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ESG obligations extend to agents
Superannuation fund trustees have an obligation to ensure that their agents, such as investment managers, shift their focus towards environmental, social and governance (ESG) principals, according to new guidelines issued by the Australian Council of Superannuation Investors (ACSI).
The guidelines, issued this week, are aimed specifically at superannuation trustees as well as fund managers and consultants.
Commenting on the release of the guidelines, ACSI chief executive, Ann Byrne, said her organisation believed that good governance required boards to consider and manage all material risks facing a company, including environmental and social issues.
She said superannuation funds could, and should, manage their investments for the long term through consideration of ESG risks in their investment decision-making processes.
“ACSI’s guidelines aim to provide assistance to superannuation funds wishing to incorporate ESG into their investment decision-making processes,” Byrne said. “This is done by presenting practical solutions for establishing a policy framework and integrating ESG risk management across the entire investment chain.”
AUTHOR
Mike Taylor
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