A lack of consistency in the labelling of sustainable investment options is contributing to confusion among investors as the $3.5 trillion superannuation industry responds to increasing demand from people looking to pivot their funds towards sustainable products.
In a survey of 1400 Australians conducted by Colonial First, less than a third were aware of ESG investing and sustainable investing, and less than six per cent understood it. Half didn’t understand the term “net-zero” and only 38 per cent understood the term “greenwashing”. In December, the government released a consultation paper on the development of an Australian climate risk disclosure framework. About 87 per cent of published submissions expressed support for the introduction of the climate-related financial risk disclosure framework. “These reporting requirements are expected to be mandatory for large entities and phase in over time,” treasurer Jim Chalmers said.
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