Superannuation investment capital can play a vital role in delivering the technology to achieve net zero.

Following the release yesterday of Australia’s Long Term Emissions Reduction Plan, the Association of Superannuation Funds of Australia (ASFA) has highlighted the important role that patient superannuation capital can play in funding the technology that lies at the heart of the Government’s plan to deliver net- zero emissions by 2050.

“We welcome this announcement and the further opportunity it provides for superannuation funds to participate in Australia’s transition to a low carbon economy. Superannuation funds have led the charge on renewables and sustainability and the release of the Plan provides further impetus to that,” said ASFA CEO, Dr. Martin Fahy.

ASFA recently released a discussion paper that signalled a commitment to net-zero greenhouse emissions for superannuation funds by 2050. The paper called 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 stood to lose billions of dollars in investment returns on behalf of their members, which ultimately translates to less retirement savings,” said Dr Fahy.

Yesterday’s announcement will provide the policy certainty needed for funds to accelerate their investment in renewables and related technologies and ASFA welcomes further discussion and collaboration on this key issue.

For further information, please contact:
ASFA media team, 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.