Australia fines Mercer Superannuation $7.4 mln for misleading ESG claims
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 02 2024
0mins
Source: Reuters
Court Ruling Against Mercer Superannuation: Australia's federal court has fined Mercer Superannuation A$11.3 million for misleading claims regarding its environmental, social, and governance (ESG) investments, marking the Australian Securities and Investments Commission's first action on such claims.
Admission of Misleading Claims: Mercer admitted to serious contraventions related to inaccurate ESG marketing statements and stated that it has cooperated with ASIC while reviewing its internal processes; the fine will not be paid using members' funds.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
