Finsia urges sustainability reporting
The financial services sector is urging business to incorporate sustainability reports in company structures to curb climate change.
The Financial Services Institute of Australia (Finsia) has called for leadership from the business community to report sustainability risks and has suggested mandatory sustainability reporting to ensure business reduces its environmental footprint.
More than half of the Finsia members surveyed support mandatory reporting of sustainability risks, and nearly 90% believe the Australia Stock Exchange or ASIC should provide guidance on how companies can report on sustainability.
Finsia CEO Brian Salter says financial industry leaders are in agreement that climate change must not be ignored by the private sector.
“Can Australian economies afford the economic costs of companies not reporting on sustainability risks such as climate change?”
Finsia supports the recommendations of the Stern Report into climate change, and it plans to release economic modelling on the economy-wide costs and benefits of companies embracing sustainability risk reporting.
The Financial Services Institute of Australia (Finsia) has called for leadership from the business community to report sustainability risks and has suggested mandatory sustainability reporting to ensure business reduces its environmental footprint.
More than half of the Finsia members surveyed support mandatory reporting of sustainability risks, and nearly 90% believe the Australia Stock Exchange or ASIC should provide guidance on how companies can report on sustainability.
Finsia CEO Brian Salter says financial industry leaders are in agreement that climate change must not be ignored by the private sector.
“Can Australian economies afford the economic costs of companies not reporting on sustainability risks such as climate change?”
Finsia supports the recommendations of the Stern Report into climate change, and it plans to release economic modelling on the economy-wide costs and benefits of companies embracing sustainability risk reporting.