia report, authored by consultant Ken Kanofski, identified strengths, capability gaps, and practical opportunities to improve Housing Australia's performance and effectiveness following a six-week examination.

Three years since the government overhauled its purpose and handed down an expanded mandate, the review found Housing Australia is "strongly committed to delivering the government's housing priorities", yet it also highlighted opportunities to better the organisation as its responsibilities continue to grow.

The next steps require the government body to move away from "transaction execution to active stewardship of delivery before moving to longer term 'in-life' operations."

The National Housing Finance and Investment Corporation (NHFIC), launched in 2018 and transitioned to Housing Australia in 2023, with an expanded mandate. It evolved from being a specialist financing provider to having a central role in delivering the government's housing agenda.

Some of its initiatives over the last 18 months include launching the 5% Deposit Scheme and laying the foundations for the 2024 legislated Help to Buy program.

Its most significant mandate is the concurrent management of the large-scale delivery of social and affordable housing programs, the Housing Australia Future Fund Facility (HAFF) and National Housing Accord Facility (NHAF).

Kanofski flagged the "significant pressure" Housing Australia has faced in managing these.

"Program targets are ambitious within the prescribed timeframe and pressures are expected due to planning, procurement, financing, construction capacity, costs and market conditions," he wrote in the report.

"However, the organisation remains accountable for actively overseeing delivery partners, identifying emerging risks, supporting timely interventions and providing Government with a reliable portfolio-wide view of delivery progress and confidence."

The review said Housing Australia needs a more robust organisation-wide delivery framework, including a single risk-adjusted forecast, integrated project schedules and consolidated risk reporting. Such measures would improve visibility of delays, cost pressures and delivery risks while enabling earlier intervention when projects fall behind schedule.

The report also found governance arrangements have not fully evolved with the agency's expanded responsibilities. While board and management oversight remains heavily focused on financial and transaction risks, greater emphasis is needed on program delivery, project management and portfolio stewardship.

Kanofski also highlighted challenges facing community housing providers (CHPs), noting varying levels of capability across the sector. The report recommended additional support, simplified processes and greater awareness of available capacity-building services to help projects reach financial close more efficiently.

Overall, the review concluded Housing Australia "is not yet aligned in its accountability for delivery."

Kanofski's recommendations include designing and delivering a monthly report outlining a whole-of-program view to management, setting up a Housing Delivery Unit to administer all housing programs and appointing a deputy chief executive to lead the unit.

Treasury recently opened a consultation to enhance efficiency of climate disclosures by reducing the cost of compliance for companies.

To achieve this, Treasury is considering the current assurance settings for reporting. Under one of the options, all companies would only require limited assurance on an ongoing basis, removing the requirement to transition to reasonable assurance.

Under another option, the government would retain the long-term objective of progressing to reasonable assurance while extending the transition period from 2030 to 2035.

Avarni co-chief executive Misha Cajic said he doesn't think it's a good idea to completely eliminate reasonable assurance as the industry might end up with a lot less confidence on the numbers. Avarni helps organisations meet their sustainability compliance commitments.

"To be honest, we're in a lot of conversations now with group ones and their auditors, and the auditors are already applying reasonable assurance tests on inventories, even though it's limited assurance," Cajic said.

Cajic recommends a tiered system for assurance depending on the quality of the data, where companies reasonably assure information that has already happened and have available data on it.

"Whereas limited assurance, I think, makes more sense for a lot of the forward-looking information, like downstream scope three," Cajic said.

"That's where you're estimating how the product's going to be disposed in 10 years from now, for example, that is where it makes sense to potentially ease the requirements on reasonable assurance. It's so much more difficult."

Grant Thornton Australia sustainability reporting advisory partner Samantha Sing Key said as entities are only in their first reporting period, it's too early to determine the most efficient way forward for the longer term.

"This was a year of firsts: first time for companies preparing reports using AASB S2 as well as the first time assuring those reports under ASSA 5000. Overall, the most important part of the policy will be to give businesses certainty around what is required and when for both auditors and preparers," Key said.

Cajic added a lot of the auditors are still learning on the job on how to properly report climate disclosures.

"We've even noticed that different auditors in different cities within the same firm -because it's mostly the big four that's auditing the group ones at the moment - and even different auditors in the same firm are treating the assurance differently," he said.

