Australia has outlined its proposed Sustainable Finance Strategy, including a taxonomy to help create a net-zero framework and a labelling system for green investment products.
The Treasury set out its plans in a consultation document that had been promised in December last year. It calls for transparency in reporting climate impacts and materiality.
Like its EU counterpart, the proposed Australian taxonomy would help manufacturers of financial products assess how closely their funds aligned with sustainability principles and targets. The labelling regime will focus on preventing abuse within retail investment markets.
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