POWERED BY MOMENTUM MEDIA
HESTA seeks climate response from ASX 300 boards
HESTA has sought responses from ASX 300 boards about how they are planning for and responding to long-term systemic risks to the environment.
This was the third annual letter the $68 billion fund had written to boards, this year opting to expand from the ASX 200 to all of the ASX 300 companies.
The letter outlined the fund’s engagement themes for the 2022/23 financial year, particularly focusing on climate change and the financial risk it posed to members. It also encouraged companies to assess if their operations and supply chains could be exposed to risks due to either a dependence on nature or were causing a loss of nature.
HESTA chief executive, Debby Blakey, said: “This decade is critical for managing a range of systemic risks that are relevant both to the companies we invest in and the overall management of our portfolio.
“That’s why we’re encouraging management and boards of ASX 300 companies to be ambitious in their responses to systemic risks such as climate change, social inequality and the loss of biodiversity.”
In 2020, HESTA was the first major super fund to set the ambition to reach net zero carbon emissions across its entire investment portfolio by 2050.
As well as climate, HESTA also sought boards’ views on gender inequality, skills shortages, secure work and employee productivity.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
The $91 billion fund has doubled down on its data security, alongside enhancing its investment strategy, with two key appointments.
The Albanese government has appointed Jim Craig as a member of the Future Fund Board of Guardians for a five‑year term.
The $100 billion fund has appointed a new deputy CIO from within.
The $149 billion fund has named new directors following the departure of three outgoing board members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
