Australia Aims for 43% Emissions Cut by 2030, Backed by Super Funds
Australia has set an ambitious target to reduce its greenhouse gas emissions by 43% by 2030. This goal, part of the Climate Change Bill introduced by Prime Minister Anthony Albanese, has been endorsed by most superannuation funds in the country. These 'supers', managing over A$3.5 trillion in assets, are crucial for driving the nation's energy transition.
John Pearce, chief investment officer at UniSuper, has publicly supported this target. Pearce believes that the superannuation industry can play a significant role in achieving this reduction. The Responsible Investment Association of Australasia (RIAA) has recognised ten super funds for their responsible investment practices in a 2023 assessment. However, specific details about these funds and their individual approaches to emission reduction remain unclear, as no search results provide further information.
Australia's 43% emissions reduction target by 2030 is a significant step towards combating climate change. With the support of the superannuation industry, this goal is more achievable. While the specific strategies of the ten responsible super funds are yet to be detailed, their recognition by the RIAA indicates a collective commitment to sustainable investing.
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