NAMBAWAN Super Limited (NSL) Chief Executive Officer Lachlan Baird, today called for greater collaboration between industry, government and institutional investors to harness Papua New Guinea’s (PNG) growing pool of domestic capital to drive sustainable economic growth and deliver lasting benefits for future generations.
Speaking during the Finance in Resources and Energy session at PNG Resources Week 2026, Mr. Baird addressed delegates under the conference theme “PNG Resources and Beyond 50,” where he shared NSL’s perspective on the important role superannuation plays in mobilising long-term capital to support national development.
Mr. Baird said PNG’s superannuation industry has become one of the country’s most significant sources of capital, with approximately K24 billion in retirement savings under management across the sector.
“As PNG looks beyond its first 50 years of nationhood, one of our greatest strategic advantages is the strength of our own domestic capital,” Mr. Baird said.
“Superannuation funds are uniquely positioned to invest over the long term. Our responsibility extends beyond generating strong investment returns, we have an opportunity to support productive investment that strengthens the economy while always protecting the retirement savings entrusted to us by our members.”
Under PNG’s regulatory framework, at least 65 per cent of superannuation assets are invested domestically. This translates to an estimated K1.5 billion new capital expected to be invested into the local economy over the coming year, providing significant opportunities to support infrastructure, commercial development, energy and other productive sectors.
Mr. Baird emphasised that while domestic investment is essential for economic growth, every investment opportunity must be assessed through the lens of prudent financial stewardship.
“The primary purpose of superannuation is to provide financial security in retirement for each and every Member of the superfund. That responsibility guides every investment decision we make.
“We seek sustainable long-term returns while maintaining appropriate risk management, ensuring sufficient liquidity and integrating Environmental, Social and Governance (ESG) considerations into our investment framework.”
Mr. Baird said successful investment outcomes depend on more than identifying attractive opportunities.
They require robust governance, disciplined decision-making and confidence that projects can deliver sustainable value over the long term.
“Strong governance is fundamental to investor confidence. Independent Boards, capable management teams, transparent reporting, appropriate shareholder protections and sound corporate oversight all contribute to creating investment environments where long-term capital can thrive.”
He explained that NSL evaluates each investment against rigorous criteria, including expected returns, construction and operational risks, technical capability, supply chain resilience, taxation, liquidity and the overall governance of the investment.
“We must understand where returns will come from, how capital will be protected, how all the risks will be mitigated and whether there is a clear pathway to delivering value for our Members.”
Mr. Baird noted that while projects in their development or construction phases often require higher returns to compensate for increased risk, mature operating assets can provide stable, long-term income streams that are well suited to superannuation funds.
“Ultimately, successful investment is about creating shared value. Investments should deliver competitive returns for Members while contributing to economic development, employment, business growth and improved national prosperity.”
Mr. Baird also highlighted the importance of building local capability as part of Papua New Guinea’s longterm economic development journey.
“Beyond financial investment, we must also invest in people. Sustainable growth requires developing local leadership capabilities, strengthening technical expertise, creating opportunities for knowledge transfer and ensuring Papua New Guineans are equipped with the skills needed to participate meaningfully in the industries that will shape our future.”
He said strong partnerships between investors, businesses and communities can help create pathways for skills development, innovation and greater participation in the economy.
Mr. Baird concluded by encouraging continued collaboration between the public and private sectors to build a pipeline of well-governed, investment-ready projects capable of attracting domestic institutional capital.
“Papua New Guinea has the resources, the opportunity and increasingly the domestic capital to help finance its own future.”
“By maintaining strong governance, disciplined investment practices and a long-term perspective, we can ensure our national savings continue to support sustainable development while securing better retirement outcomes for hundreds of thousands of Papua New Guineans.”