The True & Fair Project Lands in Australia
SVI is thrilled to announce a partnership with Joint Member Network, SIMNA (Social Impact Measurement Network Australia), to bring the True & Fair Project to Australia. This marks a major step forward in our global mission to promote transparency and completeness in company accounts, by raising awareness of the true and fair requirement in the context of sustainability.
Why Australia? Why now?
As in many Commonwealth jurisdictions, the true and fair requirement is already embedded in Australian company law. The True & Fair Project aims to equip directors and financial officers with the tools to understand the true and fair requirement and what should be considered to ensure that accounts reflect the full picture of a company’s position and performance.
To support this, SVI has already begun research in collaboration with GAIL (the Global Alliance for Impact Lawyers), exploring how the true and fair requirement is interpreted across five key jurisdictions in the Asia-Pacific region. Alongside Australia, the research spans Japan, Hong Kong, Malaysia, and Singapore, building a clearer picture of how directors can (and should) use existing legal frameworks to bring relevant sustainability issues into mainstream financial reporting. This work builds on the legal opinion published in the UK and GAIL’s similar research across four European countries.
Australia also has a long-standing community of professionals committed to strengthening stakeholder accountability. With over 600 members brought together via SIMNA, we’re proud to be working alongside a network that not only understands the link between financial and stakeholder accountability, but has been actively building it for years.
Leading the effort locally are Simon Faivel and Laura Glynn, whose deep expertise in impact and social value practices makes them well placed to drive this next chapter forward.
Jo Fackler, Director at Social Value International and Lead of the True & Fair Project, says:
“We are so pleased to be launching the True & Fair Project in Australia. This is a particularly important moment, at a time where the initiative is gaining real momentum. Australia has the existing legal framework, a professional community and the appetite to lead on this, and we’re excited to see how the project takes shape here.
Simon Faivel, Founding Chair and now Co-Chair of SIMNA, says:
“SIMNA is delighted to be part of this global movement to reinforce, and evolve, the commitments, reporting and change companies need to make in our society. We look forward to working with a variety of partners to realise the vision of the True and Fair Project.”
What Australians can expect
The rollout in Australia will include:
A new True & Fair guide tailored specifically to Australian company and accounting law
In-person and online events that break down the true and fair requirement in a way that’s meaningful and practical
An online campaign to raise awareness and build momentum across finance, governance, and legal communities
Where else for the True & Fair Project?
Networks are already emerging in other regions across Asia-Pacific, South America, Europe, and Africa, as the True & Fair Project continues to build global momentum.
If you're based in Australia and would like to get involved, contact SIMNA here for more information. If you're curious about the wider project, you can contact SVI here.