Super Fund gains through carbon reduction
The NZ Super Fund has released a climate change report into how it manages and assesses climate-related risk and opportunities in its portfolio.
The report is based on reporting recommendations from the TCFD and also updates the Fund’s emission reduction targets through to 2025.
NZ Super Fund CEO Matt Whineray said that, “The NZ Super Fund must factor in the impacts of climate change on the markets we invest in and the businesses we own. As the global energy system transitions away from fossil fuels, some assets might become obsolete, uneconomic or lose value. Similarly, changing weather patterns and extreme events might expose other investments to increased physical risks.”
Recently the New Zealand government announced the country would become first in the world to require the financial sector, publicly listed companies and Crown Financial Institutions (including the NZ Super Fund) to report on climate risks, based on the TCFD framework.
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