ENVIRONMENTAL, SOCIAL AND GOVERNANCE STATEMENT 2021-2025 - BACKGROUND DOCUMENT - Monash University
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OUR PROGRESS ENVIRONMENTAL, SOCIAL AND GOVERNANCE STATEMENT 2021-2025 BACKGROUND DOCUMENT MONASH UNIVERSITY ESG STATEMENT 4
OUR PROGRESS OUR PROGRESS
OUR PROGRESS GOVERNANCE INVESTMENT ABORIGINAL AND TORRES STRAIT
ISLANDER PEOPLES
A governance structure was established alongside Monash conducts its investment consistently with both
the announcement of the Environmental, Social and modern corporate practice and the UN Sustainable Monash is committed to fostering a society that respects
Governance (ESG) Statement to help embed ESG Development Goals. Reducing the carbon footprint of Aboriginal and Torres Strait Islander peoples, cultures and
principles across relevant areas of Monash University’s our investments is a core endeavour for Monash and knowledges, and works towards addressing the legacies
operations. was a principal driver behind the development of the first of the past.
Responsible Investment Statement. Since 2016, nearly
Oversight of this was given to the ESG Steering all rebalancing of the University’s investments has related Monash University’s obligations towards Aboriginal and
Committee, which was chaired by the Provost and made to improving the responsible investment credentials of Torres Strait Islander peoples of Australia are guided by:
up of senior leaders across the central portfolios and key the portfolio.
parts of the University. The Monash University Act 2009, which requires
Monash subsequently became a signatory to the UN- the University to use its expertise and resources
The Steering Committee has met periodically to monitor supported Principles for Responsible Investment (PRI) in to involve the Aboriginal and Torres Strait Islander
and guide implementation of actions to meet the ESG 2017. This requires the University to embed responsible people of Australia in its teaching, learning,
objectives, and reported annually to University Council investment action into its investment practices and report research and advancement of knowledge
on its progress. This included a “glossy” ESG mid-way annually on progress to advance its consideration of activities and thereby contribute to:
progress report that was published on the University’s responsible investment factors (including low carbon)
» realising Aboriginal and Torres Strait
website. Development of a final substantive report in 2020 into its investment strategies. The terms of reference for
Islander aspirations; and
was interrupted by the COVID-19 pandemic. the Investment Advisory Committee that oversees the
investment of surplus Monash funds were subsequently » the safeguarding of the ancient and rich Aboriginal
updated to reflect these commitments and responsible and Torres Strait Islander cultural heritage
investment became a standing item on the agenda for
The Indigenous Student Success (ISSP) program,
the Committee.
an initiative of the Commonwealth Government
which provides funding to universities to help
Further measures adopted by Monash to align its
students thrive and succeed at university
investments with responsible investment best practice and
reduce the carbon intensity have included: Monash University Enterprise Agreement (Academic
and Professional Staff) 2019, which contains clauses
Requiring that all fund managers employed reflecting the parties’ commitment to the principles of
by Monash are also PRI signatories Aboriginal and Torres Strait Islander self-determination,
social and restorative justice, and cultural affirmation
Investing in climate change solutions via
a low carbon global equities fund Universities Australia’s Indigenous Strategy 2017-
2020, which binds signatory universities to important
Directing investments into infrastructure funds
targets on Aboriginal and Torres Strait Islander student
which include renewable energy projects
participation, success and employment in universities
Investing in tailored portfolios which exclude exposure
The values and purpose of Monash University.
to coal, tobacco, uranium and cluster munitions
Monash University’s obligations under the UN
Utilising climate scenario modelling as part
Sustainable Development Goals also intersect with
of the Annual Strategy Review process
Aboriginal and Torres Strait Islander matters, through
Utilising independently assessed ESG star-ratings in an aspiration to uphold the Declaration on the Rights of
fund manager assessments and ongoing monitoring Indigenous Peoples.
Monash has greatly improved the environmental
Monash has the longest history of engagement in
sustainability of its investments. As of 2020, 85 per cent of
Indigenous education in Australia and was the first
its combined portfolios had strong responsible investment
university to have a dedicated Australian Indigenous
credentials. Investment performance has consistently
Centre – the Monash Centre for Research into Aboriginal
exceeded the targeted return of CPI plus four per cent per
Affairs, established in 1964.
annum over rolling 10 years.
1 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 2OUR PROGRESS OUR PROGRESS
This legacy continues through the Monash Indigenous Though enormously disruptive to much research, Monash institutes also make an invaluable contribution The Monash Sustainable Development Institute (MSDI)
Studies Centre, the William Cooper Institute and its COVID-19 showed the crucial importance of utilising to many of these outcomes. The Monash Sustainable is one of the leading institutes for engagement in
Indigenous student support team, and other Indigenous research and evidence to guide decision making, Development Institute (MSDI), for example, collaborates sustainable development and practice worldwide and
academic and research units established across the and provided new opportunities and impetus for with Medicine, Nursing and Health Sciences on a “Teach home to interdisciplinary platforms such as ClimateWorks
University since that time. The legacy of what we as interdisciplinary collaboration. The Melbourne Experiment, Green” Sustainable Healthcare Education program Australia, which are transforming society’s response to
a University contribute through our efforts to work with an interdisciplinary project studying the effects of the that equips students with skills and knowledge to the most significant environmental, economic and social
and for Indigenous communities, will be continued pandemic response on the functions of the city, brought foster sustainable practise in healthcare - a sector that issues today.
through the Indigenous graduates who are making together researchers across Monash to examine key historically has generated considerable environmental
outstanding contributions to Australian society through activities and elements of the urban environment pollution. MSDI also offers short online microcredentials More recently, the Monash Commission has been
service and commitment to Aboriginal and Torres Strait before, during and after the shutdown, with the aim for professional and continuing education on established to combine the expertise of Monash University
Islander people and communities. of developing new approaches for sustainable urban sustainability themes. scholars, eminent Australians, local and international
growth, emphasising social cohesion and environmental enterprise leaders, leading thinkers on future societal
conservation alongside economic prosperity. Significant advances in fostering environmental and challenges, and other groups with insights to share on
RESEARCH sustainability understanding are also being realised public policy matters critical to Australia’s future.
