Rest super fund

IN BRIEF : REST super fund is facing legal action from a 23-year old Queenslander for not providing any information on how it would mitigate climate change.

Super funds are legally required to disclose information for members to make decisions about their investments. However, its unknown if these laws cover strategies to deal with climate change risks.

Ecologist Mark McVeigh is testing these laws by suing his $50 billion super fund, REST.

The lawyers representing McVeigh, Environment Justice Australia, believe he has enough grounds to sue.

An investigation launched by The News Daily found that Australian super funds are actually the fifth best at addressing climate risk in the world, according to the Asset Owners Disclosure Project. Australia trails behind only Sweden, Norway, New Zealand and Finland.

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