ACCC releases draft decision proposing to authorise collaborations on sustainable finance initiatives

The Australian Competition and Consumer Commission (ACCC) has released a draft determination proposing to grant authorisation with conditions to allow the Australian Sustainable Finance Institute (ASFI) and industry participants to collaborate on sustainable finance initiatives for five years. 

ASFI is seeking authorisation for itself, ASFI members and other industry participants to exchange information to improve the integration of natural capital data into financial decision-making, co-designing investment structures and developing related regulatory reform proposals. Authorisation is also sought for some participants to agree to jointly develop and propose to Government or ASFI the most effective investment structure and/or product features to achieve sustainable investment products. 

The ACCC has made some amendments to the conduct to be authorised in its draft decision and is proposing to impose a number of conditions to limit any negative impacts. It will consider further whether additional refinements to the conduct are necessary before making a final decision.