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Daily ESG Briefing: Aussie pension fund HESTA commits to Net Zero

The latest developments in sustainable finance

Australian superannuation fund HESTA has become the first in the country to commit to reducing the absolute carbon emissions in its investment portfolio by a third by 2030, and becoming Net Zero by 2050, in line with the goals of the Paris Agreement.

The Global Industry Standard on Tailings Management, which seeks to strengthen safety management at new and existing tailings dams around the world, has been endorsed by the co-convenors of the Global Tailings Review, the UN Environment Programme, the Principles for Responsible Investment and International Council on Mining and Metals. Once the details of the standard have been finalised, it will be translated and published – slated for the next few weeks.  

The Reconciliation and Responsible Investment Initiative has published a new report for Indigenous investors. The non-profit organisation offers six recommendations on how Indigenous investors can align the investment and stewardship of their assets with their communities’ values. Recommendations include encouraging trusts to incorporate a statement of values into investment policy statements and identifying opportunities to invest in the Indigenous economy. The Guide for Indigenous Investors is available here.

IFC, a member of the World Bank Group, has partnered with six global insurance companies, to mobilize $2bn in credit capacity under the Managed Co-Lending Portfolio Program (MCPP). IFC is the largest global development institution focused on the private sector in emerging markets. The initiative will allow IFC to increase its medium- and long-term lending to commercial banks and non-bank financial institutions in emerging markets by up to $5bn. The new partners are Aspen, AXA XL, Everest, Liberty Specialty Markets, Munich Re and Tokio Marine. 

ESG data provider RepRisk has partnered with Battlefin, an alternative data platform and marketplace, to offer ESG datasets to the alternative data community. Investors, hedge funds, and other buy-side professionals will be able to access RepRisk’s dataset on nearly 150,000 companies linked to ESG and business conduct risks. The data will be available to test, evaluate, and purchase through BattleFin’s global alternative data marketplace, Ensemble.