Monash has the most diverse research profile of any through the development of cross-faculty graduate and
TEACHING postgraduate courses. The Master of Environment and
Australian university, a great deal of which intersects with CAMPUS
environmental, social and governance themes and climate Monash Business School became a Champion School Sustainability, established in 2018, remains the only
mitigation. Since the first ESG Statement was launched, for the Principles of Responsible Management Education Master course in Australia to offer a program specialising Monash University’s first ESG Statement committed to
signature Monash projects that focus environmental and (PRME) in 2016, positioning it as an international leader in in sustainable development leadership. A new Master of reducing the carbon footprint of its campuses and achieve
social principles, such as Revitalising Informal Settlements responsible management education and engagement to Green and Sustainable Technologies will launch in 2021. net zero emissions in the shortest feasible timeframe. In
and their Environments and the World Mosquito Program, advance the UN Sustainable Development Goals. 2017 the Net Zero Initiative was launched, setting out how
have transformed to become global in scale and ambition, ENGAGEMENT the University would achieve net zero carbon emissions
attracting support from multiple international partners. From 2018 the MBS was awarded Advanced Signatory for Scope 1 and 2 emissions across all Australian
status, providing students priority access for internship Monash University hosts an array of internal capability campuses by 2030.
New initiatives have also emerged with the potential to and volunteer opportunities with the PRME Secretariat and external networks that make it ideally qualified to
reach similar scale and impact. In 2020, for example, the and UN Global Compact. While successful, PRME advance ESG principles, policy and action with world The approach for implementing Net Zero 2030 is based on
Securing Antarctica’s Environmental Future program – was not extended to disciplines beyond the MBS class expertise in health and wellbeing, smart healthy and strategies set out in ClimateWorks Australia’s Pathways
forecasting environmental change across the Antarctic to because of its limited suitability outside business productive cities, sustainable environments and resilient to Deep Decarbonisation report to adopt deep energy
secure the continent as a natural reserve – and Building management education. cultures and communities. efficiency programs, electrification of campuses to
4.0 Cooperative Research Centre – reducing waste and eliminate dependency on natural gas, on-site renewable
emissions from construction – were awarded tens of Outside PRME, Monash offers rich experiences at the Research and teaching programs contribute much of this energy generation and the transition to a 100 per cent
millions in funding. faculty level that focus engagement in sustainability and engagement, but a great deal of further activity occurs renewable electricity supply.
social justice matters. These include dedicated degrees outside these areas, spanning (for example) public
Pioneering research to transform society for the better (e.g. the Bachelor of Global Studies and the Graduate lectures, sporting and community events, art projects and Key infrastructure investments to date have included:
occurs across every faculty, from the Monash Energy Certificate in International Development Practice), as exhibitions, to consultation work for industry and not for
Institute to the Castan Centre for Human Rights; the well as specific units, e.g. units on the death penalty and profit organisations. More than 50,000 LED light upgrades, four megawatts
Centre for Development Economics and Sustainability environmental law in the Faculty of Law. of on-site rooftop solar, four electric vehicle charging
to the Turner Institute for Brain and Mental Health. The Building the strength and scale of our international profile stations, and one megawatt of battery storage;
Centre for Women’s Studies and Gender Research and the A very prominent and successful example, the Global and growing our enterprising capabilities and a culture
Ongoing electrification of essential services, including
Gender, Peace and Security Centre are building globally- Immersion Guarantee (GIG), is a funded international of collaboration are core goals for Monash. Our global
heating and cooling as well as upgrades to efficient
recognised, gender-inclusive research evidence to deliver experience for students in Arts and related double footprint, including physical locations in Europe and
electric heat pumps for hot water services in-line;
peace and security globally. Outside the faculties, the degrees. Supported by the New Colombo Plan, GIG Asia enables the formation of international partnerships
Monash Sustainable Development Institute, ClimateWorks participants visit one of five countries – China, India, unrivalled by other Australian institutions. Five all-electric, high-performance Net Zero Ready
Australia and the Monash University Accident Research Indonesia, Italy or Malaysia – to complete a fieldwork Buildings, two of which are Passive House certified;
Centre (MUARC) lead an array of programs to mobilise unit exploring the interlinkage of the environment, society Through the Networks of Excellence program the
Roll out of the Monash Microgrid at Clayton
communities and industry to adopt sustainable practice. and technology. University is partnering with leading institutions in North
campus to control energy use and ease
America, the United Kingdom and Europe. Monash
strain on the network during peak times.
University’s alumni community also contributes to
a network of expertise and collaboration that spans
Recognising that energy requirements will always exceed
the world. The Global Leaders Networks of alumni,
onsite generation capacity, Monash signed a power
established in eight priority locations worldwide, provide
purchase agreement with the Murra Warra Wind Farm,
our most successful international ambassadors the
which commenced operations in late 2019.
opportunity to help shape the future of Monash and
make a genuine impact for those who live in the diverse
communities we serve.
3 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 4OUR PROGRESS OUR PROGRESS
Monash was the first university globally to be certified MODERN SLAVERY GENDER EQUALITY To further advance gender equity within STEMM-based
under the Climate Bond Standard, raising $400 million careers, Monash became an inaugural Women in STEM
of funds for capital development. Assets certified under Forced or exploited labour and human trafficking violate Gender equity and a fully inclusive University are Decadal Plan Champion. Developed by the Australian
this standard have been third party verified and are basic human rights and dignity and are counter to Monash fundamental to Monash University’s strategy and vision. Academy of Science and the Australian Academy of
annually audited as industry best practice for zero carbon University’s values and principles. Monash supports all The University fosters an organisational culture that is Technology and Engineering, the Women in STEM Decadal
development. efforts to eliminate modern slavery and is committed to inclusive and in which all staff and students of all genders, Plan aims to improve women’s STEM participation and
delivering a robust, meaningful response to the Modern cultural backgrounds, faiths and heritages participate retention by removing barriers that women as well intersex
Despite considerable campus growth, Monash has Slavery Act. equally and are recognised and rewarded equally at all and non-binary individuals face in these disciplines. In its
improved the energy and carbon performance of levels. Equality and incusion are central to our pursuit public submission, Monash successfully demonstrated
its operations and is on track to achieve its 2020 As part of its reporting obligations under the Modern of excellence. how its gender equity, inclusion and diversity activities
targets, including: Slavery Act 2018, Monash must submit an annual align with the six opportunities identified in the
statement on the risks of modern slavery in its operations Monash University aspires to be recognised as the decadal plan:
40 per cent reduction in carbon emissions and supply chains, actions it is taking to assess and leader in gender equity in the Higher Education sector in
address those risks, as well as the effectiveness of Australia and internationally. In 2020, the Times Higher 1. Leadership and Cohesion;
10 per cent reduction in energy intensity (GJ/m2) those actions. Education Impact Rankings placed Monash 24th in the
world on gender equality, among the top four per cent of 2. Evaluation;
55 per cent renewable energy
The risk of modern slavery is endemic in many parts of institutions ranked. This achievement reflects Monash’s 3. Workplace Culture;
4MW of on-site solar generation the supply chain. Monash has well in excess of 10,000 longstanding commitment to advancing gender equality,
suppliers and the Modern Slavery Act’s obligations as well as strong institutional support for strategies, 4. Visibility;
The Monash Net Zero program has received global apply for every supplier the University engages. This risk programs and policies designed to foster an inclusive 5. Education; and
recognition for its leadership, being awarded the 2018 UN increases with the number of tiers in a supply chain, due workplace culture.
Momentum for Change Award. to reduced visibility at local level (e.g. where raw materials 6. Industry Action.
are harvested and the labour practices used to do so). Monash University’s Workplace Gender Equity Strategy
and its action plan articulate a range of proactive Against a backdrop of global upheaval due to COVID-19,
Significant work has been undertaken to develop measures to achieve set goals across the following areas: Monash has remained committed to supporting diversity
a Modern Slavery Program to support and deliver Monash and pursuing equity and inclusion. Guiding principles
University’s response to the Act, to actively address Leadership Accountability and actions were developed to help mitigate emerging
any risks of modern slavery in Monash’s operations and gendered impacts of the pandemic on staff and to
Women in Senior roles safeguard gains that had been made in retaining and
supply chains and to combat the significant issue of
modern slavery. Anti-slavery activity has been organised Women in Science, Technology, Engineering, supporting women and underrepresented groups within
into workstreams, spanning category analysis and specific Mathematics and Medicine (STEMM) the academy.
planning, supplier risk assessments, changes to supplier
Flexible Workplace
onboarding processes, and development of an external-
facing website. Compliance with the Modern Slavery Act Support for Parents and Carers
and updating on Monash’s response to modern slavery is
Pay Equity
now a standing item for the Audit and Risk Committee of
University Council.
Since joining the Science in Australia Gender Equity
(SAGE) Athena SWAN program in 2015, Monash has
Monash is a key member of the Australian Universities
made demonstrable improvements in advancing gender
Procurement Network (AUPN), the peak body for
equity in STEMM, where addressing women’s under-
university procurement, which is leading a sector-wide
representation is critically important for attracting diversity
program to reduce slavery risk. The AUPN has formed an
of talent, fostering innovation as well as role modelling for
academic advisory board to function as experts, advisers
students entering STEMM related careers.
and reviewers of anti-slavery activity. Three of the 12
board members are Monash academics, who have also
contributed greatly to development of the University’s
Modern Slavery Program.
5 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 6OUR PROGRESS WHERE TO NEXT?
WHERE GOVERNANCE Overall, examples from international best practice suggest
there is opportunity for Monash to better coordinate,
The ESG principles are underpinned by a set of values
that align with the values of Monash University, presently
Monitoring of environmental, social and governance
TO NEXT?
report on and celebrate its SDG performance at an set out in Focus Monash 2015-2020. In the next iteration
performance has matured significantly since Monash institutional level – particularly in view of the scale of the of that document, the ESG obligations must assume
University’s first ESG Statement. Much of this has been University and the diversity of contributions it makes. a very high priority for the University’s focus for the
driven by deepening understanding of the importance Monash is the Australia, New Zealand and Pacific next decade.
of climate and social concerns and how they underpin Regional Centre of the UN Sustainable Development
corporate responsibility. Solutions Network and host institution for internationally ESG principles and the values and policies and
recognised organisations such as MSDI and ClimateWorks procedures of the University have a cascading effect. In
Different parts of Monash report regularly on a range of Australia. The University is also deeply affiliated with meeting the values of one, the values of the others should
matters intersecting with ESG. Notable examples include leading Australian organisations such as Alfred Health and be met. It is essential, therefore, that they be consistent.
the United Nations Global Compact Communication on the Victorian Institute of Forensic Medicine, and partners An ongoing assessment should be made to ensure the
Engagement, the United Nations Principles of Responsible closely with international organisations such as the Bill University’s values and policies and procedures are
Management Education (PRME) Sharing Information and Melinda Gates Foundation, Asian Development Bank consistent with ESG principles.
