VicSuper signs the natural capital declaration

VicSuper is proud to announce that we are the first Australian superannuation fund to formally become a signatory of the Natural Capital Declaration.

What is Natural Capital?

Natural capital is the land, air, water, forests and living organisms on the planet. Industries including farming, manufacturing, mining, technology and infrastructure all use these environmental resources as raw inputs. As such, the health and availability of natural capital underpins all human economic activity.

What is the Natural Capital Declaration?

The Natural Capital Declaration is a global initiative for financial institutions. It is run by the United Nations Environment Program Finance Initiative (UNEPFI) and the Global Canopy Programme. To date, the declaration has been signed by over 40 CEOs of large financial institutions. These signatories include banks, superannuation funds, sovereign wealth funds and insurance companies.

The full value of natural capital is currently not priced into the global economic system. The declaration aims to change this by helping the finance industry to value natural capital by:

  1. Creating systematic methods for financial institutions to assess their impacts and dependencies on natural capital through portfolios.
  2. Developing and testing methods to link natural capital to financial risks and opportunities.
  3. Working towards an accounting framework that includes natural capital.
  4. Working towards disclosure and reporting that enables financial institutions to understand how they are positioned for natural resource risks and opportunities.
Why VicSuper decided to become a signatory?

VicSuper has a long history of integrating the consideration of environmental, social and governance factors into the way we invest and operate our business. Signing the Natural Capital Declaration forms part of our Corporate Responsibility Strategy and supports our commitments to industry engagement and advocacy.

“We are interested to see how the NCD helps the investment industry drive the capture and reporting of natural capital data at the company and industry level. We believe that more comprehensive disclosure and analysis of natural capital risks, impacts and performance by companies will help our external investment managers to make more informed, balanced and longer term investment decisions.” - Michael Dundon, VicSuper CEO.

What role will VicSuper play?

VicSuper has been appointed as the Vice-Chair of one of the declaration’s key working groups. Through this working group we will contribute to the development of a global disclosure framework and guidance for financial institutions on natural capital.

I'm excited to take on the role as Vice-Chair of the working group on disclosure and reporting. Undertaking advocacy and engagement on valuing natural capital at the international level, and helping to shape frameworks and industry understanding aligns perfectly with our Corporate Responsibility Strategy”. – Kirsten Simpson, VicSuper Manager Corporate Responsibility.

To find out more see the official press release.

VicSuper is proud to announce that we are the first Australian superannuation fund to formally become a signatory of the Natural Capital Declaration.

What is Natural Capital?

Natural capital is the land, air, water, forests and living organisms on the planet. Industries including farming, manufacturing, mining, technology and infrastructure all use these environmental resources as raw inputs. As such, the health and availability of natural capital underpins all human economic activity.

What is the Natural Capital Declaration?

The Natural Capital Declaration is a global initiative for financial institutions. It is run by the United Nations Environment Program Finance Initiative (UNEPFI) and the Global Canopy Programme. To date, the declaration has been signed by over 40 CEOs of large financial institutions. These signatories include banks, superannuation funds, sovereign wealth funds and insurance companies.

The full value of natural capital is currently not priced into the global economic system. The declaration aims to change this by helping the finance industry to value natural capital by:

  1. Creating systematic methods for financial institutions to assess their impacts and dependencies on natural capital through portfolios.
  2. Developing and testing methods to link natural capital to financial risks and opportunities.
  3. Working towards an accounting framework that includes natural capital.
  4. Working towards disclosure and reporting that enables financial institutions to understand how they are positioned for natural resource risks and opportunities.
Why VicSuper decided to become a signatory?

VicSuper has a long history of integrating the consideration of environmental, social and governance factors into the way we invest and operate our business. Signing the Natural Capital Declaration forms part of our Corporate Responsibility Strategy and supports our commitments to industry engagement and advocacy.

“We are interested to see how the NCD helps the investment industry drive the capture and reporting of natural capital data at the company and industry level. We believe that more comprehensive disclosure and analysis of natural capital risks, impacts and performance by companies will help our external investment managers to make more informed, balanced and longer term investment decisions.” - Michael Dundon, VicSuper CEO.

What role will VicSuper play?

VicSuper has been appointed as the Vice-Chair of one of the declaration’s key working groups. Through this working group we will contribute to the development of a global disclosure framework and guidance for financial institutions on natural capital.

I'm excited to take on the role as Vice-Chair of the working group on disclosure and reporting. Undertaking advocacy and engagement on valuing natural capital at the international level, and helping to shape frameworks and industry understanding aligns perfectly with our Corporate Responsibility Strategy”. – Kirsten Simpson, VicSuper Manager Corporate Responsibility.

To find out more see the official press release.