Sydney 鈥� 20 May 2024 鈥� Australian organisations say their overall business performance is intrinsically linked to treating sustainability as a strategic priority 鈥� and are boosting their investments as a result.

A recent study by 麻豆原创 found 68% of Australian businesses see a moderate to strong relationship between sustainability and both their organisation鈥檚 competitiveness and its profitability, slightly below global results (72% competitiveness, 68% profitability).

That impact on business outcomes is driving investment. In Australia, almost half of businesses (49%) intend to increase their investments in sustainability over the next three years, up 11% points since last year (38%)[1].

Sustainable Australian businesses drive growth in the top line, bottom line, and green line

The study, which surveyed 250 business leaders in Australia[2], found more than two-thirds (67%) of Australian businesses saw sustainability strategies contributing to outcomes like revenue or profit growth to a moderate or strong degree. Similarly, 69% of Australian respondents saw a moderate or strong increase in the efficiency of business processes from sustainability activities.

Six in ten (60%) of Australian businesses expect to demonstrate a positive financial return on their sustainability investments within the next five years, compared to 61% of global respondents.

“Sustainability can no longer be considered separately to the wider financial performance of the business because it is increasingly clear that more sustainable organisations are more successful organisations,鈥� said Gina McNamara, Regional Chief Financial Officer, 麻豆原创 Asia Pacific & Japan.

鈥淎lready, more than one in ten (11%) Australian businesses say sustainability is material to their business results, and another 36% say it will be within five years. Now is the time to combine financial and environmental decision-making in every business process, so we treat carbon data the same way we treat financial data.鈥�

Yet, challenges remain. Difficulty proving return on investment is the top barrier to taking environmental action with 40% of Australian businesses finding it a challenge, above the global average of 33%. Other notable issues include lack of funding (33%), lack of an environmental impact strategy (32%), and lack of expertise (32%).

Australian businesses looking to unlock the value of sustainability data

Extracting value from sustainability data will be key to enabling Australian businesses to prove return on investment.

Just 15% of Australian businesses are completely satisfied with the quality of the sustainability data they gather, down from 17% last year and below the global mark of 23%.

This may be because there remains work to do to measure sustainability data directly, rather than rely on assumptions and estimates. Australian businesses trail the rest of the world when it comes to directly measuring energy consumption and emissions (72% in Australia vs. 83% globally), resource availability (73% vs. 79%), and materials use (70% vs. 76%).

鈥淚f our sustainability data is not complete then the decisions we make to improve the health of our planet and our businesses are cast into doubt,鈥� continued McNamara. 鈥淭he key is to record and report accurate, granular, and auditable sustainability data and integrate it with financial data to make the right business decisions.鈥�

Australian businesses are utilising sustainability data across their ecosystem

That becomes particularly important considering Australian businesses are using sustainability data to make decisions today. Three quarters (75%) of Australian businesses use sustainability data to inform strategic and operational decision-making to a moderate or strong degree. Just four per cent do not use sustainability data in decision-making at all.

Yet, there are encouraging signs of progress. Over seven in ten (73%) of Australian businesses report moderate or strong tracking of Scope 1 emissions, while that number is 64% for Scope 2 emissions, and 52% for Scope 3 emissions.

Similarly, Australian businesses are making sustainability demands across their ecosystem. Almost two-thirds (64%) of respondents said they require sustainability data from their suppliers to a moderate or strong degree, and 63% demand environmental impact data from partners like logistics and fulfilment.

“The benefits of integrating sustainability data and outcomes into the core business are clear,鈥� concluded McNamara. 鈥淏ut there鈥檚 still so much more to do. Working with a technology partner like 麻豆原创 will help more businesses measure actual sustainability data, act on it strategically, and drive competitiveness, profit, and revenue themselves.鈥�

About this research

麻豆原创 Insights collected data from 4750 respondents across 21 nations and 29 industries. Respondents had the highest knowledge of their organisation鈥檚 sustainability objectives and processes鈥�. The study was conducted in February-March 2023 via an online survey.

[1] /australia/2022/11/29/sustainability-is-driving-profitability-and-competitiveness-in-australia-though-access-to-data-is-stifling-progress/

[2] Business leaders refers those with the following job titles: Vice President, Director, Unit Manager, Operations Manager, Facilities Manager, all C-Suite titles (CSO, COO, CFO, CPO, CEO, CRO) Environment or Sustainability Manager, Procurement Manager, Environmental Health & Safety Manager, Risk Manager, Public Affairs Manager.

