Unisuper members are bracing for an overhaul of the $80 billion fund's approach to climate change after facing sustained pressure from academics and university professionals to divest holdings in fossil fuel producing companies.
The industry fund for university workers told members it would make an announcement this week that would demonstrate its position as an "industry leader" on climate change.
"Unisuper supports the aims of the Paris Agreement and sees decarbonisation as a key investment theme for at least the next decade," an email to members, obtained by The Age and The Sydney Morning Herald, said.
The fund told members its investment teams had pushed all companies – in particular oil and gas companies – to align their business models with a net zero trajectory.
"To encourage greater ambition, next week we will make an announcement that we believe will demonstrate our position as an industry leader with respect to our commitment to the aims of Paris Agreement," it said on Friday.