A turning point has emerged in the pensions industry: Australian super fund Future Super has becomethe world's first climate neutral pension fund with the help of South Pole Group, a global sustainability solutions provider. Spurred by global initiatives, like the UN PRI Montreal Carbon Pledge, the Portfolio Decarbonization Coalition and the Divestment Movement, the pension fund industry is now in full transition.
Ever since its inception, Future Super, one of Australia's most innovative and fastest growing superannuation funds has screened out investments in the fossil fuel industry. Today, it has upped the ante and become the world's first climate neutral super fund. The measurement of the fund's carbon intensity and the compensating offsets for its remaining emissions have both been managed by South Pole Group. Future Super has specifically chosen offsets from the Group's premium emission reduction projects located in China and Thailand that help to create renewable energy and reduce dependence on fossil fuels. These projects include proven and certified economic, social and environmental benefits for local communities.
Simon Sheikh, Managing Director of Future Super underlines: "We strongly believe in protecting the interests of our members. Future Super aims to be a true innovator in the industry. We believe the fossil fuel industry has far too many risks associated with it to be a responsible investment for the long term."