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Australian orgs partner to speed circular economy

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11 Dec, 2024

This post was originally published on Sustainability Matters

GS1 Australia has entered into a partnership with the Product Stewardship Centre of Excellence (the Centre) with the intention of speeding a transition to a circular economy.

The two not-for-profit organisations will pool their resources to foster innovation, enhance product stewardship and drive the development of sustainable practices across industries in Australia.

Peter Carter, General Manager of Public Policy & Government Engagement at GS1 Australia, said the two organisations wanted to provide practical tools and standards that improve and support accurate communication about products, services, places and people, across the entire product supply chain and life cycle.

“With over 85 active national collective stewardship schemes and individual business initiatives across 27 product classes, there is an enormous opportunity for Australian industry to leverage current supply chain data collection and communication processes,” Carter said. This includes reducing the use of harmful plastics, improving product and materials recovery, and streamlining business and regulatory processes.

“GS1 Australia’s product and location registries, along with global open standards, play an important role in managing information about products and their supply chains. Accessing and sharing this information with product stewardship initiatives is critical given Australia’s appetite for imported manufactured goods and our reliance on export trade,” Carter explained.

Rose Read, Director of the Product Stewardship Centre of Excellence, said the Centre welcomed the opportunity to partner with GS1 Australia in creating awareness and greater consistency in capturing and sharing product and supply chain data to accelerate the establishment, implementation and effectiveness of product stewardship schemes in Australia.

Dharshi Hasthanayake, Manager of Sustainability and Circularity at GS1 Australia, added, “We are looking forward to working with the Centre on initiatives that promote best-practice data collection and sharing, to support long-term circularity throughout the entire product life cycle.

“The partnership supports a shared commitment to environmental responsibility and the leadership role that business and government can play. We have mutual goals to create lasting positive change for our industry, our communities and the planet.”

Image credit: Australian Bedding Stewardship Council.

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Government consulting on sustainable investment labelling

Government consulting on sustainable investment labelling

The Australian Government is starting consultation on sustainable investment product labelling, which is designed to give investors more confidence to put more capital to work in sustainable products.

The federal government said the release of this paper is a key step in implementing its Sustainable Finance Roadmap — designed to help mobilise the capital required for Australia to become a renewable energy superpower, modernising the financial markets and maximising the economic opportunities from net zero.

This consultation paper seeks views from investors, companies and the broader community on a framework for sustainable investment product labels.

These labels are designed to help investors and consumers identify, compare and make informed decisions about sustainable investment products to understand what ‘sustainable’, ‘green’ or similar words mean when they’re applied to financial products.

The government said a more robust and clear product-labelling framework will help investors and consumers invest in sustainable products with confidence and help tackle greenwashing.

This phase of consultation will run from 18 July to 29 August and help the government refine its design principles for the framework.

The consultation paper is available on the Treasury consultation hub.

Image credit: iStock.com/wenich-mit

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