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Carbon Offsets & the Best Financial Interests Covenant

About this event

There is an ongoing debate about the extent to which the purchase of carbon offsets in relation to the trustee’s carbon emissions is in the best financial interests of members. The debate ignores a threshold question: does the best financial interests covenant apply to such expenses at all?

Join MinterEllison’s Philip Marquet (Senior Associate) for a practical and insightful workshop that will provide clarity on whether the purchase of carbon offsets in relation to a trustee’s own carbon emissions needs to be tested against the best financial interests covenant.

Key topics to be discussed include:
• ESG and carbon offsets;
• trustee expenditure;
• the best financial interests covenant; and
• trustee remuneration clauses.

Who should attend?
• Trustees and directors
• CEOs, and senior management staff
• Governance and Company Secretariat staff
• Compliance and risk professionals
• Those who support the board/trustee function

How you’ll learn
One-hour online virtual workshop.
ASFA’s virtual workshops are a live and interactive learning experience. Participants can engage with industry-leading presenters who are experts in their field, together with their peers, just like they would at an ASFA face-to-face workshop. It is a unique opportunity to workshop ideas and concepts in a collaborative online environment facilitated by experts. Virtual workshops are limited to 30 participants to allow for discussion, and to ensure that participants have ample opportunity to ask presenters questions.

Details

17 July, 2025
1:00pm – 2:00pm

Pricing (incl. GST)

Standard

Member: $195
Non-member: $250

Philip Marquet

Speaker Bio

Philip is an experienced superannuation and investments lawyer at MinterEllison, where he is a senior member of the Financial Services & Funds department. He has over 10 years' experience advising superannuation trustees and other institutional investors, and has held roles at leading law firms in both Sydney and Melbourne. His relevant experience includes:
• advising ASFA on whether Australian superannuation funds need comply with the best financial interests covenant when purchasing carbon credits to offset carbon emissions in the trustee's business operations;
• assisting a superannuation trustee on a comprehensive review of its investment screening policies and practices for the purposes of identifying and managing any "greenwashing" risk;
• co-authoring a paper presented to the Tax Institute on the best financial interests covenant; and
• assisting superannuation funds and other institutional investors in relation to significant investments across a range of asset classes, including infrastructure, private equity, debt and property.