Retirement
Super fund commits to new emission target
One of Australia’s leading construction industry superannuation funds is aiming for a 45 per cent emission reduction from 2030, according to an official statement.
Super fund commits to new emission target
One of Australia’s leading construction industry superannuation funds is aiming for a 45 per cent emission reduction from 2030, according to an official statement.
Cbus Super’s announcement follows the firm’s commitment to achieving a net zero emission in accordance with the Paris Agreement.
As per the UNFCCC’s website, the Paris Agreement’s central aim “is to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius”.
Cbus Super CIO Kristian Fok said its roadmap represents a strong and sure determination to see our members retire securely in a safe climate.
“The average Cbus member is 39 years old. It’s our responsibility to safeguard their investments as the financial impacts and physical effects of climate change intensify,” Mr Fok said.
“This science has made clear the targets and time frames. The course that we have charted will see Cbus reduce our portfolio emissions while investing further in renewable energy and climate solutions, as well as avoiding ‘stranded assets’ as the economy transitions.”
Mr Fok said a focus on a green recovery is important for workers as the global economy seeks to recover from the COVID-19 pandemic.
“Recent events are a demonstration of the importance of resilient communities anchored around decent and secure jobs,” Mr Fok said.
“The climate solutions we invest in should strengthen community resilience. Every investor has to be mindful of the risks of leaving communities behind.”
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