Business as usual is making the world unlivable, given mankind’s impact on the oceans and the planet overall. In fact, the World Economic Forum predicts that oceans will have more plastic from waste than fish by 2050, a catastrophic situation since the oceans drive global systems that make the Earth habitable for humankind.
Following the tragic mega-fires of 2019–2020, extreme floods and ongoing degradation of the Great Barrier Reef, many Australians are calling for more action on climate change. Much is at stake because the country is a large exporter of liquefied gas and coal. Superannuation funds are investors in Australia’s largest companies, including the emitters of greenhouse gases (GHGs), and can play an important role in helping to move to a greener economy.
To understand some of the challenges facing super funds as they balance a multitude of pressures from stakeholders, S&P Global Market Intelligence hosted a roundtable with asset owners, investors, climate consultants and economists to discuss the current situation and the perceived obstacles to moving forward. This article summarizes the discussion.
Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia