Superannuation funds should be ‘super investors’
While 90% of Australians believe superannuation funds’ role is to protect members’ savings, nearly two thirds want these funds to wield their investor muscle with the companies they invest in, according to CPA Australia – one of the world’s largest accounting bodies – in its 2006 Confidence in Corporate Reporting Survey.
Those surveyed wanted the funds to encourage better corporate governance practices and better social and environmental practices.
Two thirds were strongly in favour of super funds investing in R&D into sustainable energy and technology, with 63% believing this should be mandatory. Fifty eight percent said funds should be required to invest n general R&D and around 50% said they should be required to invest in social infrastructure such as hospitals and schools.
Funds investing in economic infrastructure such as roads and ports attracted the lowest support.
For more information visit www.cpaaustralia.com.au/links?cicr
