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- Title
INVESTING FOR A SAFE CLIMATE?
- Authors
FOERSTER, ANITA; SHEEHAN, KYM; PARRIS, DANIEL
- Abstract
Climate change is now widely recognised as a source of financial risk for institutional investors like superannuation funds, which may manifest as reduced asset values and investment returns. Investors are also facing increasing pressure to play a constructive role in society's response to climate change by aligning portfolios to the 2015 Paris Agreement on Climate Change. This article presents an empirical study of current and emerging climate-related investment practices in Australia, underpinned by an analysis of the legal, regulatory and theoretical frameworks in which investment decision-making takes place. While the study confirms that approaches to climate risk assessment and management are rapidly evolving, it also suggests that integrating climate considerations into investment decisionmaking and adopting responsible investment practices to manage climate-related risks is not encouraged by existing legal frameworks and dominant, mainstream approaches to investment. There remain considerable legal and practical barriers to aligning investment decision-making with the Paris Agreement.
- Subjects
AUSTRALIA; CLIMATE change; INVESTMENTS; DECISION making; PARIS Agreement (2016)
- Publication
University of New South Wales Law Journal, 2021, Vol 44, Issue 4, p1409
- ISSN
0313-0096
- Publication type
Article
- DOI
10.53637/rqqr9950