three year returns were included in any fee comparison, and were compared to Morningstar's nominated benchmark. Philippines evacuates close to 1 million as world's strongest typhoon of 2020 approaches, The biggest story of the century is unfolding but it's not safe to cover it, Anglican Church of Tasmania finalises $3.65 million of compensation to survivors of sexual abuse, Melbourne Cup field set as Ashrun gets final spot with Hotham Stakes win, Here's this year's Melbourne Cup field and form guide, If you want to understand the 2020 US election, 1968 is a good place to start, Trump's bid for re-election election holds a cruel irony for Australia, Holiday hot-spots are booking out. * InvestSMART's capped Management Fee (capped at $451p.a.) MinterEllison's special counsel Sarah Barker, an expert in corporate law and climate change, said companies could no longer wait for the Federal Government to introduce a carbon tax. Mills Oakley financial services partner Mark Bland said if McVeigh succeeds, it will set a new benchmark and could see the tide of funds managers dipping out of fossil fuel investments ramping up. The Federal Court will now also have to determine whether the super fund is in breach of its fiduciary duties — that is, its duty to act in the best interests of its members — by not taking enough action to mitigate climate-change-related risks. If the court agrees that REST has breached its fiduciary duties, it will not only change the way super funds invest people's retirement savings. "I think quite a few people didn't think that case would get as far as it has," she said. IMPORTANT: This information is general financial product advice only and you should consider the relevant product disclosure statement (PDS) or seek professional advice before making any investment decision. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Australian bosses have started caring about climate change, Mark wants to know if his super is protected from climate change. "There's also the potential for community groups and others to take the view that the Australian government isn't doing enough and look at how they can litigate off the back of that.". ASIC meanwhile has been conducting surveillance on how companies manage climate change risks, but as yet has not released those findings. "It's really the first test case on this issue in the world," she said. Australia's major banks have been getting back into fossil fuels over the past year, casting doubt on their seriousness in tackling climate change through their investments. REST was also limited in comments it could make but a company spokesman said that as the custodian of almost $60 billion in retirement savings, "managing climate change risks is an important part of REST's focus on delivering long-term investment returns for our 1.7 million members". For more information about fees and costs, please see the Product Disclosure Statement and Investment Menu. "Super funds sustainably investing people's money will make everyone better off," Mr McVeigh said. For the effect of fees on your cumulative returns, please see our report How Fees Can Destroy Your Wealth. Past performance is not a reliable indicator of future performance. ", "The major economic transition underway presents substantial risks to businesses that are not adequately prepared but it also offers opportunities for forward-thinking economies and businesses.". Product disclosure statements for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. The McVeigh case also comes in the context of greater shareholder action against company directors at AGMs on climate change, and the giants of the financial sector themselves highlighting that climate change is a financial risk. While it lost that case, Ms de Wit said there would be more litigation coming from others and this time the claimants may be able to pinpoint exactly who is to blame, with the help of climate attribution science. "Originally the case was about disclosure … but then it brought up further questions about are [REST] taking into account any climate change risks in their assessments?". Elisa de Wit, a partner at law firm Norton Rose Fulbright specialising in environmental law, believes the legal precedent set in the McVeigh case will potentially have relevance for pension funds, and possibly companies, worldwide. REST is an industry super fund tailored towards the retail sector and open to all Australians with almost 2 million members. This can be useful when comparing super funds and finding which ones on average are providing the best returns, although