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LGS continues ESG journey
Industry super fund Local government Super (LGS) has continued to beef up its focus on environmental, social and governance (ESG) factors in its investment strategy after investing in the European Bank for Reconstruction and Development (EBRD) Green Bond.
The bond focuses on environmentally sustainable projects across energy efficiency, clean energy, water and waste management, environmental services and sustainable public transport.
Just over half ($3.7 billion) of LGS's assets are invested in responsible investment strategies across Australia and international equities, property, absolute return, private equity and sovereign bonds.
The fund has also pledged its commitment to recent ASX Guidelines on ESG disclosure requirements.
"This is another positive development that once again demonstrates increasing understanding in the broader investment community that the key to long-term investment success is to ensure that whatever we invest in - be it companies, properties or any other asset - is going to go the distance," said LGS chief executive Peter Lambert.
Lambert said the fund had worked to embed more sustainable investment practices in its portfolio for the past 10 years. Its work has resulted in a string of local and global accolades and recognition this year.
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