A 24-Year-Old Is Suing Pension Fund for Not Being Green Enough

Nov. 13, 2019, 4:00 PM

Mark McVeigh, a 24-year-old environmental scientist from Australia, won’t be able to access his retirement savings until 2055. But, concerned about what the world may look like then, he’s taking action now, suing his A$57 billion ($39 billion) pension fund for not adequately disclosing or assessing the impact of climate change on its investments.

The Federal Court battle is shaping up to be a unique test case. Are pension funds in breach of their fiduciary duties by failing to mitigate the financial ravages of a warmer planet?

Mark McVeigh
Photographer: Ian Waldie/Bloomberg

Before launching the legal action, McVeigh asked Retail Employees Superannuation Trust, ...

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