The risk that your super could take a hit to its bottom line because of climate change could soon be something your fund is legally obliged to act on.
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| Mark McVeigh wants his super fund to disclose how it's managing the risks of climate change. |
That's because 23-year-old Mark McVeigh is suing a $50 billion super fund — and if he wins, the industry will likely never be the same.
Experts say the case could force super funds to do more to protect people's savings from the impacts of climate change.
And since super funds own about a quarter of the Australian stock exchange, that could change the way business is done across the country.
Read the ABC News story by Michael Slezak - “Super fund REST being sued for not having a plan for climate change.”
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