Monday 29 June 2020

Australian super fund aims for net zero investment portfolio by 2050

Australia's HESTA industry super fund has made a 2050 net zero commitment for its investment portfolio.

The AUD$52 billion (£28.9bn) pension fund for people working in health and community services, has also committed to reducing carbon dioxide emissions in its investment portfolio by 33% by 2030 by seeking further investment in low-carbon projects.

It recently ended investments in thermal coal.

Debby Blakey, CEO at HESTAS, said: “Climate change presents a financial risk to the HESTA investment portfolio and the world in which our members will retire.

”We know our members in health and community services care deeply about climate change and that’s why we’re committed to sustained, long-term action to transition our investment portfolio for a low-carbon future."