The Australian Competition and Consumer Commission (ACCC) has issued a draft determination proposing conditional authorisation for a five-year period, permitting the Australian Sustainable Finance Institute (ASFI) and a range of industry participants to collaborate on sustainable finance projects.
The proposal outlines a framework in which ASFI, alongside its members and other financial stakeholders, would be permitted to share data and engage in joint efforts to develop investment structures and regulatory proposals that support sustainability goals.
Key areas of focus include incorporating environmental and natural capital data into investment decision-making and designing financial products aligned with sustainable development outcomes.
The regulator noted the collaboration could help drive private investment into environmentally focused initiatives, such as low-emission agricultural practices and support for producers addressing international sustainability requirements. However, it also flagged potential competitive risks.
“We consider that the proposed collaborative conduct would increase the likelihood of greater investment in projects seeking to preserve Australia’s environment as well as cost savings and process efficiencies,” said ACCC deputy chair Mick Keogh.
To address the risks, the ACCC has included conditions in the draft that would regulate the types of information shared and set parameters around the conduct of the collaboration. The aim is to ensure transparency and mitigate any potential market distortion.
“With the proposed conditions, we are satisfied that the collaborative conduct is likely to result in public benefits that would outweigh any likely harm to competition,” Keogh said.
Submissions on the draft determination are open until May 2. A final decision will follow after the consultation period concludes.
ASFI operates as a cross-sector platform involving representatives from finance, academia, civil society, and regulatory agencies. Participation is open to financial institutions and service providers with an interest in advancing sustainable finance practices. The institute has received support from the Department of Foreign Affairs and Trade to attract private capital to development projects in the Indo-Pacific, as part of DFAT’s broader blended finance strategy.
In a related announcement, the ACCC also released a draft of its new merger assessment guidelines, which will guide enforcement under Australia’s updated merger control laws due to take effect on Jan. 1, 2026.
While the current legal test – whether a merger would substantially lessen competition – remains unchanged, the revised framework explicitly includes scenarios where market power is created, strengthened, or entrenched.
Commissioner Philip Williams said the updated guidelines aim to provide clarity for stakeholders.
The draft also outlined the commission’s intention to consider the cumulative effects of multiple acquisitions over a three-year period, an approach aimed at capturing the broader market impact of serial transactions.
The ACCC is accepting feedback on the merger guidelines ahead of voluntary notification arrangements commencing on July 1.
