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ARTICLE · 01 OCTOBER 2024

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How will Australia's new sustainable finance taxonomy impact the mining sector?

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The Australian Sustainable Finance Institute (ASFI) is currently developing an Australian taxonomy.

AustraliaEnvironment
Tracey Greenaway
Tracey Greenaway
Anthony Lepere
Anthony Lepere
Jo Dodd
Jo Dodd
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Following the development of sustainable finance taxonomies in the European Union, ASEAN and other relevant markets, the Australian Sustainable Finance Institute (ASFI) is currently developing an Australian taxonomy. The taxonomy reinforces the Federal Government's ambition to drive a net zero transition both domestically and internationally through a variety of regulatory tools.

Designed to mobilise private capital towards sustainable economic activities that meet climate change mitigation objectives, the taxonomy is complex, evolving and will be subject to ongoing review. However, an opportunity exists now for mining sector participants to influence the types of minerals, activities and thresholds that will fall within the taxonomy and contribute to a workable framework.

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