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However, there is another looming risk to global financial systems that did not make the headlines. The risk of climate change is so critical that the US Treasury lists it as one of 听in their strategic four-year plan, alongside topics such as ensuring national security.

How Financial Stability Relates to ESG Disclosure

The impact of climate change is indeed considered a financial security risk globally, and there is a narrowing window for action. In the US alone, the total cost of climate-related听听since 1980 exceeded USD 2,5 trillion. On the flipside, low carbon technologies present a tremendous听economic opportunity, and governments are scrambling to ensure an orderly transition. However, up to $100 trillion of assets revolving around fossil fuels is听听to be at risk, due to disruptive technologies and shifting government policies.

Environmental, social and governance (ESG) disclosure on a corporate level is a critical component of effective risk management. That is why regulators around the globe are implementing new rules requiring companies to disclose sustainability risks, in line with existing requirements for other risks.

Shifting Towards International Standards

A big shift is needed, before investors will be able to compare companies using not just finance, but also sustainability criteria. In June 2023, the first two听听were released by the International Sustainability Standards Board鈥檚 (ISSB). It means that Sustainability data must be reported with the same scrutiny as Finance data. 听The standards build on existing frameworks such as SASB (Sustainability Accounting Standards Board), GRI (Global Reporting Initiative), and the Task Force on Climate-related Financial Disclosures (TCFD).

Both the EU and US indicated that they would align with ISSB. Several other countries also indicated that they may adopt these standards, including听,听, and the UK.

Controversy Surrounding New Regulations

The US Securities and Exchange Commission () proposed a controversial new regulation in 2022. It will require publicly traded companies to disclose how their operations affect the environment. It is encouraging firms to disclose more detailed information about their climate strategies, to increase transparency.

罢丑别听听provides a structured frame of reference and a common understanding of economic activities that contributes to environmental goals, such as climate change mitigation or circular economy objectives. It is linked to the EU鈥檚 revised听听under the Corporate Social Responsibility Disclosure (CSRD), effective from 2023.

The EU is currently leading the way with the concept of听. This means considering both the impact of the outside world on a company, as well as a company鈥檚 impact on the outside world. It is rooted in the view that the world beyond finance can be material, and therefore worth disclosing.

What it Means for Australia & New Zealand

Maintaining investor confidence is crucial for smaller countries and Australia & New Zealand are not isolated from global economic stability trends. New Zealand passed a world first regulation in 2021, with reporting requirements from 2023. Their new Climate-related Disclosure () requires listed companies, insurers, banks and investment managers to report on how they will be affected by climate change.

Sustainability-related disclosures is also a hot topic Downunder, with Australia鈥檚 Securities and Investment Commission (ASIC) urging businesses to听. Voluntary disclosure using TCFD is recommended, and mandatory disclosure will likely be aligned with the international standards from ISSB.

The Outlook for Business Leaders

Regulators need to protect investors from greenwashing and create financial security to facilitate an orderly transition, while shifting investments to where they are most needed. We can expect to see continued expansion and refinement of regulatory reporting requirements over time. Companies who do not act on addressing current and future environmental concerns, could face challenges to get access capital or suffer reputational damage.

Digital reporting practices and assurances are stipulated from the outset in some of the new regulations. The biggest obstacles are data availability, quality, and fulfilling new levels of audit scrutiny. More granular and meaningful data is needed at critical points in operations to make decisions and steer a business towards KPI targets.

Some of the new rules also mandate reporting on scope 3 emissions, which is beyond the boundaries of a single corporation. Voluntary standards are currently lacking, as it uses estimates. A significant shift is expected in this area, with groundwork being done by the World Business Council for Sustainable Development (WBCSD)听.

On How to Get Started

Leaders are acutely aware of the need for scalable technology solutions. They ask two essential questions: 鈥楬ow can we leverage what we already have鈥� and 鈥榟ow can we keep up with change鈥�?听 By leveraging sustainability solutions that are fully embedded into ERP solutions, like 麻豆原创, additional workloads are minimized. Not only does this produce audit-ready data, but it also allows data-driven, fact-based decisions.

