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.
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