Description of Conduct
On 26 November 2024, the Australian Sustainable Finance Institute Limited (ASFI) lodged an application seeking authorisation for itself, its members, other participants and government bodies to engage in discussions, exchange information and where reasonably necessary in relation to sustainable finance solutions, make or give effect to limited contracts, arrangements or understandings in order to:
- improve the integration of natural capital data into financial decision-making
- co-design and test market appetite for sustainable finance solutions that contribute to the energy transition or other environmental and/or social objectives; and
- identify and propose reforms to regulatory impediments to sustainable finance and investment.
ASFI is a collaboration between representatives of the Australian financial sector, civil society, academia and financial regulators. Authorisation was sought for a period of 5 years.
ASFI also requested interim authorisation at the time of lodging its application. On 5 February 2025, ASFI provided a letter to the ACCC varying its request for interim authorisation. ASFI provided further information in relation to its revised interim authorisation request on 21 February 2025.
On 7 March 2025, the ACCC granted interim authorisation, with a condition, to ASFI and ASFI member banks to discuss and exchange information solely for the purpose of developing proposals for reform for submission to Government to address constraints on sustainable finance and investment specifically, and only, in relation to regulatory capital requirements in Australia.
On 17 April 2025, the ACCC issued a draft determination proposing to grant authorisation with conditions.
On 13 May 2025, the ACCC updated the timeline for its consideration of the final determination. The ACCC determined, and ASFI agreed, to extend the period for the ACCC to make its final determination in this matter until 25 August 2025.
On 10 July 2025, the ACCC issued its final determination granting authorisation with conditions for 5 years, until 1 August 2030.
Copies of the ACCC’s final determination, draft determination, interim authorisation and the application for authorisation are available below.
Applicant(s)
- AUSTRALIAN SUSTAINABLE FINANCE INSTITUTE LIMITED