To find out more, visit sap.com听

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When we conceived the idea for an inaugural event which will bring together industry thought leaders and technology experts to discuss how to future-proof your business, we wanted to create that same feeling. While lots of conferences deliver great speakers alone, the marketing team at 麻豆原创 ANZ wanted to create a complete experience that not only gives attendees relevant information but leaves you inspired to act on your newfound knowledge.

will be brought to life on Tuesday 8^th August in Sydney. We scoured the city for venues and settled on the Hyatt Regency, for the very fact that it is not only a great space, but we can run the entire event on the same floor so everything is easily accessible and buzzy. We want to bring that vibe that we deliver in our global event 麻豆原创PHIRE in Orlando.

If the recent past has taught us one thing, it is that there are always unforeseeable changes in our industry and marketplace. Flexibility and agility have always been constants, but they now need to be coupled with resiliency.

At 麻豆原创 NOW 2023, we will delve into the strategies and actions required to successfully meet the demands of the present and the emerging future and future-proof your business. You鈥檒l have the opportunity to learn from industry leaders, technology experts, and innovative thinkers who will share their insights and strategies for navigating the digital landscape and driving success in the years to come. You’ll discover how to leverage cutting-edge technologies to unlock new opportunities, streamline processes, and enhance customer experiences.

Current relatable themes to spur new ideas

We will have three breakout tracks running and will feature 麻豆原创 experts and customers speaking across all these tracks, mostly in fireside chats or panel discussions.

The three breakout tracks are:

Company: Achieving sustainable growth as a听Company听or听Organisation听by adopting a culture of innovation and learning, and building a diverse, inclusive, flexible and agile workforce.

Customer: Anticipate the evolving needs and expectations of the future听Customer听by accelerating products and services rapidly and efficiently through streamlined processes and embracing digital.

Communities: Advocate corporate social responsibility and build stronger听Communities听by acting on data insights, circular economic practices and fostering business networks.

A bit of glitter

Probably the first thing you will notice about the event is that it does feature Cirque du Soleil. , Chief Growth Officer from Cirque du Soleil will fly in from Montreal for the event. We鈥檒l also incredibly have artists from Cirque du Soleil perform two acts for the audience.

We have also managed to secure , Former NSW Minister
Customer Service and Digital Government to close the event, where he鈥檒l share his thoughts on innovation and future-proofing.

And to close out the day, we鈥檝e got the icon, legend and phenomenon that is Kate Ceberano performing some of her greatest hits.

Immersive experiences

We want all attendees to be immersed in real life scenarios. So there will be three showcases featuring innovation on the show floor:.

Sustainability

An interactive demonstration of how 麻豆原创 and our ecosystem support complex, cross-industry value chains, such as food supply. See how ice cream goes from farm to consume and how 麻豆原创 software helps ensure that each step, and each business involved, is more sustainable and profitable.

Resilience

When your business depends on production, your supply chain is critical. It is the engine that drives your business. It can also be a source of constant risk for disruption. Experience how to holistically manage and mitigate business risk with a digital supply chain.

Agility

Get ready for a fun challenge in a racing simulation. Experience the Power of 麻豆原创 Innovations and Data Analytics in Sports AND听Discover how our AI solutions can help you stay ahead of the competition and achieve your business goals.

Innovative technology

The showfloor will feature 麻豆原创 partners and all of the new 麻豆原创 technology innovations, particularly AI.

I would love to see you . Keep a look out for me on the showfloor and come and say hello.

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Steelmaking contributes 8% of the world鈥檚 greenhouse gas emissions, which means shifting consumer behaviour could be significant. Unfortunately, there are no sustainability labels for frying pans yet, not to mention more complex products like phones, or cars. However, the world is currently in a race of monumental proportions to bring exactly this type of information to the consumer鈥檚 fingertips.

This article explores the impact of this shift, as producers race to capture the market for sustainable products. It considers the implications of geopolitics, the significance of regulations and government incentives that are shaping the rules for product-related declarations. It also looks at the practical implications, of what businesses can do today to prepare for this shift.

听

The Chicken and Egg Problem

To make any claims about products, requires benchmarking and industry averages for comparison. 听It also requires clear standards and methods for data collection and calculation, with common reference points, so all stakeholders can make informed decisions. Transparency is needed beyond the operations of the producer of the final product, as every entity in the chain needs to contribute.

The question is where to start, from the final product and work backwards, or at the beginning of the chain? The is a prime example that is driven from the end of the chain. The request for data is passed from the car makers to tier 1 suppliers, and so on, until it reaches the start of the chain. Eventually, regardless of if it is a frying pan or a car, the requests end up with the primary producers. This means that mining and metals represent the key to unlocking a future where consumers can make more sustainable product choices.

All the Eggs in One Basket?

