Industry leader in sustainable investment - 1 April 2008

The inaugural Infinity Award was presented to the Australian Ethical Retail Superannuation Fund at the Conference of Major Super Funds (CMSF) in Brisbane on 19 March. The Award signifies the Fund as Australia’s most environmentally and socially conscious fund and a leader in sustainable investment and sustainable business practices. The Award sets a high benchmark for the rest of the industry to work towards, as a growing number of consumers are on the look-out for super funds that align with their commitment to sustainable and socially responsible investment practices. While there are a number of funds claiming to have green and socially responsible options, many of them cover only a few issues, yet their selectiveness is not clearly communicated to consumers.

“When the word ‘sustainable’ is dropped in, there is generally the assumption that the fund is environmentally and socially responsible throughout,” says Anne O’Donnell, CEO of Australian Ethical Investment.

“However, when you dig below the surface and look beyond the taglines, you find that some sustainable funds actually have a uranium mining company in their portfolios, for example.”

SuperRatings’ Managing Director, Jeff Bresnahan, agrees that there is a number of confusing messages being given to consumers, and that there is a need to cut through the clutter and determine those funds that are genuinely addressing all the key environmental and social issues.

The Infinity Award assists in this determination where a comprehensive review was undertaken on how a fund addressed issues such as sustainability, ethical investing, environmental awareness, responsible investing, and the treatment of workforces, both their own and those of their suppliers.

The presenter of the Award, SuperRatings, is Australia’s leading research company of Australia’s super funds, covering over 500 of Australia’s largest multi-employer super funds, personal super and pension funds.