The Transition Pathway Initiative (TPI) has welcomed Australian superannuation fund HESTA, with 860,000 and $55bn in assets, to organisation for assessing preparedness for the transition to a low carbon economy.

HESTA CEO Debby Blakey said of the announcement, “We’re proud to be among the leading global investors supporting this important new initiative. The finance sector has a vital role to play in supporting the transition to a low-carbon future and the TPI can increase the effectiveness of asset owners’ long-term stewardship activities.”

More than 60 investors globally have now pledged support for the initiative since it launched in 2017, representing over $18tr in combined assets under management and advice.

HESTA, the first Australian organisation to join, will also join the TPI steering committee, which is co-chaired by representatives from founding signatories the Church of England National Investing Bodies (Church of England Pensions Board, the Church Commissioners and CBF Funds) and Brunel Pension Partnership (on behalf of the Environment Agency Pension Fund).

More information about the TPI is available here.

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