Millennial Suing His Pension Fund For Not Being "Green" Enough
Bored with just plain old protests and interrupting political events to force their climate change virtue signaling onto the world, environmentalists are now using the legal system to harass those who don't agree with their world view or aren't "green" enough for their liking.
That's what Mark McVeigh, a 24 year old environmental scientist from Australia has done: he is suing the $57 pension fund he is invested in with his retirement savings for "not adequately disclosing or assessing the impact of climate change on its investments," according to Bloomberg.
The case will determine whether or not funds are in breach of fiduciary duties by failing to make investments that mitigate climate change.
Prior to filing the suit, McVeigh had asked Retail Employees Superannuation Trust, his pension fund, how it was "ensuring his savings were future proofed against rising world temperatures". He didn't like the answer he was given, so now he is suing.
he fund says that climate change is one of the variety of factors it has to consider when investing on behalf of its 2 million members. Australia's pension pool, which stands at about $2.9 trillion, is watching the case closely to see if the outcome will make it more difficult for funds to meet their already legislated minimum return targets.
Ian Patrick, chief investment officer at Sunsuper Pty, which manages A$70 billion, said: “Looking after the best financial interests of our members requires us to be conscious of the risks, but not exclude a whole segment of the economy that’s going to be very meaningful for a period of time. Right now, the interests of our members -- the sole purpose of super -- is what wins out.”
https://www.zerohedge.com/political/mil ... een-enough
"But you will run your kunt mouth at me. And I will take it, to play poker."
