{"id":44802,"date":"2020-11-13T05:12:40","date_gmt":"2020-11-12T18:42:40","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=44802"},"modified":"2020-11-13T05:12:40","modified_gmt":"2020-11-12T18:42:40","slug":"australiansuper-net-zero-mb1760","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/australiansuper-net-zero-mb1760\/","title":{"rendered":"AustralianSuper Joins The Net-Zero Bandwagon"},"content":{"rendered":"

\"AustralianSuper<\/p>\n

Superannuation fund AustralianSuper announced yesterday it has committed to achieving net-zero carbon emissions for its investment portfolio by 2050, stating that it was in members’ interests to do so.<\/p>\n

AustralianSuper is an industry super fund managing $180+ billion on behalf of more than 2.3 million members as at June 30 this year.<\/p>\n

Back in 2016, it consolidated three “sustainable” member investment options and created a new option called “Socially Aware”, excluding investment in companies that, among other activities, directly own reserves of fossil fuels. But in terms of investment, this was a drop in the bucket – with combined assets of around $2 billion at the time.<\/p>\n

4 years on and the fund has significantly upped its game and aim.<\/p>\n

\u2018In making the Net Zero 2050 commitment, we have undertaken significant analysis to understand the sources of emissions in the portfolio and the progress we\u2019ve already achieved to reduce these,” said<\/a> AustralianSuper Director ESG and Stewardship, Andrew Gray. “This will enable us to take a measured and structured approach in achieving Net Zero 2050, including reporting our progress.”<\/p><\/blockquote>\n

Realising the risks climate change present to its long-term investment performance, the fund says the move is in line with global market expectations and consistent with AustralianSuper’s goal of maximising members\u2019 long-term investment returns.<\/p>\n

Climate Efforts To Date<\/h2>\n

In terms of progress prior to this announcement, AustralianSuper says the carbon intensity of its Australian and international share portfolios had reduced 44% between 2013 and 2019, and it had already committed to having $1 billion invested in renewables by the end of 2022.<\/p>\n

Its current renewables investments include:<\/p>\n