1 October 2021
ASFA targets net-zero greenhouse emissions by 2050
The Association of Superannuation Funds of Australia (ASFA) has today released a discussion paper that calls out the risks of climate change and the impact it is expected to have on investment portfolio performance of superannuation funds.
“In the absence of a commitment to net-zero greenhouse emissions by 2050, the superannuation industry stands to lose billions of dollars in investment returns on behalf of their members, which ultimately translates to less retirement savings,” said ASFA CEO, Dr Martin Fahy.
The discussion paper explores the reasons superannuation funds should consider climate change risk when making decisions and the importance of employing mitigation strategies to reduce the risks.
The mitigations strategies that have been explored include a commitment by superannuation funds to:
- reach net zero greenhouse gas emissions in their investment portfolio by 2050
- engage with businesses on climate change risk to support them on their journey to mitigate climate change risk
- adopt the Principles of Responsible Investment approach.
This paper poses questions to readers for feedback that will influence ASFA’s views on key issues relating to climate change risk. We are seeking feedback by COB Friday 15 October 2021. Comments should be sent to Helena Gibson at hgibson@superannuation.asn.au
For further information, please contact:
Jacqui Maddock, 0451 949 300.
About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political, national organisation. ASFA’s mission is to continuously improve the superannuation system, so all Australians can enjoy a comfortable and dignified retirement.
