Future Fund's head of environmental, social and governance (ESG) risk management, Gordon Hagart will take over at the Australian Council of Superannuation Investors (ACSI) following Ann Byrne's retirement at the end of October after five years in the role.
Hagart has led the ESG risk management program within Future Fund and has also worked with the United Nations environment program in Geneva playing a key role in the development of the Principles of Responsible Investment (PRI).
"Australia has a world-class pension system, and has become a centre of excellence in integrating ESG issues into investment decision-making and the exercise of ownership rights. ACSI and its members have been in the vanguard of those developments." Hagart said.
October’s CPI data is unlikely to sway the RBA’s December monetary policy decision, but those predicting a rate cut in February are now entertaining the possibility of a delayed start to the easing cycle.
The APRA chair has confirmed the need to build resistance to geopolitical shocks as opposed to shying away from global participation.
The government’s adjustment to the Future Fund’s mandate could set a dangerous precedent, warns an economist, raising concerns that it may pave the way for problematic future policies in the superannuation industry.
Westpac has delayed its rate cut forecast, aligning with its peer NAB’s outlook on the likely trajectory for the Reserve Bank of Australia’s cash rate.