Sustainable BusinessAustralian pension fund association raises bar for companies on climate change
Melanie Burton
3 minutes read
Australia s main association representing pension fund investors said it was tightening its climate change policy and may recommend voting against directors of companies which are not moving fast enough to meet Paris goals.
The Australian Council of Superannuation Investors (ASCI) is also urging companies to adopt shareholder resolutions known as Say on Climate which typically call for annual disclosure of emissions, a strategy to reduce emissions and a non-binding vote on corporate climate plans at annual general meetings.
ASCI s 36 members collectively own on average 10% of every ASX200 company and its new climate change policy will go into effect from 2022.