Industry super fund Vision Super is expanding its environmental, social and governance division with the help of a climate expert.
Vision Super is recruiting for an environmental activist who will join the climate action team and help promote the super fund's sustainable balanced option investment.
Chief executive Stephen Rowe said Vision Super is a signatory of the Paris Agreement and takes the risks posed by climate change seriously. He added the team was established to manage climate risk in investments and push for the policy changes at a national and international level.
"Markets are not pricing climate risk in appropriately, so we've already acted to reduce the carbon intensity of our portfolios to protect our members' retirement savings," Rowe said.
"We're also taking a shareholder activist approach, which has already made a real difference to emissions disclosures by companies like Exxon."
The climate action team comprises Rowe, chief investment officer Michael Wyrsch, and members of the investment and strategy teams. The climate expert will ideally have qualifications in environmental science or related fields and experience in the environmental movement.
Separately, the super fund with about $8.8 billion in funds under management, is due to release a joint study showing how the superannuation system is failing young workers in the age of the gig economy.
Together with the John Curtin Research Centre, the report will outline measures needed to address systemic issues with the system, including a new model for compulsory employer contributions to tackle the underpayment of young workers' super and the challenges of freelance work and underemployment.
The report is due for release in September.