An innovative new NAB offering, finalised with $90 million from the Clean Energy Finance Corporation, has made it easier for super funds to back loans for clean energy projects.
Ahead of the G7 leaders summit in Canada, investors with US$26 trillion in assets under management have put governments and companies on notice that they want more action on climate change.
Encouraging the circular economy will be the next challenge for investors, and company claims about aligning their activities to UN Sustainable Development Goals must be treated with caution, according to Pablo Berrutti of Colonial First State GAM.
Local Government Super has backed a resolution that would require Rio Tinto to examine its links to mining industry associations and another calling on insurer QBE to follow global guidelines on climate risk disclosure.
ANZ has issued a 750-million-euro bond that will direct proceeds to projects that have environmental, social and economic benefits aligning with UN Sustainability Goals.
$9.2 billion industry super fund Vision Super says supporting climate resolutions and working with company management is far more effective than divesting from carbon-intensive assets.
A major international pension fund has deemed Origin Energy uninvestable because it owns a coal-fired power plant, and the world's largest sovereign wealth fund has received official advice to reduce its oil and gas investments.
Legislation that requires sustainability resolutions to achieve 75% support to succeed is too onerous, according to an association representing major industry super funds.