The multi-sector super fund Equipsuper has announced it has joined the Clean Energy Council (CEC) to get a better understanding of the energy sector.
The fund, which manages assets of over $14 billion for over 75,000 members and their employers, said that many of its existing employers were CEC members therefore its ‘active involvement’ would provide a platform to build awareness among new entrants.
Equip’s executive officer, strategic marketing and communications, Geoff Brooks said: “Investment in the renewables sector is now in full swing.”
“As the preferred fund for many in the sector, we have not only keep communications channels between Equip and our stakeholders transparent and frequent, but also engage at an industry level through organisations like the CECC to gain that vital helicopter.”
The fund also said it decided not to divest of fossil fuel investments as many of its major participating employers with existing assets in fossil fuel generations and resources were also among the leaders in Australian investment in renewable energy.
“There is no doubt the transition to more sustainable forms of power generation now has significant momentum and we are fully supportive of an orderly transition that takes into account impact on employment, communities and maintenance of power supply, as well as on climate and environment,” Brooks said.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
Brighter Super is considerably scaling down the investment options it offers members in order to reduce costs.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
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