Disclaimer
BY CLICKING ON “I AGREE”, I DECLARE I AM A WHOLESALE CLIENT AS DEFINED IN THE CORPORATIONS ACT 2001.
What is a Wholesale Client?
A person or entity is a “wholesale client” if they satisfy the requirements of section 761G of the Corporations Act.
This commonly includes a person or entity:
who holds an Australian Financial Services License
who has or controls at least $10 million (and may include funds held by an associate or under a trust that the person manages)
that is a body regulated by APRA other than a trustee of:
(i) a superannuation fund;
(ii) an approved deposit fund;
(iii) a pooled superannuation trust; or
(iv) a public sector superannuation scheme.
within the meaning of the Superannuation Industry (Supervision) Act 1993that is a body registered under the Financial Corporations Act 1974.
that is a trustee of:
(i) a superannuation fund; or
(ii) an approved deposit fund; or
(iii) a pooled superannuation trust; or
(iv) a public sector superannuation scheme
within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.that is a listed entity or a related body corporate of a listed entity
that is an exempt public authority
that is a body corporate, or an unincorporated body, that:
(i) carries on a business of investment in financial products, interests in land or other investments; and
(ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act 2001, the terms of which provided for the funds subscribed to be invested for those purposes.that is a foreign entity which, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.
Sustainable Investing
Sustainable Finance Action Plan
The Sustainable Finance Action Plan (SFAP) is a major policy objective by the European Union which aims to promote sustainable investment across the 27-nation bloc. Parts of it became effective from March 2021, with a longer timeline for the more complex new laws.
It was first laid out by the European Commission in March 2018 in response to the landmark signing of the Paris Agreement in December 2015, and to the United Nations 2030 Agenda for Sustainable Development earlier in 2015, which created the Sustainable Development Goals. It is also aligned with the goals of the European Green Deal, which aims to see the EU carbon neutral by 2050.
The plan is part of a wider Sustainable Finance Framework which is backed by a broad set of new and enhanced regulations. These include a new Sustainable Finance Disclosure Regulation, which aims to better classify the sustainability credentials of investment funds, and a new EU Taxonomy, which aims to define what economic activities are ‘green’ for the first time. The EU also plans to enhance the sustainability requirements of existing rules such as Mifid for financial disclosures and UCITs for fund registrations.
SFDR regulation
The SFAP has three main objectives:
To reorient capital flows towards sustainable investment and away from sectors contributing to global warming such as fossil fuels
To manage financial risks stemming from climate change, resource depletion, and environmental degradation
To foster greater transparency and long-termism in financial and economic activity in order to achieve sustainable and inclusive growth.
The scope of the regulation is very broad, and it applies to asset managers, pension funds, EU banks and insurers, among others. For sustainable investment, the plan aims to develop sustainability benchmarks against which investment strategies can be judged alongside the mainstream indices. It wants to better integrate sustainability into ratings and market research, and work towards clarifying asset managers' and institutional investors' duties regarding sustainability.
