10 July 2022

The Power of ESG – Issue #2

If you have not heard the term ESG by now, it is time to start listening.

You may have found yourself wondering, how would this affect me? Environmental, Social and Governance (ESG) will eventually affect every business and individual, so here are some of the latest ESG change announcements that demonstrate we are on the verge of real change.

By 1 September 2023 the following will be banned:

  • Mass balloon releases,
  • Plastic microbeads,
  • Polystyrene packing peanuts, and
  • Plastic stemmed cotton buds.

Also facing the cut, but with no time frames yet are:

  • Plastic drinking cups,
  • Bread tags,
  • Sauce sachets,
  • Balloon sticks,
  • Plastic dome lids,
  • Bait bags, and
  • Disposable coffee cups and lids.

Basically, single use plastics will be gone.

This all falls under the E for Environment area of ESG, and as you can see it won’t only affect retailers and other businesses that sell or utilise these items it will also affect their consumers, and by implication all of us as consumers!

For me, I believe ESG is starting now with the simple things. We know what lies ahead so let’s prepare. Start proactively looking at the things we can do to get ahead of the curve and when the changes are made there is less impact for us, whether that be at home or at the office.

What change are you going to make?

ESG is going to be used in the future for others to screen investment decisions, for example from a bank into your business or other businesses into yours. It is going to change the basis of the business world as we look at businesses through the lens of being a sustainable ESG based business.

Environmental may include things such as climate policy changes, energy use, waste, pollution, natural resource conservation and treatment of animals.

The social side of things not only looks at the relationships the business has with its team members, but all its stakeholders and covers such as WH&S.

Governance is ensuring there is an accurate accounting method adopted, the company operates with integrity and diversity, and is accountable.

Those businesses that are socially responsible should also be those businesses that trade profitably into the future. Now is the time to start looking and deciding where to start! Contact our team of expert business advisors today to find out how we can assist you into your ESG future.

Amanda Kenafake
CEO & Executive Director
Power Tynan




Privacy policy


Suite 6, 618 Ruthven StPO Box 421Toowoomba, Queensland, 4350

07 4688 8400


142 High St PO Box 321Stanthorpe, Queensland, 4380

07 4681 6700


39 Hawthorne Street Roma, Queensland, 4455

07 4622 4345


Level 2, 13/22 Baildon Street Kangaroo Point, Queensland, 4169

Liability limited by a scheme approved under Professional Standards Legislation.

Independent Member of Walker Wayland Australasia Limited, an association of independent professional firms.

Power Tynan Pty Ltd ACN 605 475 849 is an Authorised Credit Representative of Australian Finance Group Ltd Australian Credit Licence 389087. AFCA 87925.

Authorised representative of Accession3 Financial Advisers Pty Ltd AFSL 331990

Copyright 2024 © Power Tynan Accountants | Advisers | Financial Planners | Mortgage Brokers

Privacy PolicyPrivacy Collection StatementClient Data ManagementCredit Guide