Australia’s large superannuation funds that hold more than $2 trillion in retirement savings are coming under increasing pressure to do more to help combat climate change
, as bushfires continue to ravage the countryside.
“We think the bushfires and other events like them are going to spur super funds to be more active in trying to identify and also measure the [climate change] risks," he said.Joey Alcock of Frontier Advisors says the bushfires will increase pressure on super funds to be more active on climate change "As a responsible investor, we prefer engagement over divestment. As Market Forces notes, many organisations have made significant progress towards the Paris Agreement [to keep the rise in global temperature to below 2°C and for net zero emissions by 2050.]," the spokesperson said.
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