Super funds on notice as regulatory crackdown on greenwashing intensifies
As Active Super gets sued by the Australian Securities and Investments Commission, other super funds will feel pressure to beef up their processes and understanding of ESG to ensure they don't fail under regulatory scrutiny.
Australian Securities and Investments Commission (ASIC) decision to sue Active Super, the A$14 billion (US$8.6 billion) Australian super fund, for misleading stakeholders regarding its ethical and responsible investment claims, is likely to trigger other super funds and investment players to strengthen their processes and capabilities around environment, social and governance (ESG) offerings.
“ASIC has commenced civil penalty proceedings … alleging misleading conduct and misrepres…
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