October 2024 ESG Policy Update–Australia
By EsqSocial Corporation 04/12/24
On 25 September 2024, the Federal Court ordered a large superannuation trustee (Trustee) to pay the highest penalty imposed for greenwashing conduct yet–AU$12.9 million. This comes off the back of the Federal Court in early August this year ordering Mercer Superannuation (Australia) Limited to pay an AU$11.3 million penalty after it admitted it made misleading statements about the sustainable nature and characteristics of some of its superannuation investment options....
By: K&L Gates LLP