Climate change update

Last year we provided our members with an update on the outcomes of the first phase of our Climate Management and Investments project. Since this time we have undertaken a number of key activities to build on our understanding and approach:

  • A survey was sent out to thousands of our members to gain information on their views and the demand for an investment option that specifically addresses climate change.
  • We initiated research to review environmentally and socially responsible investment options. The first part of this research was endorsed by VicSuper’s Executive in December 2015. The survey results mentioned above were integrated into this business case and we have just sent out an expanded member survey to collect more detailed information on member views. We are expecting to present our finding and recommendations to VicSuper’s Board in the first part of 2016.
  • We fulfilled our obligations as a signatory to the UN backed Montreal Pledge by publishing the carbon intensity of our equities portfolio on our website. We also included this information on member benefit statements to improve access and visibility of our performance.
  • We published an update on how we have been working to address climate change and investment risks with the companies we invest in and our investment managers in our 2015 Annual Report.
  • We demonstrated active support for Government action on climate change by signing the Investor Statement on Climate Change and writing to the G7 Finance Ministers in the lead up to the Paris conference on climate change.

Following the Paris climate conference, we provided our Board with an update on likely climate change scenarios and how these will impact on global economies. This helped to build on the work that we have undertaken over the last year to provide them with context on climate change and investments.

Climate Change and Investments Steering Committee formed

VicSuper’s Board also endorsed our proposal to establish a Climate Change and Investments Steering Committee. This Steering Committee will be headed up by me and will have representatives from our Investments, Risk, Corporate Responsibility and Marketing teams. We will work together to establish our strategy and approach to the management of climate change risk across our investment portfolio, to effectively manage and optimise long term returns for our members. This work has already kicked off and we will be reporting our progress to the Board on a regular basis.

Our objective is to establish a clear public position on climate change that is consistent with our business and investment objectives and activities, supplemented with transparent progress reporting. We look forward to providing you with another update on our progress soon.

Regards

Michael Dundon
VicSuper CEO

Last year we provided our members with an update on the outcomes of the first phase of our Climate Management and Investments project. Since this time we have undertaken a number of key activities to build on our understanding and approach:

  • A survey was sent out to thousands of our members to gain information on their views and the demand for an investment option that specifically addresses climate change.
  • We initiated research to review environmentally and socially responsible investment options. The first part of this research was endorsed by VicSuper’s Executive in December 2015. The survey results mentioned above were integrated into this business case and we have just sent out an expanded member survey to collect more detailed information on member views. We are expecting to present our finding and recommendations to VicSuper’s Board in the first part of 2016.
  • We fulfilled our obligations as a signatory to the UN backed Montreal Pledge by publishing the carbon intensity of our equities portfolio on our website. We also included this information on member benefit statements to improve access and visibility of our performance.
  • We published an update on how we have been working to address climate change and investment risks with the companies we invest in and our investment managers in our 2015 Annual Report.
  • We demonstrated active support for Government action on climate change by signing the Investor Statement on Climate Change and writing to the G7 Finance Ministers in the lead up to the Paris conference on climate change.

Following the Paris climate conference, we provided our Board with an update on likely climate change scenarios and how these will impact on global economies. This helped to build on the work that we have undertaken over the last year to provide them with context on climate change and investments.

Climate Change and Investments Steering Committee formed

VicSuper’s Board also endorsed our proposal to establish a Climate Change and Investments Steering Committee. This Steering Committee will be headed up by me and will have representatives from our Investments, Risk, Corporate Responsibility and Marketing teams. We will work together to establish our strategy and approach to the management of climate change risk across our investment portfolio, to effectively manage and optimise long term returns for our members. This work has already kicked off and we will be reporting our progress to the Board on a regular basis.

Our objective is to establish a clear public position on climate change that is consistent with our business and investment objectives and activities, supplemented with transparent progress reporting. We look forward to providing you with another update on our progress soon.

Regards

Michael Dundon
VicSuper CEO