AustralianSuper has amended its Australian finance investing social responsibility criteria.
The country's largest superannuation fund is removing its ethical exclusions from its investment selection criteria to better cater for the need and interest in its investor options.
It also committed to using best-of-sector sustainability methodology to guide future investment decisions.
AustralianSuper is set to write to members with super investments in either of the two options affected by change - the Sustainable Balanced and Australian Sustainable Shares options.
Changes came into force on January 13th, and the firm hopes that the new process "benchmarks economic, social, governance and sustainability performance that is appropriate to each sector and ranks the companies' performances against these benchmarks".
The firm hopes that this will act as a positive incentive for companies to improve their benchmark.
AustralianSuper had informed those that have investments in the fund that if they wanted it to make changes, they needed to have done so by January 10th, with changes taking effect from January 13th.
The country's largest superannuation fund is removing its ethical exclusions from its investment selection criteria to better cater for the need and interest in its investor options.
It also committed to using best-of-sector sustainability methodology to guide future investment decisions.
AustralianSuper is set to write to members with super investments in either of the two options affected by change - the Sustainable Balanced and Australian Sustainable Shares options.
Changes came into force on January 13th, and the firm hopes that the new process "benchmarks economic, social, governance and sustainability performance that is appropriate to each sector and ranks the companies' performances against these benchmarks".
The firm hopes that this will act as a positive incentive for companies to improve their benchmark.
AustralianSuper had informed those that have investments in the fund that if they wanted it to make changes, they needed to have done so by January 10th, with changes taking effect from January 13th.