previous performance should not be regarded as a guarantee of future success. He calls their leader a 'thug'. "Even if McVeigh wasn't to be successful, there may be commentary [from judges] in the case that could be used by other judges in Australia as well as other jurisdictions overseas," she said. So he's taking his fund to court, Ross Garnaut's climate change prediction is coming true and experts warn it's going to cost the nation billions, Australia's biggest companies ignore climate change risk: report, Why Australian company directors have started caring about climate change, Annastacia Palaszczuk re-elected Queensland Premier as Labor claims election victory, Jackie Trad unseated in South Brisbane — a bruising election loss for a party high-flyer, Foreign Minister welcomes Qatar PM's 'sincere apology' for airport search debacle, James Bond actor Sir Sean Connery dies aged 90 with his family around him, More than 44,000 homes without power as hail up to 14cm pummels parts of south-east Queensland, Ruthless All Blacks score record victory over Wallabies to retain Bledisloe Cup, Parents of murdered Queensland schoolboy Daniel Morcombe welcome grandchild on Day for Daniel, Rescuers work to reach family of five as earthquake death toll reaches 28 in Turkey, Greece. This may not include all funds available for retail investment in Australia. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. In July, a landmark trial will take place in a Sydney courtroom that could potentially change the way superannuation funds invest Australians' almost $3 trillion in retirement savings. REST was also limited in comments it could make but a company spokesman said that as the custodian of almost $60 billion in retirement savings, "managing climate change risks … You should consider the product disclosure statement before making a decision about a product. "When climate change became a financial risk, it became a legal risk," Ms Herd said. Both Australia's superannuation fund regulator, the Australian Prudential Regulation Authority (APRA), and the corporate watchdog, the Australian Securities and Investment Commission (ASIC), have repeatedly spoken out about the threats of climate change and the risks to companies. Now it could shift to actions specifically against companies. But every state has last-minute alternatives to try, 'The water seemed to boil': Rarely seen footage of the aftermath of a PM's disappearance, A notification pinged on my screen — Instagram had struck again, his case against $57 billion superannuation fund Retail Employees Superannuation Trust (REST), 2009 United Nations Climate Change Conference. Mr McVeigh has alleged that REST has failed to protect his retirement savings from the financial devastation that will flow from climate change. But Jacqueline Peel, a professor and environmental law expert from Melbourne University, said the case will influence how companies broadly think about how they address climate change risks. Still reeling from recent terror attacks, why is France in the firing line? Fund data sourced from Morningstar. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance. This week the CEO of the world's largest funds manager, BlackRock's Larry Fink, announced the $US1.8 trillion ($2.6 trillion) in assets the fund actively manages will no longer be invested in companies that generate more than 25 per cent of their revenue from thermal coal production. brokerage and assuming dividends re-invested and no withdrawals. Relative Fund Performance vs {{ fund.benchmark.peers.peerCount }} peers using {{ fund.benchmark.name }} as their benchmark. "And my job is, as a capitalist, to help prepare our clients for the redistribution of capital," Mr Fink said. Experts warn it could pave the way for further litigation. The {{ modelPortfolio.name }} portfolio has fair and transparent fees to help you keep more money in your pocket. It is this belief that led to his case against $57 billion superannuation fund Retail Employees Superannuation Trust (REST). This may not include all funds available for retail investment in Australia. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. {{ modelPortfolio.mer * 100 | number:2 }}, {{ fund.benchmark.peers.mer * 100 | number:2 }}, Average of peers ({{ fund.benchmark.peers.peerCount }}), Market index (Morningstar Aus Msec Growth TR AUD), Copyright © 1999-2020 InvestSMART Financial Services Pty Ltd. All rights reserved | Australian Financial Services Licensee: AFSL # 226435 | ABN 70 089 038 531 |, {{ fund.benchmark.peers.peerCount }} peers, Intelligent Investor Australian Growth Fund (formerly the Small Companies Fund), REST Super Core Strategy - Managed fund profile. Behavior Documentation Form, Baby Monkey For Sale, Born To Be Bad Book, Duke Pay Scale, Masaniello Menu, Security Cabinet For Guns, The Eight Menu Price, Zelda: Ocarina Of Time Pc, What Must Be Will Be, Gary Mccord 1994 Masters, Tony Larussa Stats, Skyswing Rotorua, It Meaning Computer, Oksana Malaysia, Yung Bans Playboi Carti High As Us, Hitchcock/truffaut Documentary Watch Online, Yelp Equivalent In Australia, Rudy Ray Moore Daughter, The Mandarin Actor, Zillah Jade Amey Age, Batavia, New York, Is Cheerleading A Sport 2019, Meta Disciplines History, Menu Gordon Jones Bath Price, Crystal River Nuclear Plant, Gary Player Pitching Tips, Prototype 2 Release Date, Amsterdam Nightlife, Amp Components Warframe, Csm Energy, Onryō Mask, Kinda Like It Lyrics, Vardon Grip Benefits, Feenin Pronunciation, Ing Living Super Fees, Macgruber Netflix Series, Lauren Lapkus Looks Like, Connected Netflix, 1000 Va To Watts, Joyo Pedals Clone List, Greg Norman Daughter, Barbie Doll Sets, Barnyard Dawg, Thai 5 Sushi, How To Tab In Gmail Mac, Nelly Dilemma Lyrics, Mediawiki Docker, Dean Jagger Net Worth, What Happens When Salt Dissolves In Water, Why Input Impedance Should Be High, Mixed Blood Theater Donation Request, Condensatore Piano, Behringer V-tone Guitar Amp, Uncork'd Frisco Menu, Black And Tan Coonhound Temperament, Miss Porter's, Lithium Content Calculator, Update, Google Search Engine, Juice Chris Brown Lyrics, Berkeley County Humane Society Available Dogs, Vans Europe, Actions Tab Missing In Outlook 2016, Amsterdam Nightlife, How Many Amps Do I Need For My House, Southside 2020, Who Has More Hits Chris Brown Or Usher, Akina Sushi, Amp Meter Data Logger, Southern Company Services, Inc, Amicalola Emc Power Outages Map, Tiered Support Model School, Tengu Mask Drawing, Sushi Umi Thornton Menu, 1 Mega Ohm Colour Code, Problems Slaves Faced, Queenstown Temperature, Artsakh Hotels, Bodeli Menu, Fig Symbolism, Nobu Houston Reviews, Sergio Garcia Clubs, That Awkward Moment Quotes About Relationships, Best Yakiniku In Tokyo, Seopress Documentation, Add Meta Box Wordpress Custom Post Type, An Angel At My Table Book Pdf, Revolver Meaning In Tamil, 5 Levels Of Leadership Examples, Mina Anwar Net Worth, Carmen Botín O'shea, " /> three year returns were included in any fee comparison, and were compared to Morningstar's nominated benchmark. Philippines evacuates close to 1 million as world's strongest typhoon of 2020 approaches, The biggest story of the century is unfolding but it's not safe to cover it, Anglican Church of Tasmania finalises $3.65 million of compensation to survivors of sexual abuse, Melbourne Cup field set as Ashrun gets final spot with Hotham Stakes win, Here's this year's Melbourne Cup field and form guide, If you want to understand the 2020 US election, 1968 is a good place to start, Trump's bid for re-election election holds a cruel irony for Australia, Holiday hot-spots are booking out. * InvestSMART's capped Management Fee (capped at $451p.a.) MinterEllison's special counsel Sarah Barker, an expert in corporate law and climate change, said companies could no longer wait for the Federal Government to introduce a carbon tax. Mills Oakley financial services partner Mark Bland said if McVeigh succeeds, it will set a new benchmark and could see the tide of funds managers dipping out of fossil fuel investments ramping up. The Federal Court will now also have to determine whether the super fund is in breach of its fiduciary duties — that is, its duty to act in the best interests of its members — by not taking enough action to mitigate climate-change-related risks. If the court agrees that REST has breached its fiduciary duties, it will not only change the way super funds invest people's retirement savings. "I think quite a few people didn't think that case would get as far as it has," she said. IMPORTANT: This information is general financial product advice only and you should consider the relevant product disclosure statement (PDS) or seek professional advice before making any investment decision. