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Challenging market weakens ESG-focused fund flows

ROSE MARY PETRASS  |  THURSDAY, 27 JUL 2023  |  NEWS
Australian and New Zealand sustainable funds saw record outflows of US$1.7 billion against a backdrop of global outflows. Inflation, interest rates and recession fears are weakening flows into global sustainable funds overall- which attracted $US18 ...

The skills shortage delaying net zero: CEDA

ROSE MARY PETRASS  |  WEDNESDAY, 26 JUL 2023  |  NEWS
... governments should focus on supporting workers and communities in a just transition rather than subsidising businesses to close high-emissions facilities. A "just transition" means moving the economy towards a greener future while ensuring fairness and ...

Suppliers on notice: Amazon to enforce emissions reporting

ROSE MARY PETRASS  |  WEDNESDAY, 26 JUL 2023  |  NEWS
... fleet to electric delivery options, the company has also lowered data centre carbon footprints by nearly 80%. "Amazon is a high-growth company, and a decreasing carbon intensity indicates that we're successfully decoupling our emissions growth from ...

Mike Ng named first chief sustainability officer for OCBC

ROSE MARY PETRASS  |  WEDNESDAY, 26 JUL 2023  |  NEWS
Oversea-Chinese Banking Corporation Limited (OCBC) has announced the creation of the role of chief sustainability officer with current head of sustainability Mike Ng stepping into the role on 1 August. The new role will lead the transition to net zero ...

ASIC takes Vanguard to court over further greenwashing claims

RACHEL ALEMBAKIS  |  TUESDAY, 25 JUL 2023  |  NEWS
... it was first self-reported. "There was never any intention to mislead, but Vanguard recognises it has not lived up to the high standards it holds itself accountable to and apologises for the concern this matter may cause for our clients." Vanguard said ...

APRA strengthens super fund ESG responsibilities

RACHEL ALEMBAKIS  |  THURSDAY, 20 JUL 2023  |  NEWS
The Australian Prudential Regulation Authority (APRA) has clarified that they expect super funds to demonstrate an understanding of ESG risks and opportunities in investment activities and demonstrate how stewardship activities generate value in investments. ...

Biodiversity in 2023 and beyond - what should Australian businesses expect?

LOUISE CAMENZULI, PHOEBE WYNN-POPE, JULIA GREEN, KATE GILL-HERDMAN  |  THURSDAY, 20 JUL 2023  |  NEWS
The year 2022 ended on a high note for biodiversity at both a domestic and international level and 2023 continues building upon that momentum, with the elevation of biodiversity as a critical consideration in planning, development and economic decision ...

University secures $450 million sustainability-linked loan

RACHEL ALEMBAKIS  |  THURSDAY, 20 JUL 2023  |  NEWS
Macquarie University has inked a $450 million sustainability linked loan (SLL) as part of a refinancing deal that will see interest rate savings invested in scholarships for disadvantaged students. Macquarie has refinanced its bank facilities and worked ...

KPMG recommends gender-focused super reforms

ANDREW MCKEAN  |  WEDNESDAY, 19 JUL 2023  |  NEWS
... $944 million. By the 2026-27 financial year, this cost is forecast to balloon to $1.1 billion. However, when considering the high costs of formal care, each carer receiving the Carer Payment contributes to net budgetary savings. "If those receiving care ...

Charter Hall sets records for sustainable office portfolio

ROSE MARY PETRASS  |  TUESDAY, 18 JUL 2023  |  NEWS
Charter Hall Group has become the largest 5-Star Green Star rated office portfolio in Australia as well as holding the most 6-Star Green Star Performance rated office buildings in the country. With more than 1.58 million square metres certified, the ...