Unisuper members brace for climate policy shift as pressure mounts

  • Sep 14, 2020
  • Sydney Morning Herald

"To encourage greater ambition, next week we will make an announcement that we believe will demonstrate our position as an industry leader with respect to our commitment to the aims of Paris Agreement," it said on Friday.

Activist group Market Forces campaigner Will van de Pol said the minimum expectation for the announcement would be a net-zero target across all investment portfolios. "But we're also hoping to see a plan to get out of all fossil fuels, particularly oil and gas producers.

"If Unisuper are saying they’re moving to a leadership position, that’s what would be expected," Mr van de Pol said.

HESTA and First State Super launched new climate policies in July that include 2050 net-zero targets and divestment from thermal coal companies. Cbus also made a commitment in August to have a net-zero emissions investment portfolio by 2050 but stopped short phasing out existing investments in the fossil fuel industry.

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