$41 Billion Pension Fund Settles Australian Climate Change Lawsuit
- Sydney-based Rest commits to net zero emissions by 2050
- Case may spur similar litigation globally on climate risk
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A $41 billion pension fund sued in Australia over its disclosure of climate change risks settled the lawsuit on Monday with a commitment to net zero emissions in its portfolio by 2050 -- a case that may spur more litigation around the world.
Retail Employees Superannuation Trust also pledged to “enhance its consideration” of such risks when making investments, publicly reveal its holdings and monitor the approach of its external fund managers.