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Equipsuper and Catholic Super commit to net zero
Equipsuper and Catholic Super have pledged to adopt net zero carbon emissions and have stated investments must meet social responsibility criteria.
The funds’ chair, Danny Casey, said the funds needed to do everything they could to make sure “the world that members today, and in the future retire to, is one that’s safe and environmentally sound”.
“We need to invest with a social conscience, it is more than just climate, we want to ensure members’ money is being invested in a socially responsible way. We're going to ensure that we've got that lens all over our investments,” Casey said.
“We know climate risks are real and we're committed to net zero by 2050. We made that judgment because all the analysis and modelling suggested that the longer we wait, the more it's going to cost – and that means a financial cost, as well as an environmental cost.”
Casey also said the funds would welcome another merger with another industry fund. Equipsuper and Catholic Super had a growth strategy to double its membership to 300,000 and increase its funds under management to $50 million (from $30 million) by 2025.
“Like us, industry funds bring a really strong connection to the membership base. We would welcome a merger with another industry fund. They almost certainly would have a strong representative model, underpinned with a really strong approach to skills,” he said.
“We don’t have any objections to unions or employers appointing representative directors, provided it comes through a skills lens. This is now common practice and it is one I see as being in the members’ best interests.”
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