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CareSuper sets net-zero by 2050 goal
CareSuper has committed to achieving net-zero carbon emissions across its investment portfolio by 2050 and says it will provide more details for its roadmap over the coming months.
CareSuper chief executive, Julie Lander, said the commitment aligned with CareSuper’s fiduciary duty to members and reflected the fund’s belief that climate change presented a significant economic risk to current and future generations.
“As an Industry Super fund, we care about making a positive difference to our members' lives by helping to set them up for a better future,” Lander said.
“We know that climate change is a systemic risk that extends to all sectors of the economy and has the potential to significantly affect the retirement outcomes of our members.”
Lander said setting the net-zero goal was in line with members’ best financial interests and aligned with their expectations.
“I am very pleased to be announcing this initiative and look forward to providing our members and employers with more details as we develop our roadmap to net zero over the coming months,” she said.
CareSuper chief investment officer, Suzanne Branton, said the fund had integrated the assessment of environmental, social and governance (ESG) factors into its investment program over many years.
“We believe these factors can impact investment risks and returns and contribute to our ability to deliver sustainable growth for the benefit of our members,” Branton said.
“The research shows that the transition and physical risks of climate change will likely negatively impact portfolio value if we do not act to mitigate climate risk.
“At the same time, committing to net zero will help us take advantage of potential investment opportunities to create value for our members.”
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