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Australian bosses have started caring about climate change, Mark wants to know if his super is protected from climate change. "There's also the potential for community groups and others to take the view that the Australian government isn't doing enough and look at how they can litigate off the back of that.". ASIC meanwhile has been conducting surveillance on how companies manage climate change risks, but as yet has not released those findings. "It's really the first test case on this issue in the world," she said. Australia's major banks have been getting back into fossil fuels over the past year, casting doubt on their seriousness in tackling climate change through their investments. REST was also limited in comments it could make but a company spokesman said that as the custodian of almost $60 billion in retirement savings, "managing climate change risks is an important part of REST's focus on delivering long-term investment returns for our 1.7 million members". For more information about fees and costs, please see the Product Disclosure Statement and Investment Menu. "Super funds sustainably investing people's money will make everyone better off," Mr McVeigh said. For the effect of fees on your cumulative returns, please see our report How Fees Can Destroy Your Wealth. Past performance is not a reliable indicator of future performance. ", "The major economic transition underway presents substantial risks to businesses that are not adequately prepared but it also offers opportunities for forward-thinking economies and businesses.". Product disclosure statements for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. The McVeigh case also comes in the context of greater shareholder action against company directors at AGMs on climate change, and the giants of the financial sector themselves highlighting that climate change is a financial risk. While it lost that case, Ms de Wit said there would be more litigation coming from others and this time the claimants may be able to pinpoint exactly who is to blame, with the help of climate attribution science. "Originally the case was about disclosure … but then it brought up further questions about are [REST] taking into account any climate change risks in their assessments?". Elisa de Wit, a partner at law firm Norton Rose Fulbright specialising in environmental law, believes the legal precedent set in the McVeigh case will potentially have relevance for pension funds, and possibly companies, worldwide. REST is an industry super fund tailored towards the retail sector and open to all Australians with almost 2 million members. This can be useful when comparing super funds and finding which ones on average are providing the best returns, although previous performance should not be regarded as a guarantee of future success. He calls their leader a 'thug'. "Even if McVeigh wasn't to be successful, there may be commentary [from judges] in the case that could be used by other judges in Australia as well as other jurisdictions overseas," she said. So he's taking his fund to court, Ross Garnaut's climate change prediction is coming true and experts warn it's going to cost the nation billions, Australia's biggest companies ignore climate change risk: report, Why Australian company directors have started caring about climate change, Annastacia Palaszczuk re-elected Queensland Premier as Labor claims election victory, Jackie Trad unseated in South Brisbane — a bruising election loss for a party high-flyer, Foreign Minister welcomes Qatar PM's 'sincere apology' for airport search debacle, James Bond actor Sir Sean Connery dies aged 90 with his family around him, More than 44,000 homes without power as hail up to 14cm pummels parts of south-east Queensland, Ruthless All Blacks score record victory over Wallabies to retain Bledisloe Cup, Parents of murdered Queensland schoolboy Daniel Morcombe welcome grandchild on Day for Daniel, Rescuers work to reach family of five as earthquake death toll reaches 28 in Turkey, Greece. This may not include all funds available for retail investment in Australia. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. In July, a landmark trial will take place in a Sydney courtroom that could potentially change the way superannuation funds invest Australians' almost $3 trillion in retirement savings. REST was also limited in comments it could make but a company spokesman said that as the custodian of almost $60 billion in retirement savings, "managing climate change risks … You should consider the product disclosure statement before making a decision about a product. "When climate change became a financial risk, it became a legal risk," Ms Herd said. Both Australia's superannuation fund regulator, the Australian Prudential Regulation Authority (APRA), and the corporate watchdog, the Australian Securities and Investment Commission (ASIC), have repeatedly spoken out about the threats of climate change and the risks to companies. Now it could