Wilson asked of the funds and companies to complete a table for the average return on all their investments over the past five years.
Indicative of the general tenor of answers provided to Wilson was that provided by Colonial First State which for 2019/20 revealed negative outcomes ranging from 7.10% for Commonwealth Essential Super to somewhat more palatable outcome of negative 0.30% for the company’s Encircle superannuation fund.
This compared to Fiducian reporting an average negative return of 1.3% for 2019/20, well down on the 9% reported in 2017/18.
These sorts of results compared to a positive 0.2% reported to the Australian Prudential Regulation Authority (APRA) by AustralianSuper and negative 2% reported by Hostplus.
Share There are some early signs the exuberance in the housing market may be peaking, he said. This isn t to say housing values are about reverse; a more likely scenario is the housing market is moving through a peak rate of growth and the pace of capital gains will gradually taper over coming months.
Listings of new homes on the market are 17 per cent above the five-year average, creating a risk of over-supply which puts a downward pressure on values.
The over-supply is exacerbated by the continuation of border closures, which strips new migrants out of the buying market.
26 April 2021
Company directors that rush to make net zero pledges without fully examining the firm’s ability to meet the goals could be guilty of “misleading or deceptive conduct” and vulnerable to regulatory or legal penalties.
They also have a legal obligation to act on climate risk, not just to disclose it, or face accusations of “greenwashing” that could carry real legal consequences.
Those are the opinions of lawyers Noel Hutley SC and Sebastian Hartford Davis, published in an official update to their landmark 2016 legal opinion entitled “Climate Change and Directors’ Duties”, commonly known as the Hutley opinion.
The update followed a business and regulatory roundtable on climate risk hosted by the Centre for Policy Development, and attended by major business groups including the Business Council of Australia, the Australian Institute of Company Directors and the Australian Chamber of Commerce and Industry.
Super giants to target directors on climate
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Australiaâs biggest superannuation funds will vote against the re-election of directors they believe have failed to manage climate risk appropriately, and step up the push for companies to give investors an annual vote on the climate progress.
ACSI chief executive Louise Davidson: âThere is still a lot of room for companies to move.âÂ
Wayne Taylor
ACSI expects ASX 200 companies that face âmaterialâ climate risks to set emission reduction targets that align to the Paris Agreement; disclose climate risks by adopting the methodology set out by the Task Force on Climate-related Financial Disclosures; and stress test their portfolio and strategy against various climate scenarios.
Australian super funds to vote against company directors not tackling climate crisis theguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theguardian.com Daily Mail and Mail on Sunday newspapers.