Local Government Super (LGS) has been certified as carbon neutral through Climate Active which includes all employees, its Sydney head office, and its seven regional offices.
LGS said it measured emissions, reduced them where possible, offset emissions and publicly reported on the results.
The fund’s head of responsible investment, Moya Yip, said LGS supported a number of carbon offset products.
These included a re-forestation project in New South Wales, the Rimba Raya biodiversity reserve project in Indonesia, and a wind power project in Rajasthan, India.
“These projects reflect our local and global outlook and they generate environmental, social and economic co-benefits,” Yip said.
“The carbon offset projects align with the United Nations Sustainable Development Goals and the values of our membership base.
“The projects deliver community benefits in the form of employment opportunities for the local population, especially for women in enterprise. They also raise living standards through clean water and solar energy as well as introducing innovations into local agriculture.”
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.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
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