IFM has announced all companies in its private equity portfolio have achieved carbon neutrality as part of IFM’s commitment to reducing greenhouse gas emissions.
The superannuation-owned fund manager was aiming to reduce greenhouse gas emissions across its asset classes, targeting net zero by 2050.
IFM said the companies in the private equity portfolio were those which were actively pursing emission reduction initiatives as a priority.
This included purchasing verified carbon offsets which enhanced biodiversity in Australia and delivered additional social, cultural and environmental co-benefits in order to compensate for organisational emissions.
Head of private equity, Stuart Wardman-Browne, said: “This is an important milestone for IFM Private Equity and the portfolio companies we work with. We are focused on building successful, sustainable companies with cultures that authentically engage teams, customers and other stakeholders.
“Cultivating purpose-driven cultures, promoting fair and inclusive workplace practices, and reducing our portfolio’s carbon footprint are key elements of our responsible investment approach and integral to creating value for our investors and their members and beneficiaries.”
IFM was also part of the Investor Group on Climate Change’s Climate League 2030 which pledged to support and act deeper Australian emission reductions of at least 45% below 2005 levels by 2030.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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