The Edge Round-Up
Edge Impact
A global impact consultancy combining science, strategy and storytelling to reimagine sustainability for positive impact
In this edition, we explore key developments set to redefine ESG reporting and corporate practices in Australia and globally.?
With the recent passing of Australia’s climate reporting legislation and heightened scrutiny around greenwashing, businesses face growing pressure to align with new regulations.?
We also offer practical tools and insights to help your organisation stay ahead of these changes. Plus, catch up on the latest from Edge Impact, including exciting collaborations, and a newly published packaging guide.
A note from Alison Rowe
Edge Impact's Global CEO
The last month has been a pivotal one for sustainability. The passage of Australia’s climate reporting legislation marks a significant leap forward in financial transparency and corporate accountability.?
For businesses, this is more than just about compliance—it’s an opportunity to adapt business models for the future and lead the way in the shift towards a low-carbon economy. At Edge, we’ve been working in deep collaboration to ensure our clients and partners are prepared and positioned to lead.?
A challenge growing in urgency and accountability is greenwashing. As scrutiny around sustainability claims intensifies, and ASIC issuing the largest greenwashing penalty of $12.9m AUD, it’s essential for organisations to communicate their efforts transparently and credibly.?
Reflecting on recent milestones, I’m especially proud of our collaboration, The Art of Climate Change. This initiative has united diverse voices in a truly collaborative effort, and our partnerships with Greenhouse and Western Sydney University underscore our belief in collective action driving meaningful impact.?
As we continue to face the challenges and opportunities ahead, I want to thank you for being part of this journey. There’s so much more to come, and I’m excited to see the impact we’ll make together.
Kind Regards,
??News
Climate Reporting Legislation Passed by Parliament
On 9 September 2024, the legislation to enact Australia’s mandatory climate-related financial disclosure regime was passed by Parliament, which will be effective for financial years beginning on or after 1 January 2025.
As big as the change and the work that comes from this announcement will be, this is also a momentous moment for the transition to net zero.
This legislation will enable financial stakeholders and markets to be more fully informed of climate-related risks and opportunities and will ultimately support investment in creating a low carbon economy.
Described by ASIC Chair, Joe Longo, as the ‘biggest change to financial reporting in a generation’, we’re now seeing those who have been proactive already reaping the rewards, and those who have yet to start experiencing increased compliance costs and heightened risk.
Explore our resources on climate disclosure here.
For questions, contact Mark Siebentritt , our Global Climate Practice Lead.
?? +6141 860 3015
ASIC's Vanguard greenwashing action results in record $12.9 million penalty?
The Federal Court recently ordered Vanguard Investments Australia to pay a $12.9 million penalty for making misleading claims about environmental, social, and governance (ESG) exclusionary screens applied to its Ethically Conscious Global Aggregate Bond Index Fund.?
This decision underscores the growing scrutiny around greenwashing and the regulatory focus on ensuring accurate ESG disclosures.?
ASIC Deputy Chair Sarah Court noted that greenwashing poses a serious risk to the integrity of the financial system. The penalty, the largest issued for greenwashing to date, serves as a reminder for businesses to carefully assess their sustainable investment claims.?
At Edge, we specialise in supporting businesses to accurately communicate their sustainability efforts and avoid the risks associated with greenwashing.?
To help you navigate these challenges, we’ve developed the How to Communicate with Confidence Handbook. ?
领英推荐
The Taskforce on Inequality and Social-related Financial Disclosures (TISFD) has been officially launched?
The TISFD is a global initiative aimed at developing guidance for businesses and financial institutions to report on the impacts, dependencies, risks, and opportunities related to people. The aim of the Taskforce is to incentivise business and financial practices that create fairer, stronger societies and economies.?
Sharan Burrow, former General Secretary of the ITUC, remarked, "The TISFD has the potential to catalyse the shift to a fairer economy by enabling market participants to meaningfully report how they address human rights impacts and risks to the human rights of workers, communities and consumers. "?
Learn more about the TISFD here .?
???Edge Resources
The Future of Packaging?
In September, the Australian Government’s Department of Climate Change, Energy, the Environment and Water released a consultation paper exploring reforms to the packaging ecosystem, including mandatory design regulations and extended producer responsibility.?
Although each option’s mechanisms vary, the fundamental principles for improving our packaging value chain are consistent: better design, clearer labelling, and meet the recycled content threshold. Regardless of the reforms that are introduced, now is the time for brand owners to start preparing.?
Our expert team has co-authored a practical starter guide to help you navigate these changes.??
The Art of Climate Change?
Earlier this month, in collaboration with the Greenhouse , The Young and Resilient Research Centre, and Western Sydney University, we launched The Art of Climate Change, featuring 50 striking climate protest posters.?
Displayed just outside our coworking space, this work continues to inspire us daily. If you’d like to experience it yourself, book a viewing through Greenhouse.??
Now, we're calling on designers to submit artwork ideas to be featured in our space.?
Our Latest Work
We’re excited to share our recent case study with Flight Centre Travel Group .
In 2023, Flight Centre sought our help to articulate their sustainability journey and prepare for future reporting. We supported them in aligning with frameworks such as the ISSB, AASB climate standards, and GRI 3 framework.?
Explore how we helped them navigate these standards and lay the foundation for strong sustainability reporting.??
?? Connect with Us
If you have a problem you'd like us to solve together or if you just want to connect. We're always excited to hear from passionate people looking to make a positive impact.
You can email us at [email protected]
Or get in touch via our contact page.