You can’t stock-pick your way out of environmental collapse, superannuation boss warns

David Neal, whose IFM Investors manages $200bn, says global heating could slash portfolios by up to 40%

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Pension funds must use their global power as big investors to push the new clean economy" to avoid an environmental collapse that could slash the value of their portfolios by as much as 40%, an Australian superannuation chief says.

David Neal, the chief executive of IFM Investors, which manages $200bn for superannuation savers, says pension funds could not avoid the effects of global heating simply by not investing in carbon-emitting companies.

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