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Australia’s biggest super funds disagree on what the new Your Future, Your Super performance test should look like, but they both think the consequences for failure should be just as weighty – and apply to everybody equally.
Silk joins KPMG for ESG push
Ian Silk, AustralianSuper’s powerhouse former chief executive officer, will join KPMG part-time as the firm broadens its focus on ESG solutions.
Ian Silk will join KPMG as a special advisor, working on ESG issues as part of the firm’s “reinvigorated plans to help clients embrace the greater focus on ESG responsibilities” as well as on investment and infrastructure matters, and strategy issues. KPMG said that Silk “offers a wealth of expertise to support clients in meeting heightened ESG expectations from investors and regulators.”
“I’m highly motivated about the opportunities in ESG. ESG issues are fundamentally investment and financial issues,” Silk said. “There is greater recognition in the market that most strong performing companies are those that take seriously ESG matters in the day-to-day running of their businesses.”
“It’s a top order issue in Australia, with companies heavily exposed to climate change risks and regulators are continuing to escalate their expectations in how we should manage those risks.”
The appointment comes as KPMG rolls out a new ESG agenda for clients in Australia, focusing on data solutions, non-financial reporting, new ESG training programs for its personnel, support for developing nations, and greater industry collaboration.
“As we are adapting our own business to ensure we have a positive impact on society, our clients are also seeking to change to drive a more sustainable and equitable future,” said Andrew Yates, KPMG Australia CEO. “We are accelerating investment in client solutions and our people, as well as managing our own impact in this critical area.”
“With one in every three CEOs planning to invest more than 10 per cent of revenue towards enhancing sustainability, ESG is one of our priority investment areas under our refreshed firm strategy.”