Report, National Greenhouse and Energy Reporting, and Wellcome Trust, each of which make transformative
the University’s Annual Report to Victorian Parliament, contributions to global SDG practice. Furthermore, whilst the University expects that all its
and our reporting obligations under the Modern Slavery staff and students abide by and are committed to the
Act (2018), among many others. Much of this reporting Consultation with staff and students also suggest there University’s values and policies and procedures, so too
currently occurs in isolation, without coordination across is opportunity to foster broader awareness of, and should the University expect all with whom it engages act
the University. engagement with, the University’s ESG commitments. consistently with those values.
The United Nations Sustainable Development Goals It is important to note that ESG matters include
(SDGs) are becoming the new international standard investment considerations that lie outside the scope of the
INVESTMENT
for corporate sustainability reporting and there is 17 SDGs. Developing targets and reporting on institutional Public awareness of the role of corporate leaders to help
considerable overlap with the reporting activity relating to SDG performance would also require considerable solve urgent challenges such as climate change has
sustainability and social impact performance at Monash. endeavour by the University – there would be no grown considerably since our first Responsible Investment
Research by RMIT and the United Nations Association of advantage to introducing an SDG reporting requirement if Statement was prepared.
Australia shows SDG disclosures by the ASX150 improved it merely adds to the reporting burden. Nonetheless there
from 37 per cent of companies in 2018 to 48 per cent in is a clear risk for Monash if the University falls behind the The Net Zero Momentum Tracker, a 2020 report by
2019. However, the report also found quality of disclosure corporate sector and other universities in its sustainability ClimateWorks Australia with the Monash Sustainable
remains lacking, with few organisations linking business and social impact reporting. Development Institute, found that one in five
goals and targets with the SDGs.
superannuation funds surveyed had stated goals or
The Review regards the adequate collection of all data expressed aspirations to achieve net zero emissions
Fostering greater understanding of the SDGs, their and information of the University’s ESG activities as a very across their investments by 2050.
significance for communities with which we engage, high priority. The Review considers there must be fulsome
and how they align with our broader corporate social communication to the faculties about the importance and Monash makes no direct investments in its portfolios –
responsibility obligations is a challenge for the University. relevance of ESG reporting. The Review also regards the which are managed on its behalf by fund managers – and
training of faculty staff on ESG information identification, its investments, and hence influence is modest given the
As a 2016 signatory to the University Commitment to collection and reporting as very desirable. overall size of the funds being managed. As all industry
the Sustainable Development Goals, Monash University
participants are still working to define the methods and
agreed to report on activities in support of the SDGs. The Review considers ESG-related responses should products they will utilise to achieve net zero investment
At present the only voluntary reporting it undertakes is not be an additional burden imposed on faculties. Rather (or improved climate change) targets, it is challenging
for the Times Higher Education (THE) Impact Rankings, the ESG reporting process and its outcome lie at the for Monash to set a firm date to eliminate all carbon
which annually rank institutions on their commitment to, heart of the University’s operation. Accordingly, there emissions from its portfolios.
and progress towards, the SDGs. Monash ranked equal should be a reassessment of other reporting obligations
17th worldwide and fifth in Australia in the THE Impact imposed by the University on faculties with the intention The most immediate, effective means of reducing the
Rankings in 2020. of rationalising such reporting and realigning those carbon intensity of the University’s investments is by the
processes with the ESG process. In addition, given acceleration of decarbonisation at a broad industry level.
The University’s THE Impact Rankings assessment the centrality of the ESGs to the University’s operation, This includes working with fund managers to develop
was lower than would have been expected by Review indeed its existence, it is imperative there be adequate financial instruments to better enable that transition.
members in some specific areas, for example, in Gender resourcing across the faculties and the Chancellery for the
Equality and Peace, Justice and Strong Institutions. collection of ESG data. It should not constitute a further
The Review also noted that the THE Impact Rankings administrative burden.
assessment is highly competitive. It is a very significant
assessment given it reflects the University’s ranking,
which in turn impacts on student choice of university.
7 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 8WHERE TO NEXT? WHERE TO NEXT?
A standout example of how Monash is contributing ABORIGINAL AND TORRES STRAIT RESEARCH Hundreds of Monash researchers are driving energy
to this endeavour is the Australian Climate Transition ISLANDER PEOPLES innovation – spanning materials and devices, resources
(ACT) Index. Jointly developed by BNP Paribas with Amid a rapidly changing climate, an increasingly and processing, systems, data science and security,
ClimateWorks Australia and the Centre for Quantitative The Monash Aboriginal and Torres Strait Islander contested geopolitical landscape and other global markets and policy. Separate Monash teams have recently
Finance and Investment Strategies (Faculty of Science), Framework 2019–2030 establishes the University’s challenges, the demand for discoveries and innovations developed the world’s most efficient lithium-sulphur
the ACT Index is the first forward-looking index to identify commitment to making a leading national and that enable us to foster sustainable and inclusive battery and set a record for carbon dioxide capture using
companies likely to perform well in a world undergoing international contribution to Indigenous advancement over communities are becoming more pressing. nanocomposite metal organic frameworks (with CSIRO).
a 2°C transition and to continue to play a part of the the next decade.