He noted it is too early to tell whether reasonable assurance will be too expensive or not.

"Right now, what it feels like is happening is basically people are reacting to just how much uncertainty there is in Scope three and saying, 'Oh, you know, we should dumb it down because we won't be able to reasonably assure it'. I think it's worth probably seeing it out for a little longer before making a call on Scope three," Cajic said.

Treasury is also floating a government-run repository of domestic emissions factors so large companies can estimate Scope three without issuing data requests to suppliers.

"It would improve access to publicly available emissions factors, which is a necessary part of Scope three emissions measurement," Key said.

"AASB S2 recognises that the measurement of Scope three greenhouse gas emissions is likely to include the use of estimation. Many emissions factor databases have paywalls, creating challenges for companies to access emissions factors needed for calculating their Scope three emissions."

Cajic noted those kind of databases already exist, and there is already an Australian-specific one that Avarni works with.

"What we're imagining is that the government wants to put forward something that's perhaps a little more accurate than what's currently out there," he said.

"We're unsure how they plan to collect that information. Perhaps they'll work with service providers such as ourselves who do collect it from companies."

"Most federal contracts contain a provision that requires contractors to provide equal opportunity to employees and applicants for employment," US Department of Justice said.

As a condition to being a federal contractor, companies must certify to not discriminate against an employee or applicant for employment because of race or sex and must further certify to take steps to ensure that applicants are employed, and employees are treated during employment, "without regard to" race or sex.

The settlement resolves allegations from 2017 to the present of Deloitte falsely certified compliance with these conditions, while engaging in discriminatory race and sex-based employment practices.

"Merit drives opportunity and promotion. Not someone's sex or race. Today's settlement is yet another example of this Department's commitment to eliminating woke, unconstitutional practices from American workplaces," US associate attorney general Stanley Woodward Jr said.

The United States alleged Deloitte took race or sex into account when making hiring, promotion, and staffing decisions to achieve progress toward non-public race and sex-based workforce composition goals.

"Business units within Deloitte received monthly summaries tracking the demographic goals within the unit, where representation or advancement toward the goal was highlighted in green, yellow, or red depending on whether the goal was exceeded, met or slightly missed, or significantly below the goal," US Department of Justice said.

"In addition, the United States alleged Deloitte's partners, principals and managing directors (PPMDs) were evaluated, in part, based on their contributions to helping Deloitte achieve its workforce composition goals, while, for a two-year period, approximately 150 of Deloitte's most senior PPMDs compensation could be impacted if their business units did not meet demographic goals set by Deloitte."

The United States alleged Deloitte offered certain training, mentoring, leadership development programs, educational opportunities or resources, and/or similar opportunities only to certain employees, with eligibility limited on the basis of race or sex.

"Government contractors cannot reward or penalize employees based on race or sex - and labelling the practice DEI does not make it lawful," Attorney General Todd Blanche said.

"The Justice Department will aggressively pursue government contractors that have used taxpayer dollars to fund unlawful discrimination."

Deloitte denies that it engaged in the covered conduct and denies the allegations in the Civil Action.

Earlier in the year, US president Donald Trump signed an executive order asking federal contractors ‌and their subcontractors to eliminate diversity, equity and inclusion practices.

Bowen added no special carve-outs will be given to specific states, and the government will legislate nationally consistent standards, which will require data centres to be run by renewables, with peaking and firming that can be done by gas.

"The only change is that if a state-owned energy company feels that they can power a data centre cheaper than with renewables, they can make that claim to the federal government. We'll have the Australian energy regulator look at it and assess it," he told ABC News.

"But the Commonwealth will decide that, not a state or territory. That's very clear."

He said in each case, companies will have to prove how, against every other situation, coal or gas is cheaper than renewables.

"It's a very high bar and needs to be. We're playing for very important stakes here. The energy used for these data centres is massive. We want to make sure that it doesn't put upward pressure on bills," Bowen said.

"We know if it was open slather in Queensland, they would just let data centres do whatever they want. The modelling shows it will push up energy bills, wholesale energy bills in Queensland, by 13%. That's not okay with us. We won't let that happen."

He added given renewables are the cheapest form of energy, the government wants data centres to bring forward new, additional renewable energy investment, not energy investment that was going to occur anyway.

