Wednesday, July 6, 2022

Investment advisor Pru Bennett to lead ESG principles review

Responsible investment advisor Pru Bennett will head the review into the State’s investment funds to ensure they are leading the world in Environmental, Social and Governance (ESG) principles.

Treasurer Matt Kean said the review will investigate how the State can promote better outcomes for the planet and society, and long term value for NSW taxpayers.

“It’s up to us to make sure public money is invested in a way that leaves our planet and society in better shape than when we found it,” Mr Kean said.

“But this is also about protecting taxpayers, because over the long term, social and environmental risks become financial risks that will hit the bottom line.

MUST READ  'Punjab on the path to become global investment destination'

“Pru Bennett is a highly talented and well-credentialed leader in responsible investment and stewardship. She has the knowledge and expertise to conduct a robust review that will help NSW become a leader in this space.”

The NSW Government, under TCorp, has about $112 billion invested in NSW Government managed funds. All Government funds are subject to TCorp’s Investment Stewardship Policy, which integrates ESG principles into investment decision-making across portfolios.

Bennett was a Managing Director and Head of the Investment Stewardship team for the APAC Region at global asset manager BlackRock from 2010 to 2019. She is also currently a director of the UN Global Compact Network Australia.

MUST READ  Murray Cod fingerlings released in Macquarie river at Dubbo

“Putting ESG issues front and centre is increasingly important for both the private and public sectors to deliver a healthier economy, society and environment while also delivering against financial performance expectations,” Ms Bennett said.

MUST READ  Sydney's West in a mess as evacuations progress, trains delayed

“Investments in companies and organisations that themselves have incorporated ESG risks and opportunities as part of their overall strategy are seen as better positioned for the long term.”

The review is expected to be completed this year.

Latest news

Enjoy ungoogleable India: Khaver Ali Khan

By Indranil Halder As Sydney was battered with heavy rain, Khaver Ali Khan was my guest at the new Art Gallery of NSW member’s lounge....

Telstra stops 185 million scam texts reaching customers’ phones

Telstra's scam text filter has stopped a whopping 185 million scam texts from reaching its customers phones since it was launched in April. That means the filter...

UK’s Health minister Rishi Sunak quits, says ‘standards worth fighting for’

UK Finance Minister Rishi Sunak and Health Secretary Sajid Javid resigned on Tuesday, plunging Prime Minister Boris Johnson's government into crisis. Sunak, in his letter,...

Daniel Johns gets jail for drink driving, but will serve in community due to bad mental health

Rock star Daniel Johns has escaped a full time jail term after a magistrate found his life-long mental health battles had contributed to him...

Related news

Enjoy ungoogleable India: Khaver Ali Khan

By Indranil Halder As Sydney was battered with heavy rain, Khaver Ali Khan was my guest at the new Art Gallery of NSW member’s lounge....

Telstra stops 185 million scam texts reaching customers’ phones

UK’s Health minister Rishi Sunak quits, says ‘standards worth fighting for’

UK Finance Minister Rishi Sunak and Health Secretary Sajid Javid resigned on Tuesday, plunging Prime Minister Boris Johnson's government into crisis. Sunak, in his letter,...

Daniel Johns gets jail for drink driving, but will serve in community due to bad mental health

Rock star Daniel Johns has escaped a full time jail term after a magistrate found his life-long mental health battles had contributed to him...

Gosai Rajbari Influence : Cartier, Dhaniakhali Dhoti & Gold Polished Kangaroo Tiepin

By Indranil Halder Gosai Rajbari belongs to one of the most illustrious Goswami family and is situated in Serampore, Hoogly, West Bengal, India. Amitabha Sengupta...

Mansai: The first film in Rajbonshi language

By Indranil Halder After a gap of two years, I was delighted to attend the 2022 Sydney Film Festival and BUSINESS OF BAZ,(a conversation with...

6 killed in mass shooting at US Independence Day Parade near Chicago

Six people were killed and at least 24 wounded after gunfire erupted at a US Independence Day parade in a Chicago suburb today, authorities...

Tim English, Ed Richards set to return for Bulldogs-Swans clash

Tim English and Ed Richards will return for Western Bulldogs’ Friday night clash with Sydney as coach Luke Beveridge declares there are no “alarm...