GOTHENBURG, Sweden,-- SKF is today launching a Green Finance Framework. By engaging in green financing, SKF's funding strategy will become more aligned with the Group's climate objectives, to reduce CO2 emissions from its own manufacturing and supply chain operations as well as supporting customers to reduce their emissions.

Within the Green Finance Framework, SKF intends to finance investments that support the transition to a low-carbon, climate resilient growth and lower environmental impact.

Niclas Rosenlew, senior vice president and CFO, said, "Sustainability is integrated into our strategy and business models. Our products help to reduce friction, energy and water consumption. Our offerings have always had an impact in these areas and by making sure our financing structure also contributes to a more sustainable world, we are taking the next step in our sustainability strategy."

SKF's climate objectives focus on reducing emissions across the entire value chain. With 2015 as the base year, SKF aims to reduce its CO2 emissions from manufacturing per tonne of sold bearings and transported goods by 40 percent, respectively. The group is well on its way to achieving these goals ahead of the target of 2025.

Niclas Rosenlew said, "We are currently making substantial investments in our own operations to increase flexibility, improve productivity and safety, as well as to decrease our environmental footprint. Our position within the cleantech field also enables us to contribute to the growth of industries such as renewable energy and electric vehicles."

SKF's Green Finance Framework follows the Green Bond Principles and the Green Loan Principles. The Green Finance Framework has been independently evaluated by the Center for International Climate Research (CICERO).

Within the Green Finance Framework, SKF's intention is to issue a green bond in the near future. The Green Finance Framework is available for download at https://www.skf.com/group/investors/green-finance-framework.

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ROBOTS invaded Brisbane’s southside today, but the students taking part in a Queensland Minerals and Energy Academy (QMEA) event at Yeronga State High School had them under control.

The students jumped into a Beakers.Bots.Build event, supported by the Society of Petroleum Engineers (SPE) and Queensland Resources Council (QRC) members. 

The workshop combined hands-on activities linked to engineering and the school curriculum with challenges based on chemical processing, robotics and programming, environmental practices and design.

“This is a great example of how real world skills can be implemented into classroom activities and a tip top way to welcome the students to the academy,” said QRC’s director pf education and skills, Katrina-Lee Jones. 

“Each task is designed to encourage students to pursue further studies in maths and science in preparation for a science technology engineering and maths (STEM) pathway,” she said. 

“It’s also an opportunity for them to see the wide variety of career pathways available to them in the resources sector, particularly through the lens of people working in the sector.” 

QRC is the peak representative body for Queensland ‘s resource sector. The Queensland resources sector provides one in every five dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 15,400 businesses and community organisations across the State, all from 0.1 percent of Queensland’s land mass. 

The QMEA is a partnership between the QRC and the Queensland Government under its Gateway to Industry Schools program. It has 74 schools throughout Queensland. 

www.qrc.org.au

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THE Financial Services Council (FSC) Guide on the Prevention of Elder Financial Abuse (The Guide) was launched today signalling an important step by the financial services sector towards ending the financial abuse of older Australians.

FSC CEO Sally Loane said caring for an ageing population presents society with a range of risks and challenges, and financial abuse of elderly citizens is an area becoming unacceptably prevalent in Australian society.

“The guide is a starting point for non-banking financial services organisations to identify, address and prevent the financial abuse of their older clients and customers,” Ms Loane said.

“It is vital that every sector of the wealth and asset protection industry, including those working in superannuation, advice, trustee companies and life insurance, are equipped with the guidance they need to navigate this complex but intolerable problem.

“Acknowledging the range of sensitivities with elder financial abuse, The Guide does not prescribe a one-size-fits-all framework, but rather sets out ways in which organisations can voluntarily adapt and employ aspects of best practice risk management strategies.

“Strategies range from developing protocols on how to respond to suspected financial abuse through to reviewing safeguards surrounding Powers of Attorney.”

Download a copy: https://fsc.org.au/resources/1874-the-fsc-guide-to-the-prevention-of-elder-financial-abuse-2019/file

About the Financial Services Council

The Financial Services Council (FSC) has more than 100 members representing Australia's retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks and licensed trustee companies. The industry is responsible for investing $3 trillion on behalf of more than 15.6 million Australians. The FSC promotes best practice for the financial services industry by setting mandatory Standards for its members and providing Guidance Notes to assist in operational efficiency. The FSC’s mission is to protect and enhance confidence in a strong, sustainable financial services sector that serves Australians with integrity.

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THE House of Representatives Standing Committee on Indigenous Affairs has launched an inquiry today into pathways and participation opportunities for Indigenous Australians in employment and business.

Committee chair Julian Leeser MP said Indigenous Australians often face tougher barriers when seeking employment or starting their own business.

"It is vital that we address this to ensure a more prosperous future for First Nations peoples," Mr Leeser said.

The committee will consult with a wide a range of stakeholders on proposals that will create better economic opportunities for Indigenous people.

"We will aim to speak with a range of stakeholders including First Nations people, Indigenous-owned enterprises, relevant peak organisations, as well as State and Federal policymakers and other people involved in employment services and small business lending," Mr Leeser said.

For more information about the inquiry, including its terms of reference and instructions on making a submission, visit the committee’s webpage.

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