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Indigenous Business Australia (IBA) launched its first Environmental, Social and Governance (ESG) strategy with Aboriginal and Torres Strait Islander wellbeing at the centre of consideration – wellbeing of Country, culture and community.
The strategy outlines how IBA intends to move beyond the mandatory compliance and risk management requirements to incorporate, where possible, the lived experiences of Aboriginal and Torres Strait Islander people.
The extensive rights and interests of Aboriginal and Torres Strait Islander people over land and waters, and intrinsic understanding and cultural knowledge of the landscape, means they are best placed to protect and restore Country and build resilience to climate change as well as other systemic and societal issues.
Five priority areas are the focus for IBA’s ESG strategy including: 1) climate change and resilience, 2) customer and data security, 3) human rights and labour, 4) integrity and business ethics, and 5) lending and investing responsibly.
These areas closely align with the goals and objectives in IBA’s Strategy Towards 2028 and are areas that present significant risk and opportunity in the short and medium term.
The strategy also provides a structured, systematic, and strategic approach to emerging ESG-related compliance and reporting requirements for matters like modern slavery and climate risk.
IBA Chairperson Eddie Fry, a Dagoman man, comments about the organisation’s commitment to the integration of ESG principles to support the aspirations of Aboriginal and Torres Strait Islander people, their businesses, our co-investors, and the communities to whom we serve.
“Connection to Country, culture, and community are inherent to Aboriginal and Torres Strait Islander values, worldviews and genealogy, providing a blueprint for sustainable development.
“IBA knows and recognises the important and inseparable links between Country and Aboriginal and Torres Strait Islander people. It is our responsibility and obligation to care for Country to ensure sustainability for future generations.
“We are witnesses to the urgency for a coordinated national and global effort to improve monitoring, evaluation, reporting and rehabilitation across a range of environmental, social, and governance (ESG) areas.
“IBA began a rapid transition because we have a very important role and responsibility to facilitate access to finance and capital that allows Aboriginal and Torres Strait Islander people and communities to meaningfully participate in the changing economic and ESG landscape.
“We’re exploring new opportunities to invest responsibly alongside Aboriginal and Torres Strait Islander people in sustainable ventures.
“We must all continue to evolve our approach to incorporate environmental and intergenerational aspects into our overall impact.”
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