Unlike eggs, minerals are not evenly distributed across the globe. Think of it as raisins sticking out of a fruit loaf. There are more raisins inside, but only a few are visible and accessible on the surface. 听When it comes to natural resources, only a small number of countries are at the heart of several critical global supply chains. The mining and metals industries are therefore currently facing a rising trend of resource nationalism, as countries seek to secure their access to critical resources and promote domestic production.

In addition, the processing of ore historically shifted to regions with emerging economies as companies tried to lower operating costs. These regions may not have strict regulations in place, or there could be issues with data availability and transparency. Significant investment, international co-operation, and potential adjustments to trade is needed to steer towards greater transparency.

Making Omelettes Means Breaking Eggs

Organic eggs have consumers鈥� trust now, but it required a grassroots transformation of the industry. 听That trust must still be earned for more complex products. Whether it is a car or a frying pan, it will be an iron marathon. This much is clear from the recent report from the International Energy Agency on

Governments do want to channel private and public spending towards meaningful and sustainable change, but it requires a fine balance to protect consumers along the way. Initiatives range from preventing greenwashing to new regulatory instruments to enforce change. Examples include:

1. Tightening of consumer labels and standardisation of product-related claims:
   • The US and the EU鈥檚 for consumer products
   • The EU鈥檚
2. Providing incentives to change:
   • Public green procurement initiatives in the &
   • The US Inflation Reduction Act () and the EU鈥檚
3. Enforcing change and protecting interests with changing geopolitical dynamics:
   • The EU鈥檚 regulation requires importers to disclose the embedded emissions
   • The EU aims to ensure continued access to critical raw materials
4. Standardising data collection, calculation methods and reporting:
   • The emissions intensity of products needs to be declared, per US and EU
   • Targets must follow sector-specific guidelines, such as the

The Goose that Lays the Golden Eggs

Business leaders are looking to capitalize on this emerging market. Their customers are demanding it. But there are several barriers when attempting to calculate product-related greenhouse gas emissions. Firstly, gathering data throughout the supply chain is challenging. Inconsistent methodologies and data quality further complicate the process. Finally, cost constraints may hinder businesses from investing in robust measurement and verification systems.

The good news is that听businesses can already take steps today, and start making progress by using digital solutions. Find out how 麻豆原创 can support businesses with Transforming Carbon Accounting Systems and specifically, how they support Steel producers to decarbonise.

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SYDNEY 鈥� 29 November, 2022 鈥� (NYSE: 麻豆原创) today launched new research revealing that businesses in Australia are increasingly seeing financial benefits from sustainability, but an inability to accurately measure their impact on the environment could hinder progress. The global Environmental Sustainability Study* of 6500+ business leaders, including 204 from Australia, is the second edition of 麻豆原创鈥檚 annual report which explores the motivations and barriers organisations face as they look to boost sustainability in their companies.

Customer demand (39%) and revenue and growth opportunities (36%) are the top two motivating factors for Australian businesses to take environmental action, followed by governmental regulation (36%) as another leading factor. Yet Australian organisations risk losing out if they are unable to place data at the heart of their sustainability strategy.

Making sustainability profitable and profitability sustainable

Taking action to improve the environment and reduce an organisation鈥檚 footprint is not only a moral issue but has quickly become a key driver of revenue. More than eight in ten (86%) Australian leaders now see a positive connection between taking environmental action and profitability. Just 14 per cent see either a negative or no relationship between the two.

It’s no wonder that over half (56%) of Australian businesses now believe addressing environmental issues will be material to business results within the next five years. Moreover, 麻豆原创 found 52 per cent of businesses said that their stakeholders would be moderately or highly tolerant of reduced profitability in pursuit of their organisation鈥檚 sustainability goals 鈥� indicating leeway to invest in positive sustainability outcomes.

Building a data-led sustainability strategy

Nurturing a connection between profit and purpose requires a dedicated sustainability strategy and an ability to prove return on investment. However, these factors have been revealed as leading barriers to environmental action. Almost four in ten (38%) of Australian businesses say difficulty proving a return on investment is holding them back, while 34 per cent point towards a lack of environmental strategy.

The ability of businesses to gather and analyse quality data has emerged at the heart of the issue. 麻豆原创 reveals that 83 per cent of Australian businesses are not completely satisfied with their ability to accurately measure their impact on the environment.