shift to actions specifically against companies. But every state has last-minute alternatives to try, 'The water seemed to boil': Rarely seen footage of the aftermath of a PM's disappearance, A notification pinged on my screen — Instagram had struck again, his case against $57 billion superannuation fund Retail Employees Superannuation Trust (REST), 2009 United Nations Climate Change Conference. Mr McVeigh has alleged that REST has failed to protect his retirement savings from the financial devastation that will flow from climate change. But Jacqueline Peel, a professor and environmental law expert from Melbourne University, said the case will influence how companies broadly think about how they address climate change risks. Still reeling from recent terror attacks, why is France in the firing line? Fund data sourced from Morningstar. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance. This week the CEO of the world's largest funds manager, BlackRock's Larry Fink, announced the $US1.8 trillion ($2.6 trillion) in assets the fund actively manages will no longer be invested in companies that generate more than 25 per cent of their revenue from thermal coal production. brokerage and assuming dividends re-invested and no withdrawals. Relative Fund Performance vs {{ fund.benchmark.peers.peerCount }} peers using {{ fund.benchmark.name }} as their benchmark. "And my job is, as a capitalist, to help prepare our clients for the redistribution of capital," Mr Fink said. Experts warn it could pave the way for further litigation. The {{ modelPortfolio.name }} portfolio has fair and transparent fees to help you keep more money in your pocket. It is this belief that led to his case against $57 billion superannuation fund Retail Employees Superannuation Trust (REST). This may not include all funds available for retail investment in Australia. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. {{ modelPortfolio.mer * 100 | number:2 }}, {{ fund.benchmark.peers.mer * 100 | number:2 }}, Average of peers ({{ fund.benchmark.peers.peerCount }}), Market index (Morningstar Aus Msec Growth TR AUD), Copyright © 1999-2020 InvestSMART Financial Services Pty Ltd. All rights reserved | Australian Financial Services Licensee: AFSL # 226435 | ABN 70 089 038 531 |, {{ fund.benchmark.peers.peerCount }} peers, Intelligent Investor Australian Growth Fund (formerly the Small Companies Fund), REST Super Core Strategy - Managed fund profile. Behavior Documentation Form, Baby Monkey For Sale, Born To Be Bad Book, Duke Pay Scale, Masaniello Menu, Security Cabinet For Guns, The Eight Menu Price, Zelda: Ocarina Of Time Pc, What Must Be Will Be, Gary Mccord 1994 Masters, Tony Larussa Stats, Skyswing Rotorua, It Meaning Computer, Oksana Malaysia, Yung Bans Playboi Carti High As Us, Hitchcock/truffaut Documentary Watch Online, Yelp Equivalent In Australia, Rudy Ray Moore Daughter, The Mandarin Actor, Zillah Jade Amey Age, Batavia, New York, Is Cheerleading A Sport 2019, Meta Disciplines History, Menu Gordon Jones Bath Price, Crystal River Nuclear Plant, Gary Player Pitching Tips, Prototype 2 Release Date, Amsterdam Nightlife, Amp Components Warframe, Csm Energy, Onryō Mask, Kinda Like It Lyrics, Vardon Grip Benefits, Feenin Pronunciation, Ing Living Super Fees, Macgruber Netflix Series, Lauren Lapkus Looks Like, Connected Netflix, 1000 Va To Watts, Joyo Pedals Clone List, Greg Norman Daughter, Barbie Doll Sets, Barnyard Dawg, Thai 5 Sushi, How To Tab In Gmail Mac, Nelly Dilemma Lyrics, Mediawiki Docker, Dean Jagger Net Worth, What Happens When Salt Dissolves In Water, Why Input Impedance Should Be High, Mixed Blood Theater Donation Request, Condensatore Piano, Behringer V-tone Guitar Amp, Uncork'd Frisco Menu, Black And Tan Coonhound Temperament, Miss Porter's, Lithium Content Calculator, Update, Google Search Engine, Juice Chris Brown Lyrics, Berkeley County Humane Society Available Dogs, Vans Europe, Actions Tab Missing In Outlook 2016, Amsterdam Nightlife, How Many Amps Do I Need For My House, Southside 2020, Who Has More Hits Chris Brown Or Usher, Akina Sushi, Amp Meter Data Logger, Southern Company Services, Inc, Amicalola Emc Power Outages Map, Tiered Support Model School, Tengu Mask Drawing, Sushi Umi Thornton Menu, 1 Mega Ohm Colour Code, Problems Slaves Faced, Queenstown Temperature, Artsakh Hotels, Bodeli Menu, Fig Symbolism, Nobu Houston Reviews, Sergio Garcia Clubs, That Awkward Moment Quotes About Relationships, Best Yakiniku In Tokyo, Seopress Documentation, Add Meta Box Wordpress Custom Post Type, An Angel At My Table Book Pdf, Revolver Meaning In Tamil, 5 Levels Of Leadership Examples, Mina Anwar Net Worth, Carmen Botín O'shea, " />
