Australians now expect fund managers to take an ethical approach to their investment portfolios and throughout their organisation, Brightlight Impact Advisory chief strategy officer Sam Richards says.
While the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry shines a light on poor behaviour, expectations are becoming higher for environmental, social and governance (ESG) standards to be met throughout corporate Australia, he says.
Richards says profit for purpose is no longer thought of as the domain of not-for-profit social enterprises based on people’s expectations.
“I think with super funds, the vast majority are owned by Australian citizens who care about outcomes for Australian citizens, so there is an expectation that they behave…
