New sustainability plan for Perpetual

Yasmine Raso

Senior Journalist, Financial Newswire

19 September 2022

Perpetual Limited has unveiled a new sustainability strategy to be rolled out across the business during this financial year called ‘Perpetual’s Prosperity Plan’, committing to a set standard of positive environmental and social impact.

In an announcement made to the Australian Securities Exchange (ASX) on Friday, the firm said the strategy comes after a period of “extensive” internal and external stakeholder engagement which has developed four key focus areas: Planet, People, Communities and Governance.

The Prosperity Plan has outlined Perpetual’s key commitments to make positive impact, including having carbon neutral operations by the end of FY23, operating on 100 per cent renewables by FY25, having women in 40 per cent of leadership roles by FY24 and launching a Global Human Rights Framework by FY25.

“As a growing business, we recognise the role that we play in helping to create a prosperous and sustainable future for our clients, our people and the communities we are a part of,” Rob Adams, Perpetual chief executive, said.

“A sustainable world underpins enduring wealth and prosperity, but it is being increasingly impacted by both environmental and social challenges.

“These are issues that the business and investment community can and should play a role in driving positive change and we must also have a role in managing both the risks and opportunities from the transition to a more sustainable future.

“Announcing our new sustainability strategy is an important milestone for Perpetual in clearly defining our commitments to contributing to positive change in these areas.

“As a growing global business, our new sustainability strategy covers all elements of our business, and the measurements we have put in place will ensure that we continue to help create a more equitable and sustainable world and advocate for positive change in the areas that are most important to our people, our clients and the communities we support.”

This comes as the firm continues to add environmental, social and governance (ESG) considerations to its suite of investment products, with the launch of its first active exchange traded fund (ETF) that invests in ethical and socially responsible Australian companies.