The projects are being supported across 'cells and modules' and 'balance of systems and operation and maintenance', as well as focus areas of increasing efficiency; reducing cost; improving stability; and supporting of levelised cost of electricity (LCOE) reduction or innovation to increase yield.

The investment builds on ARENA's ultra low-cost solar ambition to help reduce installed solar costs to 30 cents per watt by 2030 to drive down the costs of solar-generated electricity, ARENA said.

The funding represents ARENA's largest single investment in solar photovoltaic (PV) research, as ARENA acting chief executive Chris Faris said the projects would help ensure Australia remained at the forefront of solar innovation.

"Australia has played a leading role in the development of solar technology, and these projects will help ensure we continue to strengthen that position," Faris said.

"The portfolio brings together a mix of near-term improvements and breakthrough technologies that have the potential to lower costs, improve performance and accelerate the deployment of solar energy both in Australia and around the world."

"Achieving ultra low-cost solar requires innovation across the entire value chain. From the solar cells and modules themselves through to the way solar farms are built, operated and maintained, these projects will help unlock practical solutions that support a faster, more affordable energy transition."

He added ARENA initially allocated only $60 million for these projects but decided to increase funding after considerations on the quality of applications.

Current applicants include University of New South Wales with 12 projects, Australian National University, University of Sydney, University of Melbourne, Sunspence, and Proa Energy Australia.

Prior to the role, she was head of natural capital at CEFC, where she developed the nascent sector into an asset class that is attracting international capital to Australian agriculture.

Sung will use her expertise in market development, investment innovation and capital deployment to ensure continued impact as CEFC policy, technology, markets and investor expectation evolve, CEFC said.

"Innovation has been a defining feature of the CEFC since its inception, with a proven track record of developing new investment models and backing emerging sectors ahead of the market," Sung said.

"This role will apply this innovative, strategic mindset to the next phase of clean energy investment growth, ensuring our capital settings keep pace with a changing market."

Sung who also joins the CEFC executive team, said the role played by targeted capital in helping establish the emerging natural capital sector demonstrated its potential to deliver long-term economic and environmental benefits.

In her time at the helm, the CEFC committed some $650 million to land-based and natural capital investments, attracting over $930 million in private capital, working alongside institutional investors like La Caisse and Aviva Investors, and banks Rabobank and NAB.

"Natural capital is a key part of Australia's transition, helping to unlock new investment opportunities, build international market confidence and deliver real-world outcomes, including First Nations participation," Sung said.

"It has been incredibly rewarding and a privilege to lead the development of the sector at CEFC and establishment of a strong investment team of sector experts who are helping to shape its future.

I am excited to take on this new, broader responsibility and help position the CEFC to identify future opportunities and keep delivering for Australia's clean energy transition."

Based on indices provided by Vaisala Xweather, the new futures will track and settle against independent datasets that model projected wind power output at designated locations, including Australia and the US.

The five indices are the Wind Power Germany ERA5 100m 2019 Index; Wind Power Germany ERA5 100m 2022 B Index; Wind Power UK ERA5 100m 2022 Index; Wind Power Australia VIC 2024-06 Index; and the Wind Power US Texas ERCOT ERA5 100m 2022 Index.

The regions across the four areas selected have either a significant amount of installed capacity or a notable percentage of their electricity comes from wind generation, CME Group said.

The new contracts add to CME Group's offerings on the energy transition, including Henry Hub natural gas and weather futures.

CME Group global head of energy products and managing director Peter Keavey said the offering will allow investors to manage "fluctuating" wind production.

"As wind power accounts for a growing share of electricity generation, hedging renewable energy markets has never been more important," Keavey said.

"Our new wind futures and options contracts will provide market participants with a standardised, exchange-cleared solution to manage their exposure to fluctuating wind production impacting the power stack - all on the same platform as natural gas, power and weather."

Meanwhile, Vaisala Xweather general manager of insurance sales David Whitehead added: "Our work with CME Group brings the same independent, trusted, and rigorously modelled data behind temperature contracts to wind power, giving traders, utilities, and renewable operators a standardised way to manage the financial effects of an increasingly extreme weather environment."

"It's a natural extension of the datasets our settlement services team has previously provided CME Group with, and we're excited to help scale the market for exchange-listed renewable weather derivatives across the US, Europe, and Australia."