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She thinks the McVeigh case will at least establish the parameters for how others pursue litigation against the private sector. Historical performance is not a reliable indicator of future performance. Performance – Super funds like REST Super are required to provide details on how investments made by the fund have performed over time. Whilst every care has been taken in producing these numbers, InvestSMART does not guarantee the accuracy of the figures produced in the table. Jonathan Steffanoni, partner at superannuation law firm QMV Legal, thinks the case could have ramifications for global pension funds but believes it is unlikely to set a precedent for similar action against company directors. An annual review of the 100 largest super funds by investment adviser Stockspot has found AMP has the highest number of so-called "fat cat funds", with 12 … A tax event may be realised as a result of switching investments. "It could impact on company share prices and see shareholders exit from those investments.". The New York Attorney-General's office recently tried to sue ExxonMobil, which it accused of defrauding investors by misleading them about the financial risks the company faced from climate change regulations. Find out more at Eureka Report The parties in the case are required to attend mediation by April 10 and the case is set for a three-day trial starting on July 20. "2020 could be a big year for climate-change-related litigation," she said, adding that philanthropic groups in Europe were now also backing such litigation globally. A judicial determination in McVeigh could also give regulators a stronger platform to enforce standards on industry. "Proving that link has been tricky to date," she said. Mr Fink, who has faced much pressure from climate change activists over the years, told US media that he made the decision not because he was an "environmentalist" but because he was a "capitalist". Ross Garnaut's climate change prediction is coming true and it's going to cost Australia billions, economists warn. Only funds with > three year returns were included in any fee comparison, and were compared to Morningstar's nominated benchmark. Philippines evacuates close to 1 million as world's strongest typhoon of 2020 approaches, The biggest story of the century is unfolding but it's not safe to cover it, Anglican Church of Tasmania finalises $3.65 million of compensation to survivors of sexual abuse, Melbourne Cup field set as Ashrun gets final spot with Hotham Stakes win, Here's this year's Melbourne Cup field and form guide, If you want to understand the 2020 US election, 1968 is a good place to start, Trump's bid for re-election election holds a cruel irony for Australia, Holiday hot-spots are booking out. * InvestSMART's capped Management Fee (capped at $451p.a.) MinterEllison's special counsel Sarah Barker, an expert in corporate law and climate change, said companies could no longer wait for the Federal Government to introduce a carbon tax. Mills Oakley financial services partner Mark Bland said if McVeigh succeeds, it will set a new benchmark and could see the tide of funds managers dipping out of fossil fuel investments ramping up. The Federal Court will now also have to determine whether the super fund is in breach of its fiduciary duties — that is, its duty to act in the best interests of its members — by not taking enough action to mitigate climate-change-related risks. If the court agrees that REST has breached its fiduciary duties, it will not only change the way super funds invest people's retirement savings. "I think quite a few people didn't think that case would get as far as it has," she said. IMPORTANT: This information is general financial product advice only and you should consider the relevant product disclosure statement (PDS) or seek professional advice before making any investment decision. