Cbus Super has announced a $240 million mandate with Impax Asset Management to help the fund reach its portfolio commitment to be net zero emissions by 2050, and a 45% absolute reduction in carbon emissions by 2030.
The mandate would focus on climate mitigation and adaptation, and would be managed using the Impax Climate Strategies. This was a global equities strategy that invested in companies providing solutions to climate change challenges.
Cbus head of equity portfolio construction, James Crawford, said: “The Impax Climate Strategy seeks to invest globally in listed companies with demonstrable exposure to products and services enabling mitigation of climate change. All portfolio companies are aligned with the Paris Agreement and are positioned to provide significant net CO2 savings.
“The strategy to invest in companies that will help provide solutions as well as investing in companies that will adapt to climate change has a clear link to Cbus’ goal to safeguard member savings from climate related risks.”