ASIC’s Corporate Governance Priorities and the Year Ahead

ASIC’s Corporate Governance Priorities and the Year Ahead

For ESG investment managers with Australian products in their portfolios, ASIC notes the following about what lies ahead. Acknowledging that jurisdictions such as the UK and New Zealand move toward mandatory climate-related reporting for listed companies, ASIC “will engage closely with listed companies and investor groups throughout 2022 as the International Sustainability Standards Board climate standards develop”, will focus on greenwashing which it defines as “the potential for an entity to overrepresent the extent to which its practices are environmentally friendly, sustainable or ethical”, and is reviewing whether promoted ‘ESG’ or ‘green’ funds fulfill those labels. You can read the full speech by ASIC Chair Joe Longo here.