Aware Super CIO Damian Graham said the production timelines on nuclear were too long to help meet the fund’s own net-zero targets. His counterpart at UniSuper, John Pearce, said nuclear investments would not make money for members fast enough, while Cbus ruled it out completely.The investment bosses of half a dozen funds also agreed there was not enough policy certainty to justify any serious consideration of nuclear energy investments.
Cbus, which is chaired by former Labor treasurer Wayne Swan, has been the biggest backer of “nation building” projects to date, including as theBut Mr Chatfield said the fund was “much more focused on the renewable area, particularly onshore and offshore wind and solar” when it came to supporting the energy transition.
It planned to invest 10 per cent of its funds under management into “green solutions” such as renewable energy and cut the carbon intensity of its overall portfolio by 50 per cent by 2050.