general chat/ thoughts, page-553

Looks like the miners will be facing more pressure to implement strategies to mitigate their existing dirty practices, or face mass exodus by the big fundies to reduce exposure to carbon intensive investments. The future looks like it's starting to be dictated to the miners and thank god for that too. Enter PWN and their solution to cleanse waste streams whilst providing a further revenue stream...

NGS Super commits to zero emission exposure by 2030

By Charlotte Grieve

The $12.8 billion superannuation fund for education and community-focused organisations, NGS Super, has committed to having net zero emissions across its investment portfolios by 2030.

NGS Super chief investment officer Ben Squires said his team will spend the next 12 months measuring the carbon footprint of all the fund’s assets and developing a plan to reach its goal.

NGS Super chief investment officer Ben Squires said his team will spend the next 12 months measuring the carbon footprint of all the fund’s assets and developing a plan to reach its goal.CREDIT:AP

Mr Squires said measuring the carbon budget of its equities portfolios was “reasonably easy” but extending this to infrastructure and property will be more labour intensive.

A string of industry super funds, including AustralianSuper and HESTA, have made commitments to achieve net zero emissions by 2050, but Mr Squires said it was important to reach these goals earlier.

“We think it’s the right thing to do. When you look at the science, 2050 is too far away. We need to speed the rate in which we decarbonise to really revere the effects of human-induced climate change,” he said.

“We think we can do it, do it faster and without compromising returns.“

Part of NGS’s plan to reach net zero emissions will involve ramping up its engagement with high emitting companies to pressure them into transitioning to sustainable operations, Mr Squires said.
“If we identify companies or managers that aren’t able to transition or are unwilling to transition, divestment would be the natural course.”