Australian economy. Complex challenges such as these cannot be solved Recognition of the economic opportunities that clean
The Monash Aboriginal and Torres Strait Islander by any single discipline or field of inquiry; this is why and renewable energy innovation presents is accelerating
Climate change is now recognised as a financial risk by Framework comprises four framing pillars: interdisciplinary research has gained momentum. globally. Organisations that move early to capture this
Australia’s three peak financial regulators, the Australian The University’s Research Agenda 2020, a blueprint interest will have a commanding position in the new
Competition Consumer Commission, Australian Securities 1. Increasing the participation of and supporting for translating Monash discoveries into genuine and energy economy. All that is required is the leadership
and Investments Commission and Australian Prudential success in Indigenous students by working to relevant impact, articulated four key focus areas for and appetite for innovation capable of driving that
Regulation Authority. Considerable research indicates– remove identified barriers to study and creating clear interdisciplinary collaboration where Monash is able to endeavour forward.
and Monash University’s strong long-term investment pathway options for prospective Aboriginal and make a transformative contribution toward the most
performance demonstrates – that responsible investment- Torres Strait Islander students, as well as improving pressing challenges: AI and Data Science, Better A global climate emergency is unfolding and new
focused funds provide stronger returns than funds that Indigenous retention and completion for Aboriginal Governance and Policy, Health Sciences and Sustainable approaches are needed to solve it. Monash researchers
do not consider responsible investment factors. While the and Torres Strait Islander students once they arrive. Development. are pioneering many discoveries and leading innovations
investment industry is yet to offer a suitably diversified to meet those challenges.
2. Embedding Indigenous perspectives and content
investment product that guarantees net zero carbon, it is While there are numerous examples of interdisciplinary
into curriculum, equipping all Monash students
clear that the industry is moving quickly on this issue and research that fosters the kind of environmental and social
new methodologies and instruments will be in place in the
with an understanding of Indigenous knowledges,
impact to which Monash aspires, there is opportunity TEACHING
cultures and contemporary discussions relating
coming years that are capable of doing so. for the University to improve how it captures and
to Indigenous Australians and the historical and Amid the challenges of a rapidly changing climate, rising
communicates the way this research aligns with, and
contemporary issues in Australian society and beyond. inequality and an increasingly geopolitically contested
If Monash University is to be an international leader helps to progress, the Sustainable Development Goals.
region, the need to foster globally-minded leaders capable
driving change towards sustainability, it needs to be seen 3. Growing research contributions to address and serve of embedding sustainable and inclusive practice into
to support companies that are moving towards the net the needs of Indigenous people and communities. Decarbonisation through transitioning to renewables
our communities has grown more pressing. Growing
zero transition. Recognising the vital importance of Indigenous and clean energy is one of the most pressing global
our students’ awareness of and engagement with ESG
research as a responsibility to Indigenous Peoples challenges. Investment in R&D of low carbon technologies
principles is vital for this.
and a key contributor to reconciliation, as well as and clean energies is soaring worldwide. In late 2020
acknowledging the complex tensions and historical the Australian Government’s Technology Investment
While there are many ways for motivated and informed
abuses that Indigenous people and communities Roadmap identified five priority technologies for
students to engage in ESG matters through Monash
have experienced as the subjects of research investment: hydrogen, carbon capture and storage,
units and extracurricular programs (e.g. through the
that has been conducted on or about them. soil carbon, storage options and green steel and
Monash Sustainable Development Institute), the focus
aluminium production.
4. Upholding traditional knowledge and respecting remains narrow and at the unit level. There is no alignment
Indigenous students, staff and communities. across campuses, faculties and disciplines. There is
Monash is well placed to pioneer advances in this space.
Leveraging our experiences and resources clear opportunity for the University to promote greater
Monash is the first university to announce a 2030 net zero
to better involve Aboriginal and Torres Strait immersion in the Sustainable Development Goals and their
emissions target, the site of Australia’s most advanced
Islander Peoples in knowledge advancement importance for achieving healthy, flourishing communities.
microgrid platform, and hosts world class institutions
and decision-making activities to safeguard our
such as the Monash Energy Institute, the ARC Centre of
ancient and rich Indigenous cultural heritages. Monash has demonstrated in its short history an
Excellence in Future Low-Energy Electronics Technologies
extraordinary capacity to search out change and creativity.
A full description of the strategic priorities and ClimateWorks Australia. These strengths are further
The Review considers the ESG focus will perpetuate the
and measures for each of these four pillars is amplified through collaborations with government and
University’s excellent teaching reputation. Significant
contained in the Monash Aboriginal and Torres leading international industry partners such as the
differences apply between Monash degrees in the
Strait Islander Framework 2019–2030. Australian Renewable Energy Agency, CSIRO (Hydrogen
availability of ESG or SDG-relevant units for students,
to Energy Network), Engie and Indra.
with some faculties offering more opportunities than
others (not unexpected, given the different expectations
of students enrolling in different degrees). The Principles
of Responsible Management Education (PRME), though
invaluable for advancing ESG engagement in the Monash
Business School, have limited application across other
Monash disciplines, being tailored specifically for business
and management education.
