17
May
2018
|
00:00
Australia/Melbourne

Hostplus commits to ACSI's Stewardship Code by year-end

Summary

Hostplus is committed to becoming a signatory to the Australian Asset Owner Stewardship Code just launched by the Australian Council of Superannuation Investors (ACSI) before the end of 2018.

This is this first stewardship Code to focus exclusively on the activities of Australian asset owners, encouraging superannuation funds to play a key leadership role in setting stewardship standards that asset managers and companies can follow.

Hostplus CEO and ACSI Director David Elia said the $30 billion industry super fund will become a signatory of the Code to reinforce and enhance good stewardship practices.

Hostplus CEO David Elia
“This Code will help us raise the bar in proactively managing and disclosing the stewardship activities we are undertaking on behalf of our members.

We applaud ACSI for taking the lead in hardwiring stewardship into Australian asset owner’s policies, practices and disclosures. Increased transparency and accountability of stewardship activity is good for members and their long-term investment returns."
Hostplus CEO David Elia

ACSI CEO Louise Davidson said Australian asset owners have a long history of engaging with companies and voting shareholding to protect and enhance long-term value for their beneficiaries.

ACSI CEO Louise Davidson
“Signing up is an opportunity for asset owners to demonstrate that their intentions are backed by meaningful action. This is a strong basis from which to build trust and set the tone for stewardship in Australia."
ACSI CEO Louise Davidson

Hostplus already manages stewardship activities including voting, engagement and policy advocacy, either directly or indirectly through ACSI.

The fund is committed to making disclosure readily accessible to its 1.1 million members in the hospitality, tourism, recreation, sport and related-industries, and will continue to further enhance its approach as stewardship practices develop over time.

For more information on Hostplus' investment governance approach and proxy voting records, visit: www.hostplus.com.au/super/about-us/investment-governance

 

About ACSI

Established in 2001, ACSI exists to provide a strong, collective voice on environmental, social and governance (ESG) issues on behalf of our members. Our members include 38 Australian and international asset owners and institutional investors. Collectively, they manage over $2.2 trillion in assets and own on average 10 per cent of every ASX200 company. Our members believe that ESG risks and opportunities have a material impact on investment outcomes. As fiduciary investors, they have a responsibility to act to enhance the long-term value of the savings entrusted to them. Through ACSI, our members collaborate to achieve genuine, measurable and permanent improvements in the ESG practices and performance of the companies they invest in.