Australian pension funds turning green at investors’ insistence
After wildfires razed an area the size of England, custodians of the retirement savings are being asked to take steps to combat global warming
15 February 2020 - 09:41
Melbourne — Taking a passive stance on climate change isn’t something Australia’s A$2.9-trillion ($2-trillion) pension industry can get away with for much longer.
After deadly wildfires razed an area the size of England, custodians of the nation’s retirement savings are being asked to take more direct steps to combat global warming. Environmental activists and funds’ own members say the common practice of staying invested in the biggest polluters to exert influence isn’t sufficient, putting firms under mounting pressure to either divest or significantly cut exposure to offending companies...
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