Cbus first Australian signatory to global investor statement
5 July 2016
Cbus Super is the first Australian investor to sign the Global Statement on Investor Obligations and Duties which calls on international, supranational and national policymakers to clarify and give effect to ESG obligations for investors.
The statement, launched in Paris on the 28th June 2016, arises from the work of the Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative (UNEP FI) and The Generation Foundation’s three year project to clarify investors’ obligations which found that; “Failing to consider long-term investment value drivers, which include ESG issues, in investment practice is a failure of fiduciary duty”.
The Global Statement on Investor Obligations and Duties specifically notes a lack of explicit and globally consistent mechanisms for investors to take account of ESG issues in their investment processes, in their dialogue with companies and in their engagement with policymakers.
Cbus CEO David Atkin said “Cbus has long been committed to principles of sustainability in our investment framework. We take the view, as do many Australian and international investors, that environmental, social and governance practices are critical components to long term stability and success in business and investing”
“We engage with the companies we invest in around their ESG practices because we want them to continue to provide strong, sustainable returns to members over the long term.”
“The global integration of the economy and the global profile of investment portfolios calls out the need to clarify obligations and duties in integrating ESG into investment practices so we are applying regulatory best practices consistently across all jurisdictions.
“We support the statement in its call on international, supranational and national policy makers to clarify investors’ obligations and duties and encourage other investors to do likewise” said Mr Atkin
For more information, please read the Global Statement.