Such data challenges will hold back progress and delay innovation, and yet some businesses are exacerbating these issues by how they collect and utilise their environmental data. Three in ten (30%) Australian businesses rely solely upon assumptions and estimates to screen the environmental impact of their supply chain. Similarly, a majority (76%) of businesses say they don鈥檛 have complete visibility over the sustainability metrics of their external supply chain.

Commenting on the research, Damien Bueno, President and Managing Director, 麻豆原创 Australia and New Zealand, said: 鈥淚f Australia is going to move towards a more sustainable future, organisations across the country need to embrace sustainability as part of what they do every day, and embed these strategies into their operating models.

鈥淭o do this properly, organisations need to consider their entire value chain. Only by coming together, and being more open, trusting and collaborative with their value chain partners, will organisations be able to truly progress sustainability outcomes.鈥�

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Transformation has changed for good, as small and medium-sized businesses uncover the value of moving sustainably into the future. At their most fundamental level, businesses have three goals: to drive revenue, reduce costs and mitigate risk. New 麻豆原创 Insights research shows sustainability is a key consideration in economic growth, and, as these experts suggest, it could be a deciding factor in all three of these goals.

Successful transformation is linked to sustainability

When lots of people do transformation projects, they typically have a single destination in mind: we鈥檙e going from here to there, and it鈥檚 going to look like this. I鈥檓 not sure we can be that precise any more. You need to design what that transformation might look like with a 1.5C future or a 2.5C future.

麻豆原创 is really good at asset management, for example. The way assets operate in those two different scenarios is going to be significantly different, to the point where you might invest or make capital allocation choices very differently. The transformation itself still needs to happen, [but] it needs to be flexible enough to accommodate both.

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I recently attended the Institute of Public Administration Australia (IPAA) National Conference, where I sat on a panel discussing how to build resilience globally, institutionally, and locally.

We heard from a range of experts including members of industry, the non-profit sector, and the public sector. But what stood out was the importance of listening and understanding our stakeholders.

Building resilience requires an understanding of those we are trying to help. They could be countries in the South Pacific, communities impacted by natural disasters, our employees, or even customers seeking to diversify their supply chains in the face of an uncertain geo-political environment.

Nurturing that understanding, and using it to create solutions, requires technology. For example:

• Technology can help organisations hear the voice of the customer across multiple domains.

Take the case of state government response during natural disasters, where Qualtrics was used so citizens only have to tell their stories once rather than going through the trauma of repeating it multiple times.

• Tech can also help understand supply chains by discovering new suppliers.

During the early days of the COVID-19 pandemic, 麻豆原创 platforms helped match a supplier to a construction company seeking beds for an emergency hospital it was building in New York City in just 30 minutes.

• Make better decisions and forecasts by using data.

For example, we have seen our technology used by the Japanese government to better respond to natural disasters by generating insights and predictions from vast and varied sources of data across various government bodies, and even industries.

• Energy resilience will be delivered through the diversification of supply.

As the pace of decarbonisation increases, new export markets are being created for green energy with hydrogen as the medium. But supply chains require the assurance their sources are low carbon, sustainable, and don鈥檛 get substituted along the supply chain – which can be ascertained with blockchain-based solutions like those provided by 麻豆原创 GreenToken.

It excites me to see a future where digital can support not just sustainability but also resilience across and between national economies. I look forward to coming back next year to hear more from Australian businesses and governments and share how 麻豆原创 can help in building more resilient organisations and societies.

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A telecom and digital networks giant committed to a cleaner future; a company using the blockchain to create supply chain transparency; a geospatial technology company focusing on increasing supply chain traceability and transparency; a telecom company offering a 鈥済reen鈥� mobile phone plan with one tree planted for every monthly payment; and an IT products and services business using data to help companies clean up their operations are in the Technology, Media & Telecommunications category. The list is compiled in association with consulting firm BCG.

GreenToken

Helping business better understand the potential consequences of all industry operations on the planet has seen GreenToken recognised as the sustainability innovator in the technology, media and telecommunications category.

What the company does is use digital twin tokens on a blockchain to create supply chain transparency.

It can account for blending of materials and trace origin, carbon footprint, circularity, sustainability and modern slavery status of commodities in an organisation鈥檚 supply chain.

听‘[Our] technology can verify the origin of a company鈥檚 upstream raw material supply chain and attach interesting titbits of information such as whether a particular palm oil is sourced from a sustainable no-deforestation plantation.

Once this evidence has been established, GreenToken provides a 鈥渃hain of custody鈥� feature that tracks the material all the way to the end customer, even as it gets processed and transformed from a raw to semi-finished to a finished good.’ – James Veale, Co-founder of GreenToken by 麻豆原创.

