Private sector needs to free up capital for sustainable future

The private and public sector have a pivotal role to play in achieving a sustainable future and this can be achieved through bold and decisive action, according to First State Super.

The superannuation fund announced that it was one of 30 business globally that joined the UN-backed Global Investors for Sustainable Development (GISD) which would work together over two years to support the delivery of the 2030 Agenda for Sustainable Development.

The alliance would consider ways to free up private capital to support the delivery of the 17 UN Sustainable Development Goals (SDGs).

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Speaking at the launch of GISD the in New York, the fund’s chief executive, Deanne Stewart said: “As a long-term retirement provider, First State Super has a duty to manage the risks and opportunities associated with our investments and our members’ retirement savings in the long-term.

“We have to protect and enhance the retirement savings of members who are at the end of their career, and also those who are just entering the workforce and may live beyond the turn of the century. In both cases, our members want their savings to support a long and happy retirement.”

Stewart said achieving the Agenda for Sustainable Development would require a bold and committed response from both the public and private sector.

“We know that future economic growth and prosperity will be delivered by those organisations who use their resources sustainably; treat their employees, customers and suppliers fairly and ethically; and have strong governance and culture; consistent with the SDGs,” she said.

“Taking bold and decisive action now to deliver on the SDGs is critical to achieving long-term sustainable economic growth.”

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