Directors, senior executives have obligation to consider climate change: Norton Rose Fulbright
Apr21

Directors, senior executives have obligation to consider climate change: Norton Rose Fulbright

Board directors and senior management must give proper consideration to the risks of climate change, “with a view to ensuring that these risks are incorporated into strategic decision making, and appropriate consideration is given to the need for disclosure of relevant financial-related risks,” Norton Rose Fulbright said. Risks that companies should consider include transitional, reputation and physical, Norton Rose said. Norton Rose...

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ARENA commits $2.1 million to moveable SunSHIFT solar system
Apr21

ARENA commits $2.1 million to moveable SunSHIFT solar system

The Australian Renewable Energy Agency (ARENA) has committed $2.1 million of funding to deploy a moveable and modular solar system in New South Wales. ARENA’s recoupable funding support will aid in the deployment 1 MW of the “SunSHIFT” technology in Rutherford, NSW. ARENA has “supported the technology from inception to manufacturing and pilot scale demonstration through successive projects,” ARENA said. Laing O’Rourke developed the...

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Investa Commercial Property Fund Issues $100 million certified green bond
Apr21

Investa Commercial Property Fund Issues $100 million certified green bond

Investa Commercial Property Fund (ICPF) has issued a 10-year, $100 million Australian dollar green bond. The bond, which has a semi-annual fixed coupon of 4.25%, is rated A- by Standard and Poor’s and has been approved a Certified Climate Bond by the Climate Bonds Initiative. The proceeds will be used to retire existing deb facilities and will be fully allocated against a portfolio of low carbon buildings in the ICPF portfolio,...

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IGCC, AIGCC publish investor disclosure guide aligned to TCFD recommendations
Apr13

IGCC, AIGCC publish investor disclosure guide aligned to TCFD recommendations

The Investor Group on Climate Change (IGCC) and the Asia Investor Group on Climate Change (AIGCC – Asia) have published a new guide on climate change disclosure for institutional investors. The guide, Transparency in Transition: A Guide to Investor Disclosure on Climate Change, is aligned with the draft recommendations of the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures, led by Michael Bloomberg....

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Experts discuss impact of Taskforce on Climate-related Financial Disclosures guidelines
Apr07

Experts discuss impact of Taskforce on Climate-related Financial Disclosures guidelines

In the wake of public statements by the Australian Prudential Regulation Agency (APRA) regarding stress testing of climate risks by regulated entities, and give the consultation process to develop the draft recommendations by the Taskforce on Climate-related Financial Disclosures (TCFD), companies and stakeholders such as investors should consider the information that should be disclosed to give a view of climate risks and...

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Chart: CDP assessment of APRA-regulated entities’ climate disclosure
Apr07

Chart: CDP assessment of APRA-regulated entities’ climate disclosure

As APRA regulated entities digest the implications of Geoff Summerhayes’ recent speech, The Sustainability Report asked CDP for the scores of ASX-listed companies in the financial sector as a means to determine which companies are publicly disclosing their climate risks and opportunities, and how CDP rates the quality of their disclosure This information comes from CDP’s databases of responses for 2016. CDP grades companies out of 100...

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CEFC allocates $80 million to Bodangora wind farm
Apr07

CEFC allocates $80 million to Bodangora wind farm

The Clean Energy Finance Corporation (CEFC) has allocated $80 million towards the development and delivery of the 113MW Bodangora wind farm in regional New South Wales. The Bodangora project is being developed by Infigen Energy. Bodangora will include 33 General Electric (GE) 3.43MW turbines and is targeted to be fully operational in the second half of 2018. Bodangora wind farm will be built by a consortium comprising General Electric...

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CEFC appoints Ian Learmonth as new chief executive officer
Mar31

CEFC appoints Ian Learmonth as new chief executive officer

The Clean Energy Finance Corporation (CEFC) has hired Ian Learmonth as its new chief executive officer. Learmonth will succeed outgoing CEO Oliver Yates, and will join the CEFC on 15 May. Learmonth comes to the CEFC from Social Ventures Australia (SVA), where he is currently head of impact investing. SVA has strong crossover with the CEFC in areas of energy efficient affordable housing and the built environment, and Learmonth has also...

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