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Page 2 - Blogs
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ASIC Chair Joe Longo views ESG as a transformative force in financial markets, urging companies to prepare for mandatory climate disclosures and embrace transparency.
Joe Longo, Chair of the Australian Securities and Investments Commission (ASIC), has consistently emphasized that Environmental, Social, and Governance (ESG) reporting is not a passing trend but a “megatrend” reshaping corporate accountability and investor expectations. Here are the key takeaways from his recent speeches and public statements:
ESG as a Seismic Shift
● Longo calls ESG “one of the most significant changes in financial reporting in a generation”, especially as Australia moves toward mandatory climate disclosures.
● He warns that more than 6,000 Australian companies will soon be required to include climate-related disclosures in their annual reports, aligning with global standards like those from the ISSB. -
The choices we make today – on how rapidly we cut climate pollution over coming years – will determine exactly how dangerous our future becomes. The Australian Government’s national risk assessment outlines the worst risks that Australia faces, from extreme heat, to flooding and drought, into the future. The only solution is to rapidly slash climate pollution from coal, oil and gas, and replace energy sources with clean alternatives.
The report comes as the Australian Government sets a 2035 climate target. In doing so it is making a choice on how much harm to Australia it is willing to accept, as Australians experience increasingly catastrophic impacts on our way of life.
This briefing paper explains the National Climate Risk Assessment (NCRA) in context, and summarises its key findings.
This summary was prepared based on the NCRA Overview. Climate Council researchers will analyse the NCRA’s detailed technical reports over coming days.
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Australia needs new economic research to tackle the rolling challenges of trade tariffs, productivity slowdowns and climate change or risk living standards.
In a speech to mark the 100th anniversary of the Economics Society of Australia as part of the Australian Conference of Economists in Sydney, Reserve Bank deputy governor Andrew Hauser pointed to the challenges facing the economy.
Mr Hauser called the current issues “unprecedented” but pointed to the lessons of the past in helping Australia solve them.
“Indeed Australian macroeconomic research has pulled that trick off twice,” he said.
“First, powering the ideas that lifted the country out of the Great Depression to flourish after the Second World War.
“And, second, helping to design a reform program that rescued the country from the slump of the 1970s, and led to more than a quarter century of recession-free growth.
“Two Golden Ages, marshalling thought into action.”
Mr Hauser
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Australian telco Vodafone is alleging that competitor Telstra has been falsely claiming their network is larger than it is for average consumers and that they have been misleading Australians for over a decade.
Vodafone, owned by TPG Telecom, is alleging misleading and deceptive conduct by Telstra over 15 years and has made a complaint to the Australian Competition and Consumer Commission.
It all stems from Telstra's use of an "external antenna" to measure where they do and don't have coverage.
Vodafone suggests that by using such an antenna, they may be overstating the geographic reach of the Telstra mobile network by as much as 40 per cent.
"This is alarming. It appears Telstra has tricked Australians into paying top dollar for coverage they simply can't get on a regular mobile phone," Kieren Cooney from TPG Telecom said.
"We are shocked that Telstra appears to have been overstating its coverage by so much for so long and we are calling on them
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China puts its communications network to the test
Chinese researchers have subjected data link hardware to extreme conditions to test its resilience, the South China Morning Post reported. These tests not only exceeded existing military standards, but reflect China’s commitment to the robustness of its communications systems in critical situations.Evaluate the resilience of infrastructure
The simulations included scenarios such as nuclear explosions in the stratosphere, known as electromagnetic pulse (EMP) attacks. This approach aims to ensure that China's critical communications remain operational even in the event of a nuclear attack, strengthening its ability to respond in high-tension situations.Quantum technology and reinforced hardware
It also promotes the development of quantum communication systems and reinforces military hardware, with the aim of strengthening its infrastructure against possible crises and guaranteeing -
The Quarterly Trend Report: What CEOs Talked about in Q2 2024 is part of IoT Analytics’
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