theinstoreport: Weekly Round-up

04-Dec-2014

By Wouter Klijn

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Former energy and climate change minister Greg Combet started his speech at the La Trobe Financial and Fund Executives Association National Achievement Awards with the rather self-aware observation that his invitation to speak was a rather unusual choice of entertainment.

But whether Combet was flattered or bewildered, it did not deter him from making a passionate plea for raising the awareness of the impact and costs of ignoring climate change for superannuation members.

“You are rational people. I suspect that you respect science and empirical fact on which to base policy and strategy,” he told the audience of senior superannuation executives on Tuesday night in Melbourne.

“If you are of this nature, then you are going to respect climate science. And climate scientists internationally will tell you that we need to reduce greenhouse gases in the atmosphere to tackle this problem.

“I hope that in the coming years this is more widely discussed and appreciated in the investment community and also in the wider business community.

“It is important to think about these issues, amongst all the challenges that you might have.”

But to a degree, Combet was preaching to the converted.

In September, almost 350 global institutional investors urged governments to provide stable, reliable and economically meaningful carbon pricing so they could structure sound investment policies to address the issue.

The United Nations-backed Principles for Responsible Investment and its 1300 signatories, among which are many Australian funds, have for longer championed the case for a reduction in carbon-exposed investments.

Yet, considering the recent fallout over Australian National University’s decision to divest from companies heavily exposed to fossil fuels, it seems unlikely there will be any progress made in establishing an Australian framework for such a pricing.

For the full list of news stories published earlier this week, please see below.

Hostplus' Sicilia wins CIO of the year
Eaton Vance appoints insto sales director
CommInsure appoints head of industry funds
SS&C takes over DST Global Solutions
BestEx to launch semi-lit trading pool
Centric Wealth awards $100m to Vinva
APRA struggles with data storage

theinstoreport: Weekly Round-up gives an overview of articles published on the website during the week. These articles are in addition to the content of the newsletter.

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