Australian superannuation fund trustees have condemned the decision by US President, Donald Trump, to with draw from the Paris Agreement on climate change.
Australian Council of Superannuation Investors (ACSI), Louise Davidson described the decision as “retrograde”.
“It is disheartening to see a decision like this, by a wealthy industrialised nation, which flies in the face of scientific knowledge and investor concerns,” she said. “The decision by the Trump administration to withdraw from the Paris Agreement is out of step with community expectations that governments will act in the face of these very real dangers.”
She that it was against this background that ACSI welcomed the Australian Government’s commitment to continuing to support the Paris Agreement.
“ACSI members are already investing to support a transition to a low carbon economy. The Paris Agreement is key to ensuring investors have the confidence to continue to support this transition”, Davidson said.