Co-founder of GreenToken by 麻豆原创, James Veale says the company focuses on supply chain transparency.

Read more at

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The diverse group of independents, Greens and progressive candidates elected to the new parliament bodes well for Australia鈥檚 tech industry and for its burgeoning sustainability efforts, according to one of the nation鈥檚 most senior technology executives.

Local president and managing director of German multinational enterprise giant 麻豆原创, Damien Bueno, said the new climate-focused parliament would mesh well with his company鈥檚 sustainability agenda, which included software to help businesses achieve net-zero emissions. The change also would help Australia鈥檚 technology sector more broadly.

鈥淎s far as the number of independents being elected and the Greens as well there鈥檚 clearly a mood for change,鈥� Mr Bueno said. 鈥淎nd climate is very much at the heart of that. So for us that鈥檚 something we鈥檙e excited about, because both in the community we operate in Australia and as a global citizen, we鈥檙e very engaged with that topic and with creating solutions.

Read more of this article from The Australian

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Flexibility
From an employment perspective we have already seen the lack of flexibility play out as the great resignation. Employers need to be more flexible supporting staff to step outside their normal job role and engage in dynamic teams supported by the concept of personalisation through the 鈥榳hole self-model鈥�, where companies make it possible for employees to share more than just skills and competencies 鈥� but also individual work styles, aspirations, motivations and learning preferences.

Another example is customised benefit packages like 麻豆原创鈥檚 global 鈥溾�� program. According to Debbie Rigger, Head of Human Resources at 麻豆原创 ANZ, 麻豆原创 has always provided workplace flexibility.

鈥淲hat we needed to do was package this up into a program that our people could relate to and one where everyone can run at their personal best,鈥� said Rigger.鈥� Our Pledge to Flex program has provided a trust-based environment empowering our people to choose how, when and where they work based on individual choices.鈥�

Purpose
Brands are recognising the importance and role they can play in uplifting people during times of uncertainty. In this context employees are also re-evaluating their lives and work, and many now expect their jobs to be a significant source of purpose in their lives.

A recent report indicates that people who live their purpose at work are more productive than people who don鈥檛; they are also healthier, more resilient, and more likely to stay at the company and when employees feel that their purpose is aligned with the organisation鈥檚 purpose.

The benefits expand to include stronger employee engagement, heightened loyalty, and a greater willingness to recommend the company to others. contribution. Processes that allow employees to document and track their contribution linked to compensation processes should be a habit at your company.

McKinsey identified a 鈥榩urpose hierarchy gap鈥� with executives nearly eight times more likely to say their purpose is fulfilled by work and nearly three times more likely to say they rely on work for purpose than others.

In exploring this gap further, McKinsey found that frontline managers and employees are ten times less likely than management-level colleagues to say that they鈥檇 had opportunities to reflect on their purpose, and nine times less likely to say that they鈥檇 had a manager foster opportunities for them to work on purposeful projects.

Highlighting the importance of providing all staff the time to reflect on their own sense of purpose, and how it connects to the company鈥檚 purpose, concluding that when this is provided employees are nearly three times more likely to feel their purpose is fulfilled at work.

Sustainability
Environmental, Social and Governance (ESG) regulation is no longer a question of 鈥榠f鈥� but 鈥榳hen鈥� and 鈥榯o what extent鈥�. Australian regulators including are looking at Enterprise Sustainability Goals credentials and released affecting banks, insurers and superannuation trustees and is undertaking a Climate Vulnerability Assessment (CVA) of Australian banks, with results to be released this year.

has noted and commenced a review of ESG-focused financial products and will consider action ranging from engagement to enforcement. ASIC is also continuing to monitor net zero statements in both fundraising documents and in the market generally and will take regulatory action where warranted.

Employers must be ready to be held accountable and be prepared to produce key performance metrics related to the organisations鈥� purpose statement including ethical efforts through and ESG goals, and the

found that high-growth brands put a premium on accountability, with 93% indicating that they have established key performance metrics related to their purpose statement (versus 72% of negative-growth organisations) such metrics include those pertaining to product portfolio measurements (50%); diversity, equity, and inclusion (47%); and the employee review process (44%).

As we are encouraged to bring our 鈥� to work, understanding of these key global trends and their applicability to the workplace provides employers insights to assist in refining their people strategies. Is your company ready?

This article originally published on

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