AUSTRALIA - Environmental, social and governance (ESG) issues are critical to the long term financial success of superannuation assets and should be incorporated into the investment decision making process of trustees, superannuation and corporate law minister Nick Sherry has warned.
However, he warned the consideration of ESG factors was an important part of their fiduciary responsibilities.
He said: "Trustees of superannuation funds in Australia have solid grounds for pursuing sustainable investment strategies, provided they are precisely formulated and carefully implemented…and the purpose is the advancement of members interests.
"I must stress the integrity of decision making that is required. This is not about justifying a broad ideological agenda. Sustainable investment is a long term investment strategy that must be backed by rigor."
Sherry said, to achieve this, investment data and analytical tools needed to be available. He said one of the biggest impediments appeared to be access to adequate, verifiable information about ESG risks, and welcomed the super industry's efforts in this area to date.
He added: "It is important that the industry work collaboratively to increase the availability of quality analysis, recognising the value of this information is essential to the mainstream development of sustainable investment."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.