Government to help establish investment training centre
The Government will provide financial assistance to the Responsible Investment Association Australasia (RIAA) to establish an academic centre for responsible investment training, education and innovation.
The centre, the Responsible Investment Academy, will deliver a range of diploma and certificate education courses, which will help investors understand how environmental, social and governance (ESG) issues impact on investment practices.
“In response to growing evidence of the importance of environmental, social and governance factors, global investors and asset managers are increasingly integrating a broader assessment of risk into decision making,” said Nick Sherry, the minister for superannuation and corporate law.
Sherry has also asked the Australian Prudential Regulation Authority (APRA) to review its guidance to super funds to take greater account of ESG issues.
Super funds can have significant influence over the operation and corporate social responsibility of companies they invest in, Sherry said.
Sherry said fostering responsible investment practices would contribute to long-term profits in the corporate sector and deliver benefits to the community.
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