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Australian bosses have started caring about climate change, Mark wants to know if his super is protected from climate change. "There's also the potential for community groups and others to take the view that the Australian government isn't doing enough and look at how they can litigate off the back of that.". ASIC meanwhile has been conducting surveillance on how companies manage climate change risks, but as yet has not released those findings. "It's really the first test case on this issue in the world," she said. Australia's major banks have been getting back into fossil fuels over the past year, casting doubt on their seriousness in tackling climate change through their investments. REST was also limited in comments it could make but a company spokesman said that as the custodian of almost $60 billion in retirement savings, "managing climate change risks is an important part of REST's focus on delivering long-term investment returns for our 1.7 million members". For more information about fees and costs, please see the Product Disclosure Statement and Investment Menu. "Super funds sustainably investing people's money will make everyone better off," Mr McVeigh said. For the effect of fees on your cumulative returns, please see our report How Fees Can Destroy Your Wealth. Past performance is not a reliable indicator of future performance. ", "The major economic transition underway presents substantial risks to businesses that are not adequately prepared but it also offers opportunities for forward-thinking economies and businesses.". Product disclosure statements for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. The McVeigh case also comes in the context of greater shareholder action against company directors at AGMs on climate change, and the giants of the financial sector themselves highlighting that climate change is a financial risk. While it lost that case, Ms de Wit said there would be more litigation coming from others and this time the claimants may be able to pinpoint exactly who is to blame, with the help of climate attribution science. "Originally the case was about disclosure … but then it brought up further questions about are [REST] taking into account any climate change risks in their assessments?". Elisa de Wit, a partner at law firm Norton Rose Fulbright specialising in environmental law, believes the legal precedent set in the McVeigh case will potentially have relevance for pension funds, and possibly companies, worldwide. REST is an industry super fund tailored towards the retail sector and open to all Australians with almost 2 million members. This can be useful when comparing super funds and finding which ones on average are providing the best returns, although previous performance should not be regarded as a guarantee of future success. He calls their leader a 'thug'. "Even if McVeigh wasn't to be successful, there may be commentary [from judges] in the case that could be used by other judges in Australia as well as other jurisdictions overseas," she said. So he's taking his fund to court, Ross Garnaut's climate change prediction is coming true and experts warn it's going to cost the nation billions, Australia's biggest companies ignore climate change risk: report, Why Australian company directors have started caring about climate change, Annastacia Palaszczuk re-elected Queensland Premier as Labor claims election victory, Jackie Trad unseated in South Brisbane — a bruising election loss for a party high-flyer, Foreign Minister welcomes Qatar PM's 'sincere apology' for airport search debacle, James Bond actor Sir Sean Connery dies aged 90 with his family around him, More than 44,000 homes without power as hail up to 14cm pummels parts of south-east Queensland, Ruthless All Blacks score record victory over Wallabies to retain Bledisloe Cup, Parents of murdered Queensland schoolboy Daniel Morcombe welcome grandchild on Day for Daniel, Rescuers work to reach family of five as earthquake death toll reaches 28 in Turkey, Greece. This may not include all funds available for retail investment in Australia. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. In July, a landmark trial will take place in a Sydney courtroom that could potentially change the way superannuation funds invest Australians' almost $3 trillion in retirement savings. REST was also limited in comments it could make but a company spokesman said that as the custodian of almost $60 billion in retirement savings, "managing climate change risks … You should consider the product disclosure statement before making a decision about a product. "When climate change became a financial risk, it became a legal risk," Ms Herd said. Both Australia's superannuation fund regulator, the Australian Prudential Regulation Authority (APRA), and the corporate watchdog, the Australian Securities and Investment Commission (ASIC), have repeatedly spoken out about the threats of climate change and the risks to companies. Now it could shift to actions specifically against companies. But every state has last-minute alternatives to try, 'The water seemed to boil': Rarely