9 June 2023 14:02
The $72 billion HESTA announced on Friday it had hit its initial carbon reduction target of a 33 per cent in Scope 1 and Scope 2 emissions by 2030, some eight years ahead of plan.
The fund committed to cut Scope 1 and Scope 2 emissions by a third against a 2020 baseline but since revised the target last September to half those emission by 2030. HESTA however has not made any public commitments to cutting Scope 3 emissions which are indirect emissions from the supply chain of a firm.
Australia's superannuation funds have the financial weight to shape geopolitical outcomes but need to band together to avoid being “divided and conquered”, according to Tom Gregg, former senior UN official and mediator, and senior international adviser at Kessler Topaz Meltzer & Check.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
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