TelstraSuper signs on to Asset Ownership Code
August 21, 2019
We keep finding new ways to reinforce our commitment to responsible investing.
TelstraSuper has signed on to the Australian Asset Owner Stewardship Code (Code).
The voluntary Code was developed by the Australian Council of Superannuation Investors (ACSI) in 2018 as a way to increase the transparency and accountability of stewardship activities in Australia. It’s similar to Codes in other parts of the world.
By signing on to the Code, TelstraSuper will be joining 10 other super funds in leading the way to better disclosure.
What is stewardship?
Stewardship refers to the responsibility asset owners have to exercise their ownership rights to protect and enhance long-term investment value for their beneficiaries by promoting sustainable value creation in the companies in which they invest.
It can include a wide range of activities such as exercising voting rights, company engagement, monitoring investment managers and advocacy for change.
What does this mean for me?
At TelstraSuper we believe that effective stewardship is vital to protecting and enhancing long-term value for our members. We take these responsibilities seriously and are proud to be able to share this work with our members.
We’ve always been responsible asset owners – even before signing on to the Code – so our approach to responsible investing won’t change. Signing on to the Code simply means we’re committing to more transparency and accountability about the work we do. So, keep an eye out for improvements to the way we make disclosures about things like carbon exposure and proxy voting. We also hope to influence the greater investment industry to follow suit.
What will TelstraSuper do as part of the Code?
The Code contains six key principles that signatories must implement on an ‘if not, why not’ basis. This means if we don’t comply with a principle, we have to explain and publish why. TelstraSuper currently meets the broad requirements of all six principles, but we will be enhancing disclosure as part of a commitment to continuous improvement.
We’re also required to publish a Stewardship Statement on our website that explains how we meet these principles.
More information
You can find out more about our approach to responsible investing by visiting our Responsible Investment web page.