9 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 10WHERE TO NEXT? WHERE TO NEXT?
One program aligning closely with PRME, the Global The University has sought to progress this by encouraging CAMPUS MODERN SLAVERY
Immersion Guarantee (GIG), has been shown to greatly activation of the Monash Technology Precinct surrounding
mobilise student activity in international environment, the Clayton campus as an ecosystem where globally As we continue to invest in our campuses, fostering Monash University’s commitment to addressing modern
social and sustainability issues, as well as improving connected change-makers, innovators and enterprise sustainability is key to ensuring we reduce our slavery risks and the breadth of work required to meet
education and employment outcomes for low socio- converge. This strategy has been very successful in environmental impact and establish our campuses as requirements outlined in the Modern Slavery Act are
economic and disadvantaged students. However, this is attracting international partners to establish a presence exemplars of environmental best practice. significant.
presently only available for students enrolled in Arts and within the Precinct, including leaders in health and energy
related degrees (e.g. Bachelor of Global Studies, Bachelor innovation. Dialogue has also been established with By 2046, Victoria is expected to produce 40 per cent In addition to the steps Monash has already taken to
of Politics Philosophy and Economics). Greater South East Melbourne to explore opportunities more waste than presently, adding strain to our waste and reduce the risk of modern slavery in its procurement
for collaboration on waste storage and waste to recycling systems, increasing landfill and generating more chain, a supplier Code of Conduct will be developed and
The ability to offer cross-taught sustainability and energy solutions. greenhouse emissions. template tender documentation and standard contract
social themed units is also limited for some disciplines, agreements will be revised and updated. The annual
particularly many health disciplines, where curriculum is However, there is evidence of a disconnect persisting Only around 10 per cent of plastics are recycled globally, Monash statement on modern slavery will be published
more tightly constrained by standards set by professional between the campus and the Precinct community, as prompting the United Nations to warn there will be more on internal and external sites, and will be recorded on the
accreditation bodies. Opportunities therefore need to be well as between different parts of the University about plastic than fish, by weight, in the oceans by 2050 unless Australian Government’s publicly available Modern Slavery
made available within existing elective spaces. the opportunities for engagement the Precinct presents. people change their habits. Offshore bans on import Statement Register.
It was noted that there were opportunities to improve of foreign recycling materials have led to a crisis in
The challenge of encouraging engagement in sustainability participation and engagement between the campus and Australia’s municipal waste systems, which have struggled An information bank of supplier data, as well as risk
and social justice learning is further compounded the Precinct. to cope with millions of tonnes of recycling waste. Glass, assessment and scorecard, are being developed by the
by financial disincentives that hamper cross-faculty paper and plastics intended for recycling has instead been Australian Universities Procurement Network (AUPN) to
collaboration. Under the current funding model, faculties Internationally, the review noted numerous examples of stockpiled or sent to landfill. create greater visibility across the supply base for the
are remunerated for taught load, which incentivizes them Monash leadership through cross-border partnerships university sector. Monash University’s Modern Slavery
to own teaching of every unit within a course, rather than and programs that advance environmental and social One of the most significant untapped opportunities to Program will incorporate these elements as appropriate.
encouraging placement of their students into a unit taught principles. This work could be amplified further through reduce waste in Australia is organic waste. Sending
by another faculty. Offering Monash-wide experiences the development of a Pacific engagement strategy. organic waste to landfill results in the loss of valuable Applying academic expertise and principles is invaluable
enables scale in such a way that overall costs are far resources and generates methane – a greenhouse gas 25 for development of the Modern Slavery Program and
lower than the costs associated with a proliferation of Many of the environmental and social challenges Monash times more potent than carbon dioxide when released into continued collaboration between the University’s
experiences being developed. It also builds on existing seeks to solve as part of its mission are most pressing in the atmosphere. academic and operational areas is essential for
cross-faculty relationships in double degree offerings. the Pacific Nations. The region is responsible for just .03 a comprehensive approach. Following broad consultation,
per cent of the world’s total greenhouse gas emissions, In April 2020 the Victorian Government released its a governance model has been developed that brings
Attempts by other universities to make an ESG or SDG- but is disproportionally affected; warming oceans, Circular Economy Strategy, setting out a program to together all stakeholders with a responsibility for
focused unit of study compulsory for all students enrolled drought, coral ecosystems destroyed, extreme weather reduce the environmental impacts of production and Monash’s statutory compliance and experts capable of
in a particular degree have also tended to be unsuccessful events, ocean acidification, and rising sea levels. consumption and improve natural resource utilisation by making a transformative contribution in our response to
and potentially counterproductive. transforming waste and recycling in the state. The circular modern slavery.
Monash has been involved in the Pacific region for economy is core to realising several UN Sustainable
over 40 years mostly through government scholarship Development Goals, most notably SDG 12 (Responsible This model will also ensure alignment with and support
ENGAGEMENT programs and research partnerships. In recent years Consumption And Production), but also: SDG 2 (End from world-leading academics in the Faculties of Arts
there has been considerable growth in Monash projects Hunger), SDG 6 (Clean Water), SDG 7 (Affordable and (e.g. the Trafficking and Slavery Research Group),
Growing the scale of engagement through partnerships
and interest in working with the region. These include the Clean Energy), SDG 13 (Climate Action), and SDG 15 Monash Business School and Law. Monash Sustainable
with industry, community and government is essential
Revitalising Informal Settlements and their Environments (Life on Land). Development Institute (MSDI) will be also consulted to
for Monash to give greater effect to its mission meet the
(RISE) program; expansion of the Global Immersion ensure Monash continues to support the United Nations
environmental and social challenges of the age.
