Aligning with the UN Sustainable Development Goals
The United Nations has set a global agenda for sustainability. In late 2015 the UN gathered governments from around the world who endorsed 17 Sustainable Development Goals (SDGs).
The SDGs are a universal call to action. They are focused on ending poverty and hunger, improving health and education, tackling gender inequality, making cities more sustainable, combating climate change, and protecting oceans and forests.
Whilst it will primarily be up to governments to implement the SDGs, investors, business and others all have a role to play to achieve these global goals. We’ve therefore prioritised five SDGs to align with as part of our contribution to sustainability.
Contributions to our SDGs
The SDGs can help to connect business strategies with global priorities. We have identified where Rest can make the most relevant impact. Explaining our contribution also shows how we deliver a better, fairer more sustainable future for you.
At an industry level, Rest joins with others to advocate for a fair super system. We support gender diversity for our own board, and also on the boards in our investment portfolio. Our internal diversity and inclusion program tracks gender diversity across the business.
Board target of 33% minimum for males and females: Achieved at October 2020.
Leadership target 50% female leaders across the business: 46% female and 54% male at October 2020.
Gender diversity across Rest 50:50 target: 46% female and 54% male at October 2020.
2022 target to be certified Employer of Choice by the Workplace Gender Equality Agency.
Affordable and clean energy
Rest invests in clean energy through investments in renewable energy infrastructure. We fully own Collgar Wind Farm, a renewable power project at Merredin in Western Australia’s (WA) central wheatbelt.
Our infrastructure investments, along with our investments in property funds with net zero carbon emissions plans highlight how we contribute.
The Rest Infrastructure Portfolio has 18.5% invested in renewable energy infrastructure assets1.
Collgar Wind Farm generated over 25% of WA’s wholesale renewable power in FY2020, enough to power 130,000 average WA homes for a year.
24.1% of our property investments have net zero carbon emission plans1. Meeting those targets involves the purchase of renewable energy.
Decent work and economic growth
Rest both supports and participates in collective action to engage the 200 largest Australian listed companies on workforce issues, their use of labour standards and human rights risks. We are complying with the requirements of the Australian Modern Slavery Act, we contribute to the Australian economy, and we support our people to be at their best, which means that they will do their best for you.
Our modern slavery statement describes how we identify and assess modern slavery risks in our operations and supply chain.
At September 2020, 100% of our investment managers had been assessed for modern slavery risk.
In 2021 we will work to deliver on our modern slavery action plan, including the development of a supplier code of conduct.
Tax Transparency Reporting: $528M tax paid in FY2019.
Rest is committed to making superannuation and insurance easier to understand and simpler to manage. We recognise that diverse members have different needs and we work to ensure that everyone has equal access to the services we provide.
Advocated to remove the $450 monthly income threshold for payment of the Superannuation Guarantee.
Sponsored Big Super Day Out 2019 and its website in 2020 to further engage Indigenous Australians.
Reconciliation Action Plan in place 2021 and delivered 2022.
Continue our focus on vulnerable customers and develop a policy outlining our approach in 2021.
Climate change could lead to catastrophic economic and social consequences. Rest always acts in the best interests of members, so it makes sense that we manage climate-related financial risks as part of our approach to responsible investment.
Objective to achieve a net zero carbon footprint for the fund by 2050.
100% of our investment managers are monitored for their management of climate change financial risk.
Rest Sydney office is in a 5 star NABERS Energy rated and a 4 star NABERS Water rated building (321 Kent Street).
Rest’s Melbourne office is in a 4 Star NABERS Energy rated and a 4 Star NABERS Water rated building (140 William Street).
We’re taking actions for a better, fairer, and more sustainable future