The Albanese government will draft new laws to regulate how investment products are labelled in an attempt to reduce unverified sustainability claims and ensure environmental credentials are comparable.The document flags lifting disclosure requirements for discussions pension funds are having with companies on the energy transition.
It wants to mobilise private capital for the transition at a time markets are focusing on sustainability issues beyond climate change and emissions. Treasury has also recognised the need to reform the Your Future, Your Super performance test which currently disincentivises long-term sustainable investment approaches.
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