VicSuper’s pledge outlines a range of fund wide climate initiatives relating to business operations, investment processes and engagement activity.
The TAKE2 climate change pledge demonstrates VicSuper’s support of the Victorian Government’s climate change strategy, namely to help Victoria reach net zero emissions by 2050. VicSuper Chief Executive Officer Michael Dundon and Corporate Responsibility Manager Kirsten Simpson participated in the Victorian state government’s TAKE2 climate change pledge launch event held in June 2016.
Michael Dundon commented “We think it’s important for government, business and the community to work together on tackling this very important issue. That’s why we’ve provided our support for the TAKE2 climate change pledge”.
VicSuper is actively considering how climate change impacts both the business and its investment portfolio. A CEO led climate steering committee has been established to further develop and oversee the implementation of the fund’s climate change strategy.
VicSuper’s TAKE2 climate change pledge is available to view on the TAKE2 website and information on what VicSuper has already achieved is presented in this short TAKE2 video.
Sustainability Victoria Chief Executive Officer Stan Krpan commented “I commend VicSuper on being a founding member of TAKE2 - the Victorian Government's climate change pledge program. VicSuper and the superannuation industry have shown great leadership in championing environmental, social and governance issues, which are important to their members and increasingly to the financial bottom line.
"Their pledge involves not only taking account of their own emissions and reducing them, but also extends to public reporting on carbon intensity of their investments. Their new socially responsible investment option - Socially Conscious - confirms our research that there are new business markets and opportunities emerging in the transition to a lower carbon economy.”
In addition to the pledge, VicSuper has also recently restructured and re-launched their Equity Growth Sustainability investment option. The restructured option which is now called Socially Conscious incorporates a wide range of social and environmental objectives.
VicSuper’s Socially Conscious investment option provides members with the opportunity to invest their super savings in alignment with their social and environmental values. The option addresses climate change by not investing in companies that hold fossil fuel reserves used for energy purposes or whose principal business revenue is derived from direct fossil fuel activities. It also helps to support the objectives of Victorian State Government climate policy and many local government climate related commitments.
Details of VicSuper’s TAKE2 climate change pledge, climate related performance and the Socially Conscious investment option are now available on VicSuper’s website.