BCSD Australia News

This week’s update spans critical pathways in sustainability - from new guidance that helps cities and regions set ambitious GHG targets, to a fresh e-course on fair recruitment practices that supports ethical supply chains. We also spotlight WBCSD’s upcoming Asia-focused webinar on halting nature loss, the A-Track project’s solutions for integrating nature in business strategies, and renewed calls to keep the EU’s Green Deal momentum alive. In addition, discover how AI-driven data analytics can enhance transparency in sustainability reporting, and learn why GRI is urging the EU to uphold double materiality principles.

Sign up for ESG Snapshot, a concise weekly update for C-suite executives and sustainability and climate professionals in Australia produced by the Business Council of Sustainable Development Australia.

Cities, states, and regions play a key role in driving global climate action. The Integrity Matters: GHG Target Setting for Cities, States and Regions draft report provides a roadmap for setting credible, high ambition emissions reduction targets. Your feedback will help ensure this guidance is actionable and applicable across diverse contexts. ?

?? CDP invites you to share your perspectives to help shape this guidance. Complete the survey today!

?? Survey Link: https://ow.ly/XLKy50UeXPO

?? Report Link: https://ow.ly/4yxF50UeXPP

New e-course on #FairRecruitmentPractices is now live on the #WBCSDacademy! This?interactive e-learning program helps employers of all sizes and sectors implement mitigation and remedy measures to address risks faced by migrant workers.

Containing?6 interactive modules, taking?approximately 30 minutes each to complete, the?Fair Recruitment Practices #training provides practical recruiting steps for companies to apply when engaging with their suppliers, service providers, subcontractors, and other actors in the supply chain.

By completing the course, participants will:

?? Gain a deeper understanding of the #FairRecruitmentToolkit (collective open-source guidance originally developed under the Business for Inclusive Growth – B4IG initiative.

?? Learn how to implement tools and operationalise strategies for ethical recruitment.

?? Contribute to the development of fair recruitment practices in their organisations and supply chains.

Developed by VINCI and WBCSD in collaboration with Control Risks, the e-course is informed by the ILO Fair Recruitment Principles, IOM Guidance, Dhaka Principles, and businesses’ best practices, including a compilation of 14 operational tools.

Register free now and access the course: https://lnkd.in/dJT9janu

?? Australia’s Job Market Shifts – What Business Leaders Need to Know

The Australian Bureau of Statistics reports a rise in unemployment to 4.1% in January 2024, up from 3.9% in December. This signals a softening labour market, with key implications for business strategy, compliance, and workforce planning:

?? Employment fell by 11,000, while the participation rate increased to 66.8%, meaning more Australians are actively seeking work.

?? Underemployment rose to 6.5%, highlighting the growing number of part-time workers looking for additional hours.

?? Economic and seasonal factors continue to shape labour market shifts.

?? Full ABS Report: https://lnkd.in/g3H39yw3

?? Key Business Implications

1?? Workforce Planning & Hiring Trends

?? A larger talent pool presents both an opportunity and a challenge—businesses must compete for top talent while balancing cost constraints.

?? Wage growth may stabilise, impacting hiring budgets and workforce expectations.

?? Solution: Invest in targeted reskilling programs to build internal capability and future-proof operations

.2?? Financial & Compliance Risks

?? The Reserve Bank of Australia (RBA) may interpret this as labour market cooling, influencing future rate cuts.

?? Fair Work compliance, modern slavery reporting, and ESG-linked workforce policies are increasingly under scrutiny.

?? Solution: CFOs and legal teams should review wage structures, workforce contracts, and supply chain due diligence.

3?? Consumer & Market Outlook

?? Rising unemployment may weaken consumer spending, impacting retail, services, and discretionary goods.

?? Sectors tied to employment trends—including property, lending, and infrastructure—must prepare for potential demand shifts.

?? Solution: Adjust pricing, supply chain, and investment strategies in response to consumer confidence fluctuations.

Workforce Sustainability & ESG Accountability considerations

?? Living Wage & Fair Work – Are businesses aligning wages with cost-of-living realities?

?? Just Transition & Reskilling – How are companies supporting workers in transitioning industries?

?? Labour Compliance – Are legal teams prepared for modern slavery audits and workforce accountability standards?

?? Solution: Businesses should adopt Just Transition frameworks to strengthen ESG performance and regulatory compliance.

So what are the issues for:

?? Business Leaders & CFOs – How are they adapting hiring and wage strategies?

?? Legal & Compliance Professionals – What risks do they see in Fair Work audits and modern slavery compliance?

?? Sustainability Advocates – How can businesses lead in workforce resilience & equitable employment?

?? How can businesses in Asia take meaningful action to halt and reverse #NatureLoss?

In partnership with WBCSD – World Business Council for Sustainable Development, this webinar will help attendees to understand why Asia-based businesses must take real steps to protect the environment, as well as inspirational examples of companies who are leading in this area.

