Superannuation
NGS Super sets up impact committee

The $11.7 billion superannuation fund has set up an internal impact committee to explore how it can make a positive impact in its operational spending.

NGS Super's impact committee will focus on two key areas: social procurement and sustainability and how the fund can work towards them through both its investments and business operations.

Speaking to Financial Standard, NGS Super chief executive Laura Wright said the idea was sparked at a Women In Super breakfast at Association of Superannuation Funds of Australia (ASFA) conference, where a speaker spoke on the topic.

"About 20 of our staff were interested and from that we chose a committee of about nine people, from interstate and different departments. We will have a rotation in about a year and give other people an opportunity," she said.

As the chief executive, Wright will sit on the committee. It doesn't have any board members and will soon have its first meeting.

"We will be looking at how we run our fund and things like who is our supplier, what they do and how they do it," Wright said, citing office supplies and cars as an example.

"Catering is a perfect example, we want to look at how we can source [it] from organisations run by people with disabilities or aboriginal people," she said.

The second job for the committee will be to look at its internal practices and implement more sustainable solutions to curb its negative impact on the environment.

"Overall, we want to make a positive impact with every dollar that we spend," Wright said.

NGS currently discloses how its equities holdings align with the United Nations Sustainable Development Goals (SDG).

This year, it will also release its first Task Force on Climate Related Disclosures (TCFD) report, identifying the risks and opportunities for its members' savings stemming from the climate change crisis.

NGS Super was among the top five funds for three-year risk-adjusted returns, to September end, according to Rainmaker.

Last year, it mandated AllianceBernstein to manage $170 million in a low-carbon equities portfolio.

Also last year, its chief investment officer Ben Squires earned a spot on Public Investor 100, compiled annually by the Sovereign Wealth Fund Institute (SWFI).

The list, which was topped by Future Fund chief executive David Neal, ranks executives at the world's largest sovereign funds, pensions, endowments, foundations and central banks.

Read more: NGS SuperLaura WrightAssociation of Superannuation Funds of AustraliaWomen In Super
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