Today the Albanese Labor Government is starting consultation on sustainable investment product labelling, to give investors more confidence to put more capital to work in sustainable products.
The release of this paper is a key step in implementing the Government’s Sustainable Finance Roadmap.
The Roadmap is all about helping to mobilise the capital required for Australia to become a renewable energy superpower, modernising our financial markets and maximising the economic opportunities from net zero.
This consultation paper seeks views from investors, companies and the broader community on a framework for sustainable investment product labels.
These labels will help investors and consumers identify, compare, and make informed decisions about sustainable investment products to understand what ‘sustainable’, ‘green’ or similar words mean when they’re applied to financial products.
A more robust and clear product labelling framework will help investors and consumers invest in sustainable products with confidence and help tackle greenwashing.
This is another practical step in the Roadmap to improve how we measure progress, manage risk, demonstrate results and mobilise the investment we need to reach net zero and other sustainability goals.
This phase of consultation will run from 18 July to 29 August and help the Government refine its design principles for the framework.
The consultation paper is available on the Treasury consultation hub.