Funds Management News
Super funds pressured by anti-green washing push
While many super funds have been keen to push their “green” credentials, with some offering products with specific sustainability claims, there is a new concern to rethink what is being publicly claimed due to increased scrutiny from regulators and pressure from environmental activist groups. Superannuation funds are checking their websites and PDS statements, as well as revising some claims around sustainability as they respond to regulatory crackdown and activist pressure on “greenwashing”. Active Super confirmed a Bloomberg News report last week that said the super fund had removed its 70-page online Responsible Investment Report showing how its investments were assessed for the “environmental, social and governance risk they pose to the world”.
Bloomberg also reported $115 billion UniSuper took down a 16-page section a climate risk report after discovering what it called “anomalies.” The deleted pages provided estimated calculations of the impact of emissions across the various strategies that its 620,000 members invest in. The news wire said it had been alerted to the alterations on the two funds’ websites by investor activist group Market Forces.
The rest of this article can be found at investmentmagazine.com.au.