The Australian Sustainable Finance Institute (ASFI) has started the development phase of the Australian sustainable finance taxonomy with the appointment of its Taxonomy Technical Expert Group (TTEG). The group is comprised of 25 senior leaders, endorsed by the Australian Council of Financial Regulators’ Climate Working Group. The TTEG will offer strategic direction over, input into and endorsement of an Australian sustainable finance taxonomy that will be evaluated by the country’s government. The taxonomy is a joint government-industry initiative that aims to provide a common standard for green and transition finance that will assist in accelerating the allocation of capital towards sustainable activities to achieve Australia’s net zero goals. Guy Debelle, former Deputy Governor of the Reserve Bank of Australia, and sustainable finance taxonomies expert Emma Herd will Co-Chair the TTEG. Over the next 12 to 18 months, the TTEG will provide input into and final approval of climate mitigation taxonomy screening criteria for priority sectors, a methodology for incorporating transitional activities and associated technical work on data requirements. Kristy Graham, CEO at ASFI, said: “We welcome the deep expertise and diversity of skills and experience that TTEG members will bring to the development of a sustainable finance taxonomy for Australia. The strong pool of candidates applying for the TTEG, and the calibre of the group appointed highlights the level of interest in this work from across the finance sector.”
