10 things you need to know this morning in Australia James Hennessy
1.
Big corporates including banks, large mining companies and others will be asked to vaccinate their staff later in the year, as the rollout finally picks up pace. Australia currently lags behind other developed countries in vaccination, and state leaders including Gladys Berejiklian and Daniel Andrews say supplies are too low to meet demand.
2.
South-east Queensland has joined NSW, WA and the Northern Territory in the lockdown club as of today. People in 11 government areas (Noosa, Sunshine Coast, Ipswich, Logan, Redlands, Brisbane, Gold Coast, Scenic Rim, Lockyer Valley, Moreton Bay and Somerset) are only allowed to leave their homes for four reasons. You know the drill by now.
Image source: Getty Images
Investors are pushing Australia’s largest ASX-listed shares to disclose climate risks as investment firms are warned of reduced capital.
The push follows what has been described as a ‘coming of age’ for environmental, social, and governance (ESG) investing.
Heating up for ASX shares
Australia’s largest ASX shares may soon be forced to disclose climate risks by the Investor Group on Climate Change (IGCC), Principles for Responsible Investment, and Carbon Disclosure Project. Conjointly, the groups represent more than $2 trillion in assets.
Members of IGCC include the
Westpac Banking Corp‘s (ASX: WBC) BT management, and
Australia s 300 largest public companies will need to deal with climate change as a matter of priority or risk losing institutional investors Jack Derwin Sediment from the agriculture sector flows onto the Barrier Reef hurting the coral. (Jonas Gratzer, LightRocket via Getty Images)
Australia s largest companies will be required to be transparent about how they are managing climate change or risk losing institutional support, the Investor Group on Climate Change (IGCC) say.
Along with other investor representatives, the group is pushing to have mandatory reporting requirements for the entire ASX 300 within three years, as other nations have already done.
The groups say it must be a priority in order to manage investment risks, climate risks and maintain financial stability.
Climate Action 100+ First Ever Net Zero Benchmark Points the Way for Businesses to Align with Paris Agreement Goals
(Credit: Climateaction100.org)
In its first ever Net Zero Company Benchmark of the world’s largest corporate emitters, Climate Action 100+ defines key indicators of success for businesses to align with a net zero emissions future and the goals of the Paris Agreement.
While there is growing global momentum around companies making ambitious climate commitments, the Benchmark assessments show that companies still have a long way to go in delivering on these promises. Further, the assessments show that no company has fully disclosed how it will achieve its goals to become a net zero enterprise by 2050 or sooner, including short and medium-related targets for the next decade.
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