Australian-first meeting of major banks and environmental regulators to develop best practice

In an Australian first, senior executives from the banking, finance and related industries will join environmental regulators at the Environmental Bankers Association of Australasia (EBAA) Roundtable in November. The aim of the event is to develop a practical, common framework and best-practice guide for environmental risk management for banks and financial institutions.

Representatives from Australia’s leading banks and financial institutions, along with executives from environmental specialists, will take part in the one-day event in Sydney on 16 November. For the first time, attendees will be able to discuss their approaches, and the key issues, relating to environmental risks directly with senior officials from regulators, both state and federal, in a ‘safe’ non-adversarial environment.

Banking and finance executives will be joined by members of the EBAA’s Advisory Panel, chaired by Dr Paul Vogel, Chairman EPA Western Australia. The Advisory Panel members are top-ranking executives representing state and Commonwealth regulatory and government bodies. The panel’s role is to provide perspective, advice and direction on current and future regulatory items of interest from the EBAA membership with regards to environmental issues and challenges in the banking and financial sector.

Chris Dyball, Chairman EBAA, said, “By the time most project financiers meet with environmental regulators it is often already in a hostile situation. No other event has been able to provide such a valuable opportunity to share best practice with peers and find out, direct from the horse’s mouth, what is going to cause issues with regulators and how to handle them.”

Dyball added, “We are committed in developing a common code of practice for how the banking and financial sector approaches environmental issues.”

The round table, which is open to members and non-members of the EBAA, will discuss both federal and state government policy and regulations for financial institutions affecting environmental risk, and look at the barriers to assessing risk as well as solutions for banks and financial institutions to effectively manage environmental risk.

In addition to Dr Vogel, other EBAA Advisory Panel members include Mark Gifford, Chief Environmental Regulator EPA NSW; Matt Vincent, Director Strategic Relations EPA VIC; Dr Gillian Sparkes, Deputy Secretary Corporate and Business Services Victorian Department of Sustainability and Environment; and Dr Martin Wardrop, Director Landscapes and Ecosystems Section Federal Department of Sustainability, Environment, Water, Population and Communities.