In 2010 Australia introduced its new ethical disclosure requirements under the Financial Services Reform Act (FSRA). Issuers of financial products are obliged to disclose the extent to which “labor standards or environmental, social or ethical considerations are taken into account in the selection, retention or realization of an investment”. Product issuers are required to make two separate Product Disclosure Statements (PDS): the first on labor standard considerations, the other concerning environmental, social and ethical deliberations. The original Financial Services Reform Act 2001 was promulgated in March 2002, and requires fund managers and financial product providers to state “the extent to which labor standards or environmental, social or ethical considerations are taken into account in the selection, retention or realization of the investment”.
Environmental & Social
Industry sectors covered by the instrument
Organizations covered by the instrument
Large listed companies- issuers of financial products
Type of instrument
Mandatory or voluntary
The geographical scope