The Association of Superannuation Funds of Australia (ASFA) has released a discussion paper seeking feedback on direction for its views on climate change.
The discussion paper explored the reasons superannuation funds should consider climate change risk when making decisions and the importance of employing mitigation strategies to reduce the risks.
The mitigations strategies that had been explored include a commitment by super funds to:
Some of the key questions the association was interested in receiving feedback on:
Dr Martin Fahy, ASFA chief executive, said: "In the absence of a commitment to net-zero greenhouse emissions by 2050, the superannuation industry stands to lose billions of dollars in investment returns on behalf of their members, which ultimately translates to less retirement savings”.
Feedback for consultation would close on 15 October, 2021.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
Add new comment