Articles by Amy Bainbridge and Nasteho Said

Australian Pension Fund Fined A$10.5 Million for Greenwashing

Australian pension fund Active Super has been fined A$10.5 million ($6.7 million) for making a number of misrepresentations about its environmental, social and governance credentials amid a regulator push to stamp out greenwashing. In June, the Federal Court found regulator …

Gender Pay Gap Endures in Australia’s Financial and Insurance Sectors

Pay for women and men at firms in Australia’s financial and insurance services sector remains among the most unequal, according to government data that was expanded to include the salaries of more workers and a deeper analysis of wages. The …

Australia Braces for Worsening Bushfires as National Park Burns

Fire restrictions are in place across the Australian state of Victoria as one of its most popular national parks burns and officials warn of potentially “catastrophic” conditions in some areas over Christmas. A large bushfire near the scenic Grampians National …

Vanguard Investments Fined for Greenwashing as Australia Eyes ESG Claims

Australia’s federal court has fined Vanguard Investments Australia Ltd. A$12.9 million ($8.9 million) for making misleading claims about a fund, the highest penalty issued in the country so far over greenwashing. In March, the court found the investment giant made …

Australian Pensions Industry Boosts Investments in Natural Catastrophe Reinsurance

The risks from the growing number of natural disasters offer Australia’s largest pension funds a chance to boost returns. Colonial First State, one of the nation’s biggest pension and wealth managers, is looking to add natural catastrophe reinsurance to its …

Update: Floods Strand Cows, Damage Crops as Wild Weather Hits Australia

Heavy rains and flooding across Australia’s southern state of Victoria has damaged crops and stranded cattle as a months-long run of wild weather on the nation’s east coast leaves a trail of destruction. Severe storms have lashed Victoria since October, …

Severe Storms Lash Australia’s East Coast, Killing 9 People

Nine people have died in Australia after severe storms lashed the nation’s east coast on Christmas Day and Boxing Day, with the Bureau of Meteorology warning there is a risk of more flash flooding even as the weather system moves …

DP World Attack ‘Stark Reminder’ About Prioritizing Cyber Spend: Australia Watchdog

Australia’s markets regulator wants companies and directors to prioritize cyber resilience, warning it will take action against businesses that fail to make reasonable investments to protect themselves. Australian Securities and Investments Commission Chair Joe Longo said this month’s cyberattack on …

Australian Companies Face New Liability for Nature-Based Risks

Australian companies and directors could face legal action if they fail to identify and account for nature-based risks, according to a new opinion backed by lawyers and environmental groups, released Thursday. Directors could be held personally liable for breaching their …

Australia’s Financial Services Firms Failing to Narrow Gender Pay Gap: Report

Australian employers are failing to narrow the pay gap between men and women, with finance firms among the worst offenders. Females earned 22.8% less than males, the first time that progress has stalled since the government Workplace Gender Equality Agency …