Qantas Super, Sydney, hired Calvert Research and Management and Goldman Sachs Asset Management to run A$1 billion ($720 million) each in low-carbon equity portfolios.
The A$8.5 billion retirement fund for employees of Qantas Airways and its affiliates announced the hirings in a news release Monday as the latest step in its goal to reach net-zero carbon emissions by 2050. Funding sources for the new portfolios were not provided.
Qantas Super plans to reach its net-zero carbon emissions goal in three phrases, the first of which targets a 24% reduction in carbon emissions in its portfolio by 2025 from its undisclosed level of emissions as of June 30, 2020.
Among Qantas Super's sustainable investing measures has been implementation of its Impact Investing Framework in 2020, which assists the fund "in identifying and investing in assets that can generate a strong return, and a positive and measurable social and environmental impact," the news release said.
A Qantas Super spokeswoman could not be immediately reached for further information.
