ESG and sustainability credentials

Page last updated: Friday, 4 August 2023 - 1:50pm

Please note: This content may be out of date and is currently under review.

Regulators, capital markets and consumers are increasingly demanding that corporate behaviour is ethical, transparent and leading the world out of the triple planetary crises of climate change, pollution and biodiversity loss. Major banks, retailers and the investment world are passing these demands through to business.

The challenges are enormous, but so are the opportunities. Few supply chains are truly sustainable – yet. That’s the future we are aiming for, and that’s why it’s important we work together on our sustainability journey.   

Sustainability Credentials

Being future ready means proving and improving your sustainability credentials. Start with what you already have, be transparent about your values, plans and achievements, and assess which sustainability options are right for your business. Certification systems can give trustworthy reputational boosts to your brand, but sustainability accreditations aren’t right for everyone.

When communicating your sustainability claims, identify the challenges that apply to your business and think about the work you are already doing—including supporting your local community and your environmental initiatives.

Greenwashing

Be aware of the risks of 'greenwashing'. The Australian Competition and Consumer Commission has published a green marketing guide for businesses about obligations regarding environmental claims under the Competition and Consumer Act 2010. The guide can help businesses to assess the strength of any environmental claims they make and to improve the accuracy and usefulness to consumers of their labelling, packaging and advertising. Eight principles to follow are:

  1. Make accurate and truthful claims
  2. Have evidence to back up your claims
  3. Don’t leave out or hide important information
  4. Explain any condition or qualification on your clams
  5. Avoid broad and unqualified claims
  6. Use clear and easy-to-understand language
  7. Visual elements should not give the wrong impression
  8. Be direct and open about your sustainability transition.

Support is available

The Department supports improved ESG in the agribusiness, food and beverage manufacturing sector to ensure these industries remain domestically and internationally competitive. Speak to our Investment Services team to find out how we can support your business to be future-ready.

Email: investment@dpird.wa.gov.au
Phone: 1300 374 731
Address: Level 6, 1 Nash Street, Perth Western Australia 6000

 

 

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