While the legal entity that is represented as a signatory to the Principles for Responsible Investment (PRI) is the Australian Capital Territory, the body politic established by section 7 of the Australian Capital Territory (Self-Government) Act 1988 (Cwlth), the commitments that derive from the ACT Government’s endorsement of the PRI apply to specific financial investment portfolios managed by the Chief Minister, Treasury and Economic Development Directorate (CMTEDD). The financial investment operations are not performed by a separate legal entity.
The range of responsibilities of CMTEDD is extensive and extends beyond just financial investment operations. CMTEDD leads the ACT Public Service (ACTPS) and provides strategic advice and support to the Directorate's Ministers and the Cabinet on policy, financial and economic matters, service delivery and whole of government issues. The Directorate facilitates the implementation of government priorities and drives many new initiatives.
The Directorate is responsible for collecting and managing taxation revenue; managing the Government's financial assets and liabilities, including the defined benefit superannuation investment assets and liabilities; and providing advice to the Government and ACT agencies on the Territory's budget and financial management, economic and revenue policy, federal financial relations, and workers compensation policy. The Directorate is also responsible for Shared Services which provides financial, ICT and HR support across Government.
The Directorate focuses on facilitating business development, investment, tourism and events, sport and recreation, arts, and other government activity, often in coordination with the private sector, to increase the economic performance of the ACT. The Directorate is also responsible for land release and facilitating projects through the office of Coordinator-General, as well as Procurement and Capital Works.
It is within this context and the unique position of being an Australian Sovereign entity that the underlying investment activities are conducted with a specifically targeted approach, and in a manner that complies with our legislative and government procedural requirements.