Speakers will include Business for Nature CEO Eva Zabey, and our Business Action Senior Manager, Michael Ofosuhene-Wise, as well as Joe Phelan (WBCSD), Ria Bakshi (ofi), Ankit Todi (Mahindra Group), Alvin Lai (TCC Group Holdings(台泥企業團)), and Martina Beshparova (McKinsey & Company).

?? 17 March, 15:00 (SGT)

?? Sign up here: https://lnkd.in/gTzFfhqz

What’s stopping businesses from integrating nature into decision-making?

A new report from the A-Track project, developed by WBCSD – World Business Council for Sustainable Development with support from Capitals Coalition and other partners, explores the biggest barriers and opportunities for businesses embedding nature in their strategies. Based on insights from 84 business leaders and stakeholders, the findings highlight key challenges:

?? Two-thirds of businesses now have a nature strategy, but their approaches vary widely.

?? Data gaps and a lack of sector-specific insights make informed decision-making difficult.

?? Few companies use tools like footprinting and life cycle assessments, though interest is growing.

?? Strong leadership and collaboration across departments are essential for success.

The A-Track project aims to bridge these gaps by building business capacity, improving tools, and fostering collaboration across sectors to help drive a truly nature-positive economy.

Read the full findings and recommendations: https://lnkd.in/eKczPAij

The Taskforce on Nature-related Financial Disclosures (TNFD) has released draft sector guidance on marine transportation and cruise lines. Key elements of this consultation include:

- Guidance on applying the LEAP approach (Locate, Evaluate, Assess, and Prepare) to sector-specific operations- Proposed sector disclosure metrics tailored to marine transportation and cruise lines

- Dependency and impact matrices to identify potential material interactions with #nature

- Illustrative lists of #environmental assets, #ecosystem services, impact drivers, risks, opportunities, and response actions

The Business Council for Sustainable Development Australia regards this consultation as pivotal to promoting #sustainable and resilient maritime operations. We will be submitting a formal response, reflecting the collective insights of Australian businesses committed to sustainability.

You can find more details about the consultation here: https://lnkd.in/g-WDQ85U

?? Remaining competitive is fundamental to Europe’s future. And implementing the European Green Deal is the best mechanism to get there. Climate change and its costs to the economy are real and set to soar.

Brussels is under pressure to curb its green agenda, but, as We Mean Business Coalition argues in a new piece for Reuters co-authored with Lindsay Hooper, CEO of Coalition partner Cambridge Institute for Sustainability Leadership (CISL), slashing sustainability regulations in the name of growth is a false economy.

The Green Deal was never just about climate – it is the EU’s de facto growth strategy. The global economy is shifting and those who lead the clean energy transition will shape the industries of the future. The EU must decide whether it wants to be in the game or watching from the sidelines.

Read in full here: https://lnkd.in/eXnHm2jz

There is an urgent need for climate finance to support urban infrastructure projects globally.

CDP has just released its 2024 Global Snapshot, developed in partnership with the Global Covenant of Mayors for Climate & Energy (GCoM), an in-depth view of disclosure from 611 cities. Across 75 countries, these cities disclosed 2,508 climate-related projects through CDP-ICLEI Track in 2024, with a total investment requirement of US$86 billion. This snapshot captures critical data points on cities’ investment priorities and current barriers to implementation.

Cities need finance to unlock their full climate potential. Explore the 2024 snapshot here: https://lnkd.in/epXzaAdb

How can #AI and data analytics elevate #sustainabilityreporting? ??

As the Global Reporting Initiative (GRI) 's recent research paper, "The Impacts of #Digitalization: Identifying Emerging Challenges & Opportunities for Sustainability Reporting", explored:

? Better data supports better decisions: digital solutions can lead to more accurate and timely sustainability metrics.?

? Transparency boost: enabling?real-time data sharing supports increased stakeholder trust.?

? Proactive risk management: advanced digital?analytics help predict and prevent risks.

As GRI's analysis concludes, by?making the most of?new?technology, organisations can?ensure more reliable and actionable sustainability reporting???

?? Read more ?? https://lnkd.in/dDevdi_w

???GRI has urged the EU to maintain the #doublemateriality principle - with reporting that addresses impacts, risks and opportunities - at the heart of the Corporate Sustainability Reporting Directive (#CSRD). ?

Writing to European Commission President Ursula von der Leyen, Vice-President Stéphane Séjourné and Commissioners Valdis Dombrovskis & Maria Luis Albuquerque??? GRI’s newly-appointed CEO Robin Hodess outlines how double materiality?strengthens Europe’s competitiveness and delivers the decision-useful data required by investors and other stakeholders. ?

Robin said????“The EU has been a driver of high-quality #sustainabilityreporting standards. Maintaining this leadership is crucial for achieving global convergence, a level playing field, and meaningful impact. Dropping double materiality would set Europe back to 2014, before the NFRD. We strongly urge the Commission to maintain double materiality and alignment between the #ESRS and international standards. Any dilution would undermine global comparability and hinder informed capital allocation.” ?

Read the letter in full??? https://lnkd.in/dnAqxCDr