Australian superannuation fund trustees have condemned the decision by US President, Donald Trump, to with draw from the Paris Agreement on climate change.
Australian Council of Superannuation Investors (ACSI), Louise Davidson described the decision as “retrograde”.
“It is disheartening to see a decision like this, by a wealthy industrialised nation, which flies in the face of scientific knowledge and investor concerns,” she said. “The decision by the Trump administration to withdraw from the Paris Agreement is out of step with community expectations that governments will act in the face of these very real dangers.”
She that it was against this background that ACSI welcomed the Australian Government’s commitment to continuing to support the Paris Agreement.
“ACSI members are already investing to support a transition to a low carbon economy. The Paris Agreement is key to ensuring investors have the confidence to continue to support this transition”, Davidson said.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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