🔥 Climate Investors Have a New Obsession: Energy Security

❓ Question:

As geopolitical tensions rise, physical climate risks intensify and energy systems undergo rapid transformation, how are institutional investors approaching climate investing in 2026, and where do they see the biggest opportunities and challenges ahead?

✅ Answer:

According to Lucian Peppelenbos, climate and biodiversity strategist at Robeco, institutional investors remain committed to climate investing, but their motivations are evolving. While climate change remains an important consideration, investors are increasingly focused on performance, energy security and managing physical climate risks rather than pursuing net-zero objectives for their own sake. The findings come from Robeco's 2026 Global Climate Investing Survey, which surveyed 300 institutional investors representing US$35 trillion in assets.

Peppelenbos argues that climate investing is entering a more mature phase. Rather than being driven primarily by ambition and commitments, investors are now concentrating on practical investment opportunities created by the energy transition, particularly in renewable energy, energy infrastructure, electricity grids and battery storage. At the same time, they are becoming more aware of the financial consequences of climate-related physical risks, including floods, bushfires and extreme weather events.

🌟 Climate investing may have moved beyond the hype cycle

One of the survey's most notable findings is that investor enthusiasm for climate investing appears to have stabilised after several years of decline. Peppelenbos describes this as a "net-zero hype cycle". Investor support reached very high levels several years ago before falling as the realities and complexities of the transition became clearer. The latest survey suggests that downturn may have bottomed out, with investors expecting climate considerations to become increasingly important again over the coming years.

🌟 Energy security is becoming a powerful investment driver

While climate policy remains important, many investors now view energy security as an equally compelling reason to invest in the transition. Peppelenbos says ongoing geopolitical tensions, including disruptions to global energy markets, have strengthened the case for domestic renewable energy generation. Renewable energy is increasingly being viewed not only as a decarbonisation solution but also as a way to reduce exposure to geopolitical risks associated with fossil fuel dependence.

🌟 Renewables, electricity grids and batteries remain investment favourites

Institutional investors continue to see attractive opportunities in renewable energy, electricity grids and related infrastructure. However, battery storage is emerging as an increasingly important theme. As renewable generation grows, storage solutions are becoming critical for balancing electricity supply and demand. Peppelenbos says investors are paying closer attention to batteries because they help support more resilient and secure energy systems.

🌟 Investors expect a disorderly climate transition

The survey found that many investors do not expect an orderly path to net zero. Instead, an overwhelming majority anticipate a future characterised by both significant transition risks and increasing physical climate risks. In other words, investors expect climate action to occur too slowly to fully avoid the consequences of global warming, creating challenges on multiple fronts for economies, businesses and portfolios.

🌟 AI and data centres are being viewed as long-term sustainability enablers

Artificial intelligence and expanding data centre infrastructure are often criticised for increasing energy and water consumption. However, investors generally believe the long-term benefits will outweigh the short-term costs. Peppelenbos says many respondents view AI as creating upfront resource demands that could ultimately lead to a more efficient economy with lower emissions and better resource utilisation over time.

🚩 Physical climate risks are moving into investment decision-making

Investors are becoming increasingly concerned about the direct impact of extreme weather events on asset prices. According to the survey, many respondents expect physical climate risks to influence asset valuations within the next five years. As a result, investors are adapting portfolio construction, strategic asset allocation and stock selection processes to better account for these risks.

🚩 Data challenges remain a major obstacle

Despite growing awareness, incorporating physical climate risk into investment decisions remains difficult. Peppelenbos explains that climate-risk modelling has traditionally been used within risk-management teams rather than investment teams. The challenge now is converting climate scenarios and risk analysis into practical inputs that can be incorporated into investment decisions and asset valuation frameworks.

⚠️ Insurance markets may face increasing pressure

Climate risk is creating both opportunities and concerns for insurers. Demand for insurance, reinsurance and catastrophe-related products is growing, but there are also concerns about whether some risks will remain insurable. Peppelenbos points to instances where insurers have retreated from high-risk regions, potentially exposing homeowners and creating longer-term implications for property values and market stability.

⚠️ Regional approaches to climate investing remain very different

The survey highlights significant regional differences in investor sentiment. European and Asia-Pacific investors continue to place greater emphasis on climate investing than their US counterparts. While enthusiasm in Europe has moderated since its peak, Asia-Pacific investors have remained relatively consistent in their approach, suggesting that climate investing continues to evolve differently across regions.

