Ashurst leads financial inclusion in the legal industry with the launch of its FIAP
21 March 2018
The Ashurst FIAP outlines measurable actions the firm will take to strengthen the financial inclusion and resilience of up to 3.3 million persons across the nation experiencing severe vulnerability or exclusion from mainstream financial institutions.
Managing partner Paul Jenkins said he is proud that Ashurst is the first global law firm to join the initiative:
"At Ashurst, we believe the legal profession has an ethical obligation that extends beyond solving our client's legal issues. This includes providing support to our staff, clients and the communities in which we operate when they are experiencing financial hardship.
"Our FIAP focuses on the areas we believe Ashurst can make the greatest contribution to financial inclusion in Australia, such as specific priorities for our pro bono clients, training for our staff and providing legal support on the FIAP programme to other participating organisations. We believe this will make a tangible difference and I am proud that Ashurst is the first global law firm to sign up to this initiative."
The FIAP programme is led by not for profit community organisation Good Shepherd Microfinance in partnership with the Centre for Social Impact and EY, on behalf of the Australian Government as part of its G20 and United Nations commitments to increase income equality.
The 13 commitments laid out in the firm's FIAP include reviewing the matter management services for pro bono clients to include an assessment of financial health, promoting awareness of the FIAP programme in the legal sector by hosting events focused on financial inclusion and making training opportunities for staff a key consideration in the selection process of the firm's superannuation provider. The firm will also review its procurement process in all Australian offices to identify existing or new supplier relationships that promote financial inclusion.
FIAP Advisory Group independent chair, Delia Rickard adds: "FIAP's harness the influence and resources of industry leaders to build a more inclusive economy and ensure that, as our economy grows, we’re not leaving people behind."
Ashurst advised Good Shepherd Microfinance on a pro bono basis on the establishment and governance of the FIAP programme.