Guarantee education program to Fiji, as well as an array of If Monash University is to be an international leader Sustainable Development Goals (SDGs).
initiatives to foster (for example) good policy governance, driving change towards sustainability and achieve its
Australia’s geographic isolation presents a challenge for
gender development, peace and security, improving commitments to the UN Sustainable Development goals,
collaboration of the kind of magnitude and depth to which
access to clean water, and the PacWastePlus project, it needs to be seen as a leader in the adoption and
Monash aspires. Much of the focus of R&D activity by
which is building capacity and sustainability into waste application of the Circular Economy framework in its
prospective multinational partners remains concentrated
management practices. operational sustainability strategy.
in economic blocs in Europe, North America and Asia,
where other world-class universities and major research
collaborations are based. To overcome these challenges, This growth in Monash University’s involvement in
Monash must demonstrate capability for adding value the region coincides with a shift in Australia’s foreign
above and beyond what other universities closer to those policy priorities to build a Pacific region that is secure
partners can provide. strategically, stable economically, and sovereign politically,
as well as stronger advocacy by the region itself.
11 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 12WHERE TO NEXT? WHERE TO NEXT?
GENDER EQUALITY Expanding gender equity goals to outreach programs and
student population will help Monash to improve further in RECOMMENDATIONS GOVERNANCE
Notwithstanding our progress to date, Monash recognises the Times Higher Education Impact Rankings that assess The University will explore opportunities to improve
much more must be done to improve gender equity. universities against the United Nation’s Sustainable its capture and reporting of environmental, social and
Gender imbalance continues to persist in leadership, in Development Goal ‘Gender Equality’. governance advances.
senior academic roles and in certain areas of Monash
where women’s participation has been historically low. Advancing women’s careers in Science, Technology, Monash University makes transformative contributions
Engineering, Mathematics and Medicine (STEMM) remains to some of the most important environmental and social
While women are notably visible in several very senior at the forefront of Monash’s gender equity strategy. initiatives of our age: as a signatory to the UN Sustainable
Monash appointments (including most notably the Institutional support for continued participation in the Development Goals and International Universities
President and Vice-Chancellor and the DVC Education), Athena SWAN accreditation program will be a key enabler Climate Alliance; as host institute for organisations such
their representation in senior roles is yet to reach parity. for important cultural shifts and transformational changes as ClimateWorks and the Gender, Peace and Security
Presently women make up 56% of Monash staff but in STEMM and beyond. Monash seeks to achieve the Centre; through research such as the Revitalising
only 39.3% of senior appointments. This disparity Athena SWAN Silver award by 2023, demonstrating Informal Settlements and their Environments (RISE)
is particularly concentrated in academic positions, gender equity leadership within the sector and ensuring Project and Securing Antarctica’s Environmental Future,
specifically Level D and above, with less than one third the University’s competitiveness in the increasingly and through education programs such as the Global
(29.2%) of Professors being women. Conversely, staff discerning marketplace. Immersion Guarantee and the Master of Environment and
in senior professional appointments reached gender Sustainability. It is time for the University to introduce
parity in 2020. Monash is also continuing to address equity impacts a more coordinated approach capable of providing greater
of the health pandemic on staff by actively supporting transparency and celebration of our activities and our
Recognising that a diverse, inclusive leadership is central retention and career advancement of women in STEMM commitments in these areas, as well as how they fit within
to our pursuit of excellence and strengthens both the and other underrepresented groups, by removing systemic the broad mission of the University and how we can
University and our community, Monash University has set barriers generated by caregiving responsibilities and by continue to improve in them.
a target to reach 42% of women in senior academic and reducing unconscious bias in decision-making.
corporate roles by 2022 and to halve the organisation- Monash will accomplish this by folding ESG monitoring
wide gender pay gap by the same year. and implementation into the University’s business as usual
planning, implementation and monitoring processes.
In reviewing the University’s efforts to address the issue Responsibility for monitoring ESG processes shall be
of gender inequality in its staff profile, the Working Group undertaken by a standing committee of the University
agreed that it would be appropriate for Monash to set Council, which will meet twice per year.
a target of achieving salary parity for women within five
years, and gender parity in senior roles by 2030. The The University will also find ways to amplify its SDG
importance of setting a five year milestone towards reporting and integrate this with the University’s other day
reaching the 2030 gender parity target was also noted. to day reporting processes.
The Working Group’s intention is to achieve substantial
progress within the life of the ESG Statement. The University will finalise its approach to these steps by
the end of 2021.
13 MONASH UNIVERSITY ESG STATEMENT MONASH UNIVERSITY ESG STATEMENT 14RECOMMENDATIONS
OUR PROGRESS RECOMMENDATIONS
INVESTMENT The Yoo-rrook Justice Commission has also been The University will develop and refine a living strategy The Faculties of Arts, Science and the Monash Business
established to build on this work on treaty, and address for clean energy transitions to become the exemplar School have developed close working relationships to
Monash University will continue to transition its investment historic wrongs and ongoing injustices. Notably, the Australian university for energy innovation research and support the planning and delivery of GIG and other future
portfolio towards carbon neutrality. Director of the Castan Centre for Human Rights Law in practice enabling a net zero future. The University will rich experiences. The GIG can additionally be offered
the Faculty of Law at Monash University, Professor the announce its living strategy for clean energy transitions as an elective in all other degrees as determined by the
Fund managers are increasingly allocating resources to Honourable Kevin H Bell AM QC, has been appointed by mid-2021. relevant faculties. This will ensure widespread availability
develop products and capture interest in climate aligned as one of five historic truth-telling Commissioners Yoo- without disrupting degree structures or load planning.
