Page 4 - Active Super News Today

The corporate regulator has outlined its philosophy in dealing with greenwashing and the by-product of greenhushing, having already reported around 35 of such interventions since undertaking this strategic priority in the last year.

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The latest annual RIAA report has found concerns or mistrust around greenwashing by investment managers almost tripled this year, with 62 per cent citing it as a deterrent to responsible investment growth.

The demands from 500 members come as HESTA already faces a legal claim from a member over greenwashing.

The Australian Securities & Investment Commission’s Sarah Court has taken an active approach to enforcing, and indeed determining, the law and finding clarification from the courts. One practice of concern to Sarah Court, Deputy Chair, is “greenwashing.” Court says action has already been taken in many cases, and she lists the following examples: “The proceedings…

The fund marketed itself as responsible, but held gambling, tobacco and Russian stocks, ASIC alleges.

ASIC has filed a suit against Active Super over greenwashing claims, alleging, among other charges, that the super fund was invested in Russian assets after the invasion of Ukraine while purporting otherwise to members.

Active Super is accused of misleading customers about barring investments on ethical grounds. Read more at straitstimes.com.

The corporate regulator has commenced its third civil penalty proceedings for alleged greenwashing with the superannuation fund holding investments in Russia when it had listed it as an excluded country.

Comprising both small and mega super funds, these 10 growth funds have managed to deliver returns over 7.5 per cent per annum consistently for the last decade, according to Chant West.