Our corporate law while supporting the norm of shareholder primacy, dismisses climate change as an externality and ignores the immense efforts by stakeholders who work to civilise it. Australian superannuation funds which hold forty percent of shares in the nation’s listed companies are one such stakeholder, that have the potential to nudge companies towards sustainable practices. While many of these funds have taken a stance on climate change, some are actively regulating the companies in which they invest and a very few are working with others to create new norms that acknowledges and addresses climate related risk. Their response offers a modicum of hope for how we can reimagine corporations and corporate regulation that acknowledges the risks posed by climate change, moving beyond national boundaries, to experiment with finding solutions to the biggest challenge our planet has faced.
|Title of host publication||Innovating business for sustainability|
|Editors||Beate Sjåfjell, Carol Liao, Aikaterini Argrou|
|Publisher||Routledge, Taylor and Francis Group|
|Number of pages||16|
|Publication status||Accepted/In press - Dec 2020|
- superannuation funds
- climate change
Nagarajan, V., & Wardrop, A. (Accepted/In press). Superannuation funds as an agent for addressing climate change in Australia: the power of an emerging actor in polycentric governance. In B. Sjåfjell, C. Liao, & A. Argrou (Eds.), Innovating business for sustainability Routledge, Taylor and Francis Group.