Super funds manage over 3.4 trillion dollars – a whopping one-third of the economy. Super funds determine the future by choosing what they invest in – coal, oil and gas or renewable energy.
We’ve looked into the “balanced” investments of the 15 largest super funds* in Australia and found they have at least $25 billion invested in expansionary coal, oil and gas.
Burning fossil fuels is the biggest cause of climate damage – it’s time that super funds cleaned their books and invested now in the companies and technologies for a healthy, clean and sustainable future.
Join us in sharing ACF’s analysis exposing Australian super funds’ investments in expansionary fossil fuels, and call on funds to:
- Divest from all coal, gas and oil companies expanding fossil fuel production and use
- Set clear interim targets to phase out of fossil fuels
- Use their influence to push companies they invest in to cut emissions
The big super funds know they need to lift their game on climate change and pressure from members like you is working. After 114 members contacted the fund, the Australian Retirement Trust divested from Whitehaven Coal and New Hope Group - two companies planning big new coal mines!
To view our analysis of the 15 largest funds, click here. If you belong to a super fund not represented here, download our super fund toolkit for ideas on how to engage your fund. If you're unsure which superannuation funds you are a member of, you can find out on the my.gov website.
If you have any further questions or need extra assistance, you can reach out to Rastko at [email protected]
*AMP, Australian Retirement Trust, AustralianSuper, Aware Super, BT Super, Cbus, Colonial First State, Commonwealth Super Corporation, equipsuper, HESTA, Hostplus, MLC Super, OnePath, REST, Unisuper.
Photo: Gas ship being filled up, Pilbara Western Australia, Franklin64/Shutterstock.com