Skip to main content

Industry funds welcome proposed ESG disclosure regime

Mike Taylor4 September 2023
Biodiversity ESG

Industry superannuation funds have told the Treasury that proposed new legislative arrangements around climate-related financial disclosure will help determine the sorts of companies they choose to invest in.

In a submission filed with Treasury, Industry Super Australia said the Government’s move to standardise climate disclosures by large businesses and financial institutions would help industry super funds to identify and consider climate and sustainability risks in entities in which they invest.

“It will also allow industry super funds to better track delivery of their own net zero carbon emission targets by improving the transparency of climate risk in the entities in which they invest,” the submission said.

At the same time, the ISA submission pointed out that superannuation funds faced unique challenges as disclosing entities under the proposed reforms.

“As asset owners and unlisted entities, they rely on different sources of information to listed entities to meet their disclosure obligations and have numerous investments they will need to report on, all which takes significant time and resources to both establish and manage ongoing,” it said.

Mike Taylor

Mike Taylor

Managing Editor/Publisher, Financial Newswire

Subscribe to comments
Be notified of
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
ISA asks more favours
5 months ago

Yep they are coming think and fast, Industry Super Australia with it’s now weekly demands on Government / ALP / ASIC / APRA & Treasury that ISA’s Funds should be treated differently.
It’s going to be too hard, too costly to provide ESG reports on ISA Unlisted Assets. So let’s make an exemption for ISA Fund owned assets hey.
Just like the ISA Unlisted Assets fraudulent so called Valuations.
Yep those ISA Unlisted Assets that only ever go up in value : – /