Industry super funds are using their $3.5 trillion asset pool to influence companies on decent work conditions, secure contracts and banning sexual harassment.
Australia’s biggest super funds are tightening the screws on companies with poor track records on issues such as decent work conditions, secure contracts and sexual harassment, warning they willSuper fund CEOs Paul Schroder , Debby Blakey , Deanne Stewart , Vicki Doyle , Bern Reilly and Peter Chun are actively engaging with company boards, which they say will improve the value of their investments.
AustralianSuper chief executive Paul Schroder said workplace issues were a key area of engagement with companies, as did HESTA boss Debby Blakey, Rest Super CEO Vicki Doyle and UniSuper head Peter Chun.last month, flagging “decent work” as a priority engagement area.
“Generally, we seek to engage companies on any area where performance could be improved in order to enhance the value for our members,” Ms Doyle said. Mr Schroder said AustralianSuper’s active ownership strategy targeted maximising returns, as it was “always looking for and pressing for credible plans, credibly executed to create long term value”.
Ms Stewart said companies were responsive to funds’ engagement on climate change, workplace issues and gender diversity “on the whole”.