seen footage of the aftermath of a PM's disappearance, A notification pinged on my screen — Instagram had struck again, his case against $57 billion superannuation fund Retail Employees Superannuation Trust (REST), 2009 United Nations Climate Change Conference. Mr McVeigh has alleged that REST has failed to protect his retirement savings from the financial devastation that will flow from climate change. But Jacqueline Peel, a professor and environmental law expert from Melbourne University, said the case will influence how companies broadly think about how they address climate change risks. Still reeling from recent terror attacks, why is France in the firing line? Fund data sourced from Morningstar. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance. This week the CEO of the world's largest funds manager, BlackRock's Larry Fink, announced the $US1.8 trillion ($2.6 trillion) in assets the fund actively manages will no longer be invested in companies that generate more than 25 per cent of their revenue from thermal coal production. brokerage and assuming dividends re-invested and no withdrawals. Relative Fund Performance vs {{ fund.benchmark.peers.peerCount }} peers using {{ fund.benchmark.name }} as their benchmark. "And my job is, as a capitalist, to help prepare our clients for the redistribution of capital," Mr Fink said. Experts warn it could pave the way for further litigation. The {{ modelPortfolio.name }} portfolio has fair and transparent fees to help you keep more money in your pocket. It is this belief that led to his case against $57 billion superannuation fund Retail Employees Superannuation Trust (REST). This may not include all funds available for retail investment in Australia. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. {{ modelPortfolio.mer * 100 | number:2 }}, {{ fund.benchmark.peers.mer * 100 | number:2 }}, Average of peers ({{ fund.benchmark.peers.peerCount }}), Market index (Morningstar Aus Msec Growth TR AUD), Copyright © 1999-2020 InvestSMART Financial Services Pty Ltd. All rights reserved | Australian Financial Services Licensee: AFSL # 226435 | ABN 70 089 038 531 |, {{ fund.benchmark.peers.peerCount }} peers, Intelligent Investor Australian Growth Fund (formerly the Small Companies Fund), REST Super Core Strategy - Managed fund profile.

Behavior Documentation Form, Baby Monkey For Sale, Born To Be Bad Book, Duke Pay Scale, Masaniello Menu, Security Cabinet For Guns, The Eight Menu Price, Zelda: Ocarina Of Time Pc, What Must Be Will Be, Gary Mccord 1994 Masters, Tony Larussa Stats, Skyswing Rotorua, It Meaning Computer, Oksana Malaysia, Yung Bans Playboi Carti High As Us, Hitchcock/truffaut Documentary Watch Online, Yelp Equivalent In Australia, Rudy Ray Moore Daughter, The Mandarin Actor, Zillah Jade Amey Age, Batavia, New York, Is Cheerleading A Sport 2019, Meta Disciplines History, Menu Gordon Jones Bath Price, Crystal River Nuclear Plant, Gary Player Pitching Tips, Prototype 2 Release Date, Amsterdam Nightlife, Amp Components Warframe, Csm Energy, Onryō Mask, Kinda Like It Lyrics, Vardon Grip Benefits, Feenin Pronunciation, Ing Living Super Fees, Macgruber Netflix Series, Lauren Lapkus Looks Like, Connected Netflix, 1000 Va To Watts, Joyo Pedals Clone List, Greg Norman Daughter, Barbie Doll Sets, Barnyard Dawg, Thai 5 Sushi, How To Tab In Gmail Mac, Nelly Dilemma Lyrics, Mediawiki Docker, Dean Jagger Net Worth, What Happens When Salt Dissolves In Water, Why Input Impedance Should Be High, Mixed Blood Theater Donation Request, Condensatore Piano, Behringer V-tone Guitar Amp, Uncork'd Frisco Menu, Black And Tan Coonhound Temperament, Miss Porter's, Lithium Content Calculator, Update, Google Search Engine, Juice Chris Brown Lyrics, Berkeley County Humane Society Available Dogs, Vans Europe, Actions Tab Missing In Outlook 2016, Amsterdam Nightlife, How Many Amps Do I Need For My House, Southside 2020, Who Has More Hits Chris Brown Or Usher, Akina Sushi, Amp Meter Data Logger, Southern Company Services, Inc, Amicalola Emc Power Outages Map, Tiered Support Model School, Tengu Mask Drawing, Sushi Umi Thornton Menu, 1 Mega Ohm Colour Code, Problems Slaves Faced, Queenstown Temperature, Artsakh Hotels, Bodeli Menu, Fig Symbolism, Nobu Houston Reviews, Sergio Garcia Clubs, That Awkward Moment Quotes About Relationships, Best Yakiniku In Tokyo, Seopress Documentation, Add Meta Box Wordpress Custom Post Type, An Angel At My Table Book Pdf, Revolver Meaning In Tamil, 5 Levels Of Leadership Examples, Mina Anwar Net Worth, Carmen Botín O'shea,

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