News & Views

The Australian Government has lodged an updated Nationally Determined Contribution (NDC) with the United Nations Framework Convention on Climate Change (UNFCCC) secretariat. This is part of Australia’s obligations under the Paris Agreement. The updated NDC commits Australia to a more ambitious 2030 target of 43% below 2005 levels by 2030 an increase of 15 %. READ MORE

ASIC is clarifying ESG reporting in Australia to avoid greenwashing.  Sustainable investment is likely to exceed US$53 trillion globally by 2025. In the Asia-Pacific alone, environmental, social and governance (ESG) investments have more than doubled between 2019 and 2021. Australian Investments and Security Commission (ASIC) has now published an official information sheet on greenwashing in the ESG space, seen by some as a veiled warning to those not following the Corporation Act to the letter.  ASIC commissioner Sean Hughes made no bones about it, “ASIC is continuing to monitor the market and will be looking for misleading claims about ESG and sustainability. READ MORE

AusLSA friend Workplace giving Australia has just wrapped up its Workplace Giving Month. The June program included three informative and high quality webinars. If you missed them, you can find recordings online below - along with the full research paper from the Behavioural Economics Team of the Australian Government.

1. What works at work: Shifting the dial on workplace giving 
2. How to join the Workplace Giving Revolution
3. Creating Better Futures Through Workplace Giving

Linking executive remuneration to material ESG outcomes can avoid greenwashing in infrastructure companies, according to fund manager Maple-Brown Abbott. Maple-Brown Abbott has engaged with companies in the Global Listed Infrastructure fund and used its proxy votes as a way to encourage alignment in short- and long-term executive remuneration with sustainability commitments and decarbonisation targets. READ MORE

The latest round of 113 new senior promotions at Minter Ellison includes 60% female promotions. Promotions were driven by client demand for expertise in ESG, workplace leadership and culture, digital transformation, energy transition, risk and regulation, private capital.

"Having more women in partnership and leadership positions is a crucial diversity and inclusion priority. I am pleased how transparent, accountable and focused we are to achieve this target. Our offices, business units and practice groups are accountable to this gender and equality target and we are working towards the 40:40:20 partnership target of any gender by 2025," Virginia Briggs, CEO and Managing Partner said. READ MORE 

Clayton Utz will now offer our people access to 26 weeks' paid parental leave, with effect from 1 July this year. The updated policy also removes the distinction between primary and secondary carers, and offer parents greater flexibility as to when they access the paid leave, which can be taken over two years. READ MORE 

CitySwitch is partnering with the National Australian Built Environment Rating System (NABERS) to provide a 50% discount on the NABERS lodgement fee for tenancy and whole building ratings.. NABERS is recognised as a key pillar of the property industry’s transition to net zero emissions. Recap on the benefits and hear important updates from NABERS HERE and download a discount application HERE 

We know that the price of direct air capture (DAC) is currently prohibitively high but it is equally well understood that both engineered and nature-based carbon removals are likely to be critical to capping global temperature rises at 1.5 degrees Celsius. The UN's Intergovernmental Panel on Climate Change (IPCC) warned last year that greenhouse gas emissions have risen so quickly that large-scale carbon removal is "unavoidable" if the world is to stave off the worst impacts of climate change. READ MORE

Research from Sustainable Brands and Ipsos reveals high levels of environmental concern but a global misperception on the most impactful sustainable behaviors — with a belief that recycling will yield bigger benefits than eating plant-based diets, increasing energy efficiency, and 58 more impactful choices.

But people want to live sustainably, they understand their power as consumers to influence brands to take responsibility as well. In the US, 69 percent of respondents agreed that they believe they can influence companies to do better by buying from them when they do. Globally, 69 percent say they try to purchase products from brands that act responsibly, even if it means spending more. READ MORE 

Aviation is widely considered a hard-to-abate sector and is one of the fastest-growing in the world in terms of emissions. The world’s major airlines, airports and suppliers have backed a new report outlining how the aviation sector can increase usage of sustainable aviation fuels (SAFs), improve engine efficiency and invest in novel low-carbon technologies to help reach net-zero by 2050. READ MORE