Use the form below to tell your fund
to lift its game on climate action!
Calling for Paris-alignment
Colonial First State has not demonstrated any evidence that it has called on any specific company to alter its strategy to bring it into line with the climate goals set out in the Paris Agreement. Colonial First State Global Asset Management (CFSGAM) had the opportunity to do just that at Whitehaven Coal’s October 2018 Annual General Meeting, but voted against a resolution expressing an opinion that Whitehaven’s strategy should align with the Paris climate goals.
CFSGAM is a member of the Climate Action 100+, which aims to encourage 100+ emissions-intensive companies to “Take action to reduce greenhouse gas emissions across their value chain, consistent with the Paris Agreement’s goal of limiting global average temperature increase to well below 2-degrees Celsius above pre-industrial levels.”
CFSGAM provides a discussion of scenario analysis conducted on its FirstChoice Australian Share Fund. While this is useful in demonstrating potential climate risk, much more detailed and broad analysis should be conducted and disclosed, particularly in relation to CFS’ superannuation options. CFSGAM plans to progress its scenario analysis in 2019, and is “currently investigating approaches to undertake further detailed scenario analysis of our investment portfolios.” CFSGAM also discloses detailed research into the carbon exposure of its equities strategies.
Climate voting record
CFS does not disclose how it voted on climate-related shareholder resolutions.
Latest news about super
The information provided by Market Forces does not constitute financial advice. The information is presented in order to inform people motivated by environmental concerns and take actions based on those concerns. Market Forces is organising data for environmental ends.
The information and actions provided by Market Forces do not account for any individual’s personal objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice.
Market Forces recommends all users obtain their own independent professional advice before making any decision relating to their particular requirements or circumstances. Switching super funds may have unintended financial consequences.
For more information about Market Forces, please visit the about page of the site. To see how we profile super funds go to the methodology page.