Sustainable Finance

(Completed June 2019)

Re-engineering financial markets to deliver on Paris Agreement goals: Insights from the EU

  • Provide insight into extensive practical experience of incorporating climate change and sustainability into financial frameworks.
  • Learning of leading international examples of development and implementation of sustainable financial system frameworks.

For this project, Climate-KIC Australia engaged local and European experts to highlight alignment between financial and investment frameworks of Australia and the EU and to identify how the European sustainable finance effort can inform Australian action.

Read the final report

Re-engineering financial markets to deliver on Paris Agreement goals: Insights from the EU

  • Provide insight into extensive practical experience of incorporating climate change and sustainability into financial frameworks.
  • Learning of leading international examples of development and implementation of sustainable financial system frameworks.
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public events
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8

industry roundtables
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250+

participants

Why was this project needed?

Australia’s finance sector will be critical to a sustainable and resilient future for the country. Finance is a key lever for change, and plays a major role in shaping the world we live in. The sustainable development needs of Australia and the world require the active participation of the finance sector and represent a significant strategic opportunity.

What did the project set out to do?

For this project, Climate-KIC Australia engaged local and European experts to highlight alignment between financial and investment frameworks of Australia and the EU and to identify how the European sustainable finance effort can inform Australian action.

The two main goals we wanted to achieve were:

  • Introducing and explaining the EU Action Plan to the Australian financial and governmental landscape and
  • Comparing the European measures with the current Australian financial landscape and identifying where opportunities and risks exist for both policymakers and financial institution.

Why was this project needed?

Australia’s finance sector will be critical to a sustainable and resilient future for the country. Finance is a key lever for change, and plays a major role in shaping the world we live in. The sustainable development needs of Australia and the world require the active participation of the finance sector and represent a significant strategic opportunity.

What did the project achieve?

  • A series of public and invitation-only events in Sydney, Canberra and Melbourne with two leading European industry experts on sustainable finance targeting the Australia business/financial, governmental, regulatory and social sector, and
  • A research project (with UTS) to understand what this EU Action Plan might mean for Australia/help Australia unlock its sustainable finance potential.

Shortly after the conclusion of the expert tour, Australia launched its own business-led sustainable finance initiative, with support from leaders in the banking, investment and insurance sectors, resulting in:

  • Improved awareness, particularly among financial regulators, major financial institutions, industry groups and policy makers, of key programmes in development under the EU Sustainable Financial System adoption
  • Key decision makers appraised of key policy and regulatory requirements to facilitate an enhanced role for the financial sector in achieving sustainable outcomes.
  • Build relationships between Europe and Australia with the aim of enhancing bilateral action to boost the role of finance in achieving sustainability outcomes and highlighting European expertise

What did the project achieve?

  • A series of public and invitation-only events in Sydney, Canberra and Melbourne with two leading European industry experts on sustainable finance targeting the Australia business/financial, governmental, regulatory and social sector, and
  • A research project (with UTS) to understand what this EU Action Plan might mean for Australia/help Australia unlock its sustainable finance potential.
For any plan on sustainable finance to be effective a fully coordinated and multi-dimensional policy approach is essential – one that aims at synchronising changes in the financial system with the economy as a whole.
Michael Schmidt
Director, Deka Investment

Sustainable Finance team

Marian Schoen
Project Director European Union-Australian Climate Business Network

Marian is our National Director for the European-Australian Climate Business Network. Her career spans from executive management to program delivery, in government and higher education sectors. In this role, she advances partnerships, stakeholder engagement, and project development.

Kathy Verheyen
Lead - Innovation Projects Climate-KIC Australia

As senior project manager for the Materials and Embodied Carbon Leaders’ Alliance (MECLA), Kathy manages this national alliance to drive the reduction of embodied carbon in the building and construction industry. Kathy has worked across a range of projects involving large numbers of stakeholders, including the Climate Measurement Standards Initiative (CMSI), sustainable finance and the EU Green Deal. Before moving to Australia, Kathy worked for a senior lawmaker in Germany’s parliament and international development agencies in Europe and Asia.

Download the research report

Sustainable Finance-full

PDF 5 MB

Project partners

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