HESTA has pledged to support equitable access to COVID-19 vaccines globally and has committed to investment approaches that will support the push for greater vaccine access.
The industry superannuation fund said uneven vaccination rates posed a risk to global health and economic activity in 2021, leading it to sign an investor statement pushing for urgent G7 and G20 governments to take action.
HESTA chief executive, Debby Blakey, said a successful and equitable global distribution of vaccines would have an impact on the pact of economic recovery, and therefore HESTA members’ investments.
HESTA pointed to a study by the International Chamber of Commerce Research Foundation that found the global economy stood to lose as much as US$9.2 trillion ($11.6 trillion) if the COVID-19 vaccines are not widely available in developing countries.
“Ensuring developing economies have equal access to COVID-19 vaccines, medicines and tests will reduce the impact of COVID-19 worldwide, and help foster a fairer and more sustainable global recovery,” Blakey said.
“We’re keen to work with other global investors to explore ways we can encourage further investment that will help fund vaccine distribution.”
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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