TelstraSuper said in a statement it has committed to funding renewable energy projects through Quinbrook’s Net Zero Power Fund, including solar farms, battery projects, and sustainable data centres.
TelstraSuper chief investment officer Graeme Miller said this latest commitment aligns with the fund’s goal of investing at least 1 per cent of its investment portfolio in climate-change focused opportunities by 2025.
“We are excited to be investing in infrastructure that may assist the energy transition of the global economy. As the adoption of AI accelerates, we expect so, too, will the need for sustainable data centres to support the flow of data throughout the globe,” Miller said.
Earlier this year, TelstraSuper invested in Hysata – a company that focuses on developing resource and cost-efficient electrolysers for the production of green hydrogen.
Together, these investments are forecast to drive attractive long-term outcomes for TelstraSuper’s members, both financially and by participating in the energy transition towards a net zero economy.
“We recognise that there are financial risks and opportunities associated with climate change, and these may have a real impact on members’ long-term investment returns,” said Miller.
“We are looking for these opportunities to allow our members to benefit from the transition to a lower carbon economy.”
Miller noted that as the technology evolves, “so do the opportunities for investment”.
“We are delighted to support projects that may have a real impact on addressing climate challenges, whilst also offering strong potential long-term returns.”
In its full-year results, the $26 billion fund announced a return of 9.6 per cent for its MySuper Growth investment option.
The fund also reported the full-year results for its new High Growth investment strategy, which was introduced in October. The option, which has a high exposure to shares and a tilt towards technology and venture capital-type investments, is “off to a strong start”, according to the fund, earning 12.2 per cent for the nine months to 30 June.
In November, Rest Super announced a $1 billion impact investment in Quinbrook Infrastructure Partners and confirmed that the commitment would comprise an investment in the same portfolio.
