Retirement
The latest multibillion-dollar super fund to go green
An industry fund that has been around for over two decades has hit a new landmark in its push for sustainable investing.
The latest multibillion-dollar super fund to go green
An industry fund that has been around for over two decades has hit a new landmark in its push for sustainable investing.
Local Government Super (LGS) holds about $11.5 billion in funds and has long had a focus on sustainable investing.
This week, it announced it has gone even greener, achieving carbon neutral certification by the Australian government for all NABERS (National Australian Built Environment Rating System) rated buildings in its direct property portfolio.
In the funds management space, these types of certifications are becoming increasingly popular, as investors look to reduce their carbon footprint and capitalise on sustainability trends.
LGS head of property Scott Armstrong believes going green aligns with member and investor expectations.
“LGS strives to continually improve the environmental performance of our direct property assets by incorporating environmental practices and social considerations into the day-to-day management of our direct property portfolio. In doing so, we aim to enhance the overall retirement outcomes for our members,” said Mr Armstrong.
To meet the standard’s requirements, LGS purchased dual credit offset units that combine biodiversity outcomes in Australia with international emissions reduction. The Australian offsets, supplied by Greenfleet, will result in more than 5,000 native trees being planted in Eastern Australia
This will provide habitat to native wildlife, conserve biodiversity and increase resilience to climate change. The international emissions reductions component of the offsets are delivered through investment in wind power in India.
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