and social outcome orientated investments. Monash aims rrook Justice Commission. This is excellent recognition of Monash will establish as a priority a central portal or
to lead Australian universities in this endeavour, building Monash University’s role. digest of ESG-relevant research activity being conducted Monash will engage with the Australian Government to
on its earlier progress to embed responsible investment across all its faculties and affiliated bodies, to be made expand funding under the New Colombo Plan to include
action and low carbon investment strategies into its Monash University will support establishment of the Yoo- available to the Monash community. The University the Pacific, and the health student cohort where possible.
investment practices. The University will also recognise rrook Justice Commission and contribute to progressing will ensure all of its external departments, centres and
and satisfy its corporate responsibilities to manage its the development of Treaty conversations with our affiliates are included in the capture of this information. The University will roll out and integrate the Sustainable
finances responsibly and sustainably at all times. stakeholders and the broader Victorian community. Healthcare Education initiative or similar programs
throughout schools in the Faculty of Medicine, Nursing
As a sustainability and social justice pioneer, Monash will At the Commonwealth level, Monash University will
TEACHING and Health Sciences to encourage sustainable
work with fund managers to define the pathways that support and contribute to the Commonwealth Indigenous development literacy for all students enrolled in health
The challenges of the age are environmental and social
enable it to achieve carbon neutrality across its externally Voice to Parliament co-design process. professional courses. Monash will also engage with other
challenges. Monash students must be able to lead efforts
managed investments by 2050. universities to increase this sustainable development
to solve them. The University will respond to this demand
by growing student take up and engagement in learning literacy elsewhere.
This approach supports the broader University’s Net Zero RESEARCH
opportunities in ESG themes. Monash will leverage the
aspirations, while satisfying its fiduciary responsibilities. Monash will also pursue development of common
The University will grow its leadership in social and advantages provided by its international campuses,
environmental sustainability fields including research in partnerships with other universities and its Pacific core, cross-disciplinary microcredentials that focus on
Monash will also report annually on its progress to embedding environmental sustainability and social themes
clean and renewable energy, and improve how it captures, footprint for doing so.
improve the climate alignment of its investments as part in the degrees of students at both the undergraduate
measures and reports discoveries that advance the UN
of the University’s broader responsible investment and and graduate level. The University will explore options to
Sustainable Development Goals. While recommending the extension of teaching programs
sustainable development goals (SDG) reporting processes. address the current financial disincentives affecting cross-
consistent with the ESGs, the Review appreciated that
Monash University has an impressive suite of researchers some degrees have mandatory subjects for professional faculty, multidisciplinary learning as part of this process.
ABORIGINAL AND TORRES STRAIT delivering environmental and social transformation. qualification purposes. There may be a concern as to
Leveraging and reporting against the Sustainable faculties’ capacity therefore to include ESG focused Monash will compile and publish annually its ESG
ISLANDER PEOPLES
Development Goals to frame those advances will teaching in a degree syllabus. However, the Review teaching programs and activities to be available both
Through our teaching, research and community help Monash to deepen the relevance of its research anticipated that many or some of the mandated subjects internally and externally on the University website.
engagement, Monash will continue to make a substantial to communities and strengthen how it coordinates may be taught in an innovative and creative manner so
and ongoing contribution to Indigenous advancement by interdisciplinary collaboration across its diverse as to both satisfy professional bodies (e.g. the Victorian
fostering mutually-beneficial partnerships with Indigenous research profile. Legal Admissions Board and the medical registration
peoples and communities. authorities) and fulfil the ESGs. The Review regarded the
Monash has world class expertise in clean energy area as requiring encouragement of ESG awareness and
The University will improve its recruitment, support and domains spanning production and utilisation, storage leadership across teaching at Monash.
retention of Indigenous students and staff, and advance and transport, AI-based design of future energy systems,
research, knowledge and awareness of Aboriginal and market design, policy development and advocacy to In view of the benefits sustainability and social-themed
Torres Strait Islander Peoples, cultures and issues. enable a clean energy economy to flourish. What is learning abroad experiences have on academic
now needed is to integrate this work more closely with performance and retention, Monash will make the Global
Monash will continue to implement the pillars articulated in government and industry priorities to translate this Immersion Guarantee available as an elective for all first-
the Aboriginal and Torres Strait Islander Framework 2019– research into impact – the triple helix of innovation. and second- year students enrolled in comprehensive
2030 across all of the University’s operations, and be undergraduate degrees. This includes bachelor of Arts,
responsive to ongoing commitments established through A whole-of-University strategy will bring this expertise Commerce, Business, Business Administration, and
governments, and Indigenous community priorities. together to maximise relevance and benefits to partners. Science, as well as all double degrees with comprehensive
This requires a coordinated approach across faculties, degrees (e.g. BEng/ BComm, LLB/BA, BBiomedSc/Sci).
The Victorian Government is committed to self- institutes, and university facilities management, as well as Up to 70 per cent of the student cohort will have access
determination as the guiding principle in Aboriginal affairs. engagement with partners and the public to accelerate our to a funded international experience under this program.
As part of this commitment Victoria was the first Australian impact and enhance transformation in energy innovation
state to progress Treaty discussions, establishing the across the nation and worldwide.
First Peoples’ Assembly of Victoria to be the voice for
Aboriginal communities across the state and represent
them in the next phase of the Treaty process.
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