Cbus Super has awarded a new $240 million mandate to UK group Impax Asset Management that will focus on investing in opportunities arising from the energy transition and protecting members’ savings from climate risk.
The super fund has rolled out the mandate under its climate change road map commitment, pledging to reach net-zero emissions across its portfolio by 2050, with an interim goal of 45 per cent reduction in carbon emissions by 2030.
The mandate will be managed using the Impax Climate Strategy, a global listed equities product that aims to invest in companies providing solutions to challenges around climate change.
James Crawford, head of equity portfolio construction at Cbus commented all portfolio companies within the Impax Climate Strategy are aligned with the Paris Agreement, “positioned to provide significant net CO2 savings”.
Jon Forster, senior portfolio manager at Impax added asset owners are “increasingly prioritising climate change mitigation and considering climate risk in their investment decisions”.
“The Impax Climate Strategy responds to that need, but also to our belief that there are considerable investable opportunities as society adapts to the consequences of climate change,” Mr Forster said.
“This is part of our wider philosophy that capital markets will be shaped profoundly by a variety of global sustainability challenges.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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