Tuesday 30 June 2020

Australian HESTA fund commits to becoming net zero by 2050

Australian industry fund for health and community workers, HESTA, has committed to becoming net zero by 2050.

The $52 billion (£42bn) fund has announced the Climate Change Transition Plan (CCTP), which seeks to reduce 33% of carbon emissions by as early as 2030.

The CCTP is in alignment with the Paris Climate Agreement.

CEO Debby Blakey said: “Climate change presents a financial risk to the HESTA investment portfolio and the world in which our members will retire. An urgent response is required and the actions within the CCTP have been thoughtfully and carefully designed to provide an effective and tangible response.

“This is an exciting piece of work that reaffirms our ongoing commitment to leadership in responsible investment and can help protect and enhance the long-term performance of our members’ investments while driving meaningful change and contributing to a healthier planet and society.”