Fossil Fuel Divestment

Climate Action Moreland has long supported the movement for fossil fuel divestment. This puts pressure on financial institutions to stop supporting fossil fuels.

In 2014-15 we worked with 350.org to make Moreland Council the first Victorian council to divest from fossil fuels. If you need some advice on how to encourage other councils to divest, let us know.

Meanwhile there are other financial institutions that need to stop investing in fossil fuels.

Is your bank funding the dirty coal and gas export industry?

Getting your banking in alignment with your values is easy. Market Forces has done all the hard work for you so that YOU can find the Bank that won’t invest in fossil fuels that is right for you..

Remember that moving your funds is one thing, letting your current bank know WHY you are moving is really empowering. You can download templates from Market Forces as well to help you create the impact you are capable of…

Once you’ve picked your new bank, make sure they know WHY you’ve chosen them – it’s nice to get positive feedback as well!!!

Superannuation divestment

Are you accidentally investing in Climate Change???

How would you know?
Where could you go to find out?
What could you do once you found out?

Over 50% (and rising) of global stockmarkets are owned by pension funds. The Vital Few are demanding disclosure and transparency on details about climate risk. Unless you have specifically chosen a fund with low exposure to Climate