CareSuper sets net zero goal as part of ongoing responsible investment program
In line with its commitment to ensuring the best financial outcomes for members, CareSuper has set its goal to achieve net zero carbon emissions across its investment portfolio by 2050.
The announcement is the latest in CareSuper’s ongoing program of sustainability and responsible investment initiatives designed to benefit members over the long term.
Julie Lander, Chief Executive Officer, 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 SuperFund, 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.
“Committing to net zero carbon emissions by 2050 is both 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.”
Suzanne Branton, Chief Investment Officer, added, “At CareSuper, we have for many years integrated the assessment of environmental, social and governance factors into our investment program, because 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.
“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.” said Branton.
More information on CareSuper’s responsible investing initiatives, including its Climate Change Position Statement and Sustainable Balanced option, can be found here.
More information on CareSuper’s Carbon Neutral accreditation through Climate Active – Australia’s collective initiative for climate action – can be found here.