Rest's Sustainable Growth option earns RIAA's highest sustainability classification

Rest, one of Australia’s largest profit-to-member superannuation funds, has attained new independent sustainability credentials for its Sustainable Growth Option.

Rest’s Sustainable Growth investment option has achieved the 'Sustainable Plus' classification from the Responsible Investment Association Australasia (RIAA). The classification is the highest of the 3 categories (Responsible, Sustainable and Sustainable Plus) in RIAA’s Sustainability Classifications Initiative, which forms part of its existing Responsible Investment Certification Program.¹ 

Rest’s General Manager, Responsible Investment & Sustainability, Leilani Weier, says Rest is proud to receive this classification, which demonstrates that the Sustainable Growth investment option meets the RIAA Sustainable Plus Responsible Investment Standard requirement, underpinned by responsible investment objectives, activities, processes and disclosures.

“With around half of our members aged under 30 and decades from retirement, we are pleased to offer a choice investment option which meets RIAA’s highest classification standard. This is consistent with Rest’s broader sustainability aspiration to support actions which help to build a better, fairer and more sustainable future,” Ms Weier says.

“We know our responsible investment approach matters to our members, with 94% of surveyed members agreeing it’s important we invest responsibly and ethically without impacting investment returns.²

“Further, Sustainable Growth’s investments in listed Australian and Overseas shares (excluding private equity) target a weighted average carbon intensity (WACI) (measured in tonnes of carbon emissions (Scope 1 and Scope 2) per million dollars in sales in US dollars) that is at least 50% lower than their respective benchmarks, being the ASX300 and MSCI World ex Australia.”³

Estelle Parker, RIAA’s Co-CEO, says: “In today’s market, the diversity of investment products can be overwhelming. RIAA’s Sustainability Classifications Initiative aims to differentiate products, enabling investors who prioritise sustainable and responsible investing to identify quality options underpinned by reliable, fit for purpose investment processes. We congratulate Rest for achieving the Sustainability Plus classification for its Sustainable Growth option.”

Rest’s Sustainable Growth option was first certified as a Responsible Investment Product under the RIAA Responsible Investment Certification Program in 2022.

Further details on the Sustainable Growth option can be found on Rest's website, in the Investment Guide or in the Sustainability, Responsible Investment and Climate Change Supplement.

Further information on the Responsible Investment Certification Program can be found on RIAA’s website.

^* The Responsible Investment Certification Program provides general advice only and does not take into account any person’s objectives, financial situation, or needs. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Because of this, you should consider your own objectives, financial situation and needs and also consider the terms of any product disclosure document before making an investment decision. Certifications are current for 24 months and subject to change at any time. Ratings/awards are only one factor to consider when deciding how to invest your super.

³ The Australian and overseas shares (excluding private equity) portfolios are reviewed and rebalance on a quarterly basis against this target. Scope 1 emissions are direct Green House (GHG) emissions that occur from sources owned or controlled by the reporting company, e.g. emissions from combustion in owned or controlled boilers, furnaces, vehicles. Scope 2 emissions are indirect GHG emissions from the generation of purchased or acquired electricity, steam, heating or cooling consumed by the reporting company. Scope 2 emissions physically occur at the facility where the electricity, steam, heating or cooling is generated.