🌟 The next phase of climate investing may be more pragmatic

Peppelenbos believes the future of climate investing will be less ideological and more commercially focused. Investors are still pursuing renewable energy and climate-related opportunities, but increasingly because they see strong long-term economic fundamentals and attractive investment outcomes rather than simply because they align with net-zero goals.

💡 Why it matters:

Climate investing is no longer just about emissions targets and sustainability commitments. Institutional investors are increasingly approaching the transition through the lens of energy security, economic resilience and risk management. The growing focus on batteries, electricity infrastructure, renewable energy and physical climate risks suggests that climate-related investing is becoming more integrated into mainstream portfolio construction. For investors and asset owners, understanding these changing priorities may help identify where capital flows, opportunities and risks are likely to emerge over the next decade.

🎙️ Sources:

Lucian Peppelenbos, climate & biodiversity strategist, Robeco

Michelle Baltazar, host, The Greener Way

Robeco 2026 Global Climate Investing Survey

⏱️ Timestamps:

00:00 - Investors expect a "too little, too late" climate transition

00:13 - Introduction to Robeco's 2026 Climate Investing Survey

01:10 - Who participated in the survey and why it matters

02:01 - Climate investing's hype cycle and changing priorities

04:00 - Regional differences between Europe, Asia-Pacific and the US

05:27 - Why investors expect both transition and physical risks

06:15 - Energy security's growing influence on investment decisions

08:07 - Renewable energy, grids and battery storage opportunities

09:01 - AI, data centres and sustainability impacts

10:42 - Net-zero goals versus investment performance

12:22 - Physical climate risks and asset pricing implications

14:25 - Insurance markets and climate-related challenges

15:39 - Key investment takeaways from the survey

🌿 We record on Gadigal Land and pay our respects to the traditional custodians of country and elders past and present.

The influx of increasing superannuation guarantee contributions, rollover activity and strong end-of-financial-year contributions boosted Australian Ethical's superannuation net flows, which overall stood at of $664 million, up 13% year-on-year, and helped drive record funds under management of $14.5 billion.

"We also saw improving member acquisition momentum in the latter half of FY26 following the successful completion of the transition to the GROW administration platform, enhancements to digital marketing capability, improved member onboarding processes and the reactivation of the Employment Hero acquisition channel," the company said.

APRA slapped Australian Ethical Retail Superannuation Fund with extra licence conditions last year, concerned over the fund's investment management arrangements with its parent company and whether the fees involved are in members' best financial interests.

Shortly thereafter, Natalie Kooyman was named chief risk officer to replace Karen Hughes, who had served in the role since 2017.

In the second half of FY26, Australian Ethical said its superannuation trustee, Australian Ethical Superannuation, made good progress to address the additional licence conditions imposed by APRA.

"As part of this work, EY was engaged to undertake an independent review of the Trustee's framework for assessing, overseeing and substantiating related-party outsourcing arrangements in relation to the licence conditions. The review highlights further governance enhancements the Trustee will undertake in FY27," Australian Ethical said.

"Ensuring the business is resilient as well as efficient is critical and as such we continue to focus on the governance uplift required to further strengthen the governance, risk management and oversight of related-party arrangements to support the continued maturity of the superannuation business and the best financial interests of its members."

Undertaking an independent review and carrying out activities to improve the governance, risk management and oversight of related-party arrangements in relation to APRA's licence conditions cost $833,000.

Since transitioning its super administration to GROW Inc from Mercer in 2024, Australian Ethical said it has seen the benefits of the transition with admin and custody fees decreasing 16% over the year.

The group posted underlying profit after tax of $27.3 million, up 15% annually.

Australian Ethical managing director John McMurdo said FY26 was a year of disciplined execution for the company, delivering record earnings, key strategic milestones and continued business momentum.

"Australian Ethical continues to receive peer recognition through industry awards and accolades that reflect the strength of the business we have built, our investment capability, the quality of our customer experience, people, products and operating platform. Together these acknowledgements reinforce our position as one of Australia's leading purpose-driven financial services organisations," he said.

The Court found that Santos' descriptions of natural gas as "clean energy" and its 2040 net zero target were not misleading when read in context and from the perspective of the relevant target audience.

This is an important decision for any company sustainability-related claims, setting emissions targets, or labelling products with certain claims.

It confirms that context is critical, audience matters, future targets must be backed by reasonable grounds, and common terminology is evolving and must be kept in mind.

While Santos was successful, the case highlights how closely courts and regulators will scrutinise climate claims.

Now is a good time for companies to review their climate targets and supporting assumptions, assess whether their sustainability language aligns with current regulatory expectations, test whether a reasonable investor would clearly understand pathway and limitations, and ensure board and management oversight is appropriately documented.

This is often interpreted as evidence that materiality is inherently subjective and overly reliant on professional judgment. That is not the real issue. The recent International standard on sustainability assurance 5000, general requirements for sustainability assurance engagements (ISSA 5000) FAQs suggest the conversation needs to shift from defining materiality to understanding the governance processes behind it.

The more fundamental problem is that materiality is still treated as a single judgment, when in reality it is a sequence of related judgments made by different participants within a governance system. Each participant asks a different question, applies a different evidential threshold, and ultimately makes a different decision. Labelling all these decisions as materiality has obscured rather than clarified the governance challenge.

RFF substantially improved its earnings from FY25's $20.3 million thanks to asset revaluations following the sale of several assets at a premium to book value.

Also contributing to earnings was net property income, which increased by 5.7% to $100.5 million.

This increase was primarily from additional rental income on capital expenditure, mainly macadamia orchards, and indexation.

Net farming income also improved by $1 million compared to the prior year, driven by favourable cropping results on two cotton properties.

Some of the completed sales included 2254ML of high-security Murrumbidgee River water entitlements, the Maryborough cropping properties and the Cerberus cattle property.

RFF managing director David Bryant said the group completed the sale of two sugarcane properties for $6.3 million and a 6254-megalitre water entitlement for $53.3 million during the period.

"Importantly, the water entitlements sold were not needed to support RFF's existing properties and were therefore surplus to portfolio requirements," Bryant said.

"While these entitlements have delivered strong capital growth since their acquisition, the income from annual allocation sales has been modest in recent years and below RFF's cost of debt, making their sale accretive to adjusted funds from operations (AFFO)."

During the 12 months, RFF commenced planting an additional 694 hectares of macadamias on the unleased portion of Rookwood Farms. The project is designed to improve utilisation of existing land, water and infrastructure assets and support future earnings growth.

"Developing agricultural assets is a core part of RFF's strategy, generating both income and capital growth by bringing underutilised land and water into higher-value production, which lifts potential income generation and value," he said.

RFF develops and leases agricultural properties, such as almond and macadamia orchards, vineyards, cattle properties, cropping properties, agricultural plant and equipment, cattle and water rights. It manages a $1.8 billion property portfolio.

Rural Funds Management is the responsible entity and manager of RFF. It manages over $2.5 billion of agricultural assets on behalf of retail and institutional investors.

The offering comprises C$400 million of Series 21 notes maturing in August 2036, carrying a fixed interest rate of 4.489% and C$350 million of Series 22 notes maturing in August 2031 4.256%.

Brookfield Renewable Partners, a subsidiary of Brookfield Renewable, will issue the notes, which will be fully and unconditionally guaranteed by Brookfield Renewable and certain key holding subsidiaries.

The transaction is expected to close on August 24, subject to customary conditions.

Proceeds will be used to fund eligible investments under Brookfield Renewable's 2-24 Green Financing Framework, including repaying outstanding debt incurred in connection with those investments.

The Series 21 and Series 22 notes will represent Brookfield Renewable's nineteenth and twentieth green-labelled corporate securities issuances in North America respectively.

The latest fundraising comes as demands for capital to support renewable energy and sustainable infrastructure continues to grow, with Brookfield Renewable operating a portfolio spanning hydroelectric, wind, utility scale solar, distributed solar and storage assets.

The company also has exposure to sustainable solutions including nuclear services, carbon capture and storage, agricultural renewable natural gas, materials recycling and eFuels manufacturing.

Brookfield Renewable is one of the flagships listed energy business of Brookfield Asset Management, which has more than $1 trillion in assets under management.

Investors can access Brookfield Renewable through Brookfield Renewable Partners or Brookfield Renewable Corporation, which are listed on the New York Stock Exchange and Toronto Stock Exchange.