TelstraSuper has signed onto the Australian Asset Owner Stewardship Code, aimed at increasing the transparency and accountability of stewardship activities in Australia.
Under the Code, signatories must publish a Stewardship Statement on their website explaining how they meet the six stewardship principles it imposes. TelstraSuper already met the broad requirements of all six, but would be enhancing disclosure as part of a commitment to continuous improvement.
The fund’s chief executive, Graeme Miller, said that it took its stewardship responsibilities seriously and was proud to share that work with members.
“TelstraSuper has long recognised the role super funds must play in engaging with companies to shape their behaviour on key issues such as governance, climate change and gender diversity,” Miller said. “Signing on to the Asset Owners Code demonstrates our commitment to increased transparency and accountability around this work.”
The $75 billion fund has gained exposure to decarbonisation solutions in its first listed equities impact investment.
The superannuation fund is expanding its investment exposure to industrial property through a $1 billion partnership with Barings, a global investment manager.
AustralianSuper has usurped the Future Fund as the biggest Australian asset owner, jumping from 43rd to 36th place globally, according to an annual study by the Thinking Ahead Institute.
IFM Investors, the global institutional asset manager owned by superannuation funds, has signed a memorandum of understanding with the UK government to invest £10 billion by 2027.
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