The new chair of Equipsuper and Catholic Super has moved fast to push for social and sustainable investments.
As well as committing to double the trustee’s membership base to 300,000 Danny Casey has confirmed he will move to rid the idea that funds like Equip are “brown” on sustainability.
“We are now committed to net zero,” Mr Casey said.
“We have to do everything we can to make sure the world that members today, and in the future retire to is one that’s safe and environmentally sound.
“We need to invest with a social conscience, it is more than just climate, we want to ensure members’ money is being invested in a socially responsible way. We’re going to ensure that we’ve got that lens all over our investments.
“We know climate risks are real and we’re committed to net zero by 2050. We made that judgment because all the analysis and modelling suggested that the longer we wait, the more it’s going to cost – and that means a financial cost, as well as an environmental cost.”
Mr Casey is also determined to increase funds under management from $30 billion to $50 billion by 2025.
Mr Casey replaced outgoing chair Andrew Fairley this month after joining Catholic Super as an independent chair in 2017. He has served as the trustee’s deputy chair since it began in 2019.
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