Chris Bowen backs industry funds' right to wield influence on business | ErykBagshaw
Shadow treasurer Chris Bowen has backed a push from Industry Super to throw its corporate weight around, as the trillion dollar giant agitates for a greater say in the companies it invests in.
Mr Bowen accused Mr Frydenberg of "ideological warfare" and said he would defend the rights of industry funds to voice their concerns. Industry Super's investment arm, IFM investors, which manages funds worth up to $81 billion, has accused companies of a zombie-like response to climate change and will begin shaming them through emissions reduction targets for its Australian assets."It's incumbent on governments, businesses and individuals to do what we can," he said. "Industry funds wouldn't be the only people who think the company should be having a mind to climate change in their policies.
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