Investing in the energy transition

We’re always looking for quality investment opportunities to help our members grow their retirement savings, here we share details of our latest investment with the Macquarie Green Energy and Climate Opportunities Fund.

UniSuper has committed up to USD 400 million to the Macquarie Green Energy and Climate Opportunities Fund (MGECO), investing in the global energy transition and climate opportunities.

MGECO invests in large scale, mature sustainable technologies to support the transition to net zero, such as wind, solar and energy storage solutions. It targets a portfolio that aims to be resilient across the economic cycle with investments across Australia, Asia, the US and Europe.

This is an investment of scale and quality with a pipeline of opportunities helping to accelerate the transition to net zero. It will enable UniSuper to invest in projects that we believe will generate attractive long term returns for our members. One example is Aula Energy an onshore renewable energy business that plans to develop, build and operate utility-scale wind, solar and integrated battery projects across the Australian and New Zealand markets.

We’re pleased to partner with Macquarie which has a highly capable and experienced global team with deep expertise and a proven track record.

As a superfund, we invest for the long-term and we’re prudent about the types of opportunities we invest our members’ money in—we look for investments that lean into the energy transition while providing attractive returns for our members.

The investments we’re making through MGECO will initially be held in our Sustainable Balanced and Sustainable High Growth investment options,1 which had approximately $13 billion in funds under management as at 31 December 2023.

Progressing towards net zero

At UniSuper we see decarbonisation as a theme which we expect will continue over the long-term. We’re continuing to progress towards our goal of achieving net zero carbon emissions in our investment portfolio by 2050 and contributing to Australia’s goal to achieve a 43% reduction in emissions by 2030.

Read our Climate risk and our investments report to find out more about how we’re managing climate risks across our investments.

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Our approach to climate

In 2023, we continued to progress towards our goal of achieving net zero carbon emissions in our investment portfolios by 2050.

1Sustainable and environmental investing means different things to different people. Different products have different investment criteria. Read our How we invest your money IBR (PDF, 1.27 MB) to find out what sustainable and environmental investing means to us and what our investment options invest in.

This information may include forward-looking statements relating to the seed assets which are based on current plans and estimates as at the date of this release. These statements are not guarantees of future performance and you should not place reliance on them. These investments are not being recommended for inclusion in personal portfolios. These investments were chosen because they were suitable for UniSuper’s situation at the time but may not be suitable for others.

Please note past performance is not an indicator of future performance. The information provided above is of a general nature only and does not take into account your individual objectives, financial situation or needs. Please consider the Product Disclosure Statements and Target Market Determinations relevant to your membership category on our website and your situation before making decisions, because we haven’t. Consider the appropriateness of the information having regard to your personal circumstances and consider consulting a licensed financial adviser before making an investment decision based on the information provided above. Issued by UniSuper Limited ABN 54 006 027 121 the trustee of the fund UniSuper ABN 91 385 943 850.

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