Opposition financial services spokesman Stuart Robert says superannuation funds have no business pursuing social and environmental causes, as the libertarian Institute of Public Affairs heaps pressure on the Coalition to resist “woke capital”.some of the $3.3 trillion in assets held by super funds towards causes could be used for national priorities such as housing affordability, aged care and decarbonising the economy.
But Mr Robert, who was assistant treasurer in the first term of the Morrison government and has carriage of superannuation policy for the Dutton opposition, said funds were at risk of deviating from their core purpose.“Super [funds are] there to maximise returns for a dignified retirement,” Mr Robert told. “That’s their job, full stop. They’re not there to circumvent or to accompany government policy. [It’s] got nothing to do with government policies.
Dr Chalmers subsequently clarified he also believed funds should only be making investments in members’ best financial interests.
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But they need to pursue sovereign productive sustainable economic activity for the benefit of Australians economic wealth which requires consideration of national security
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Source: FinancialReview - 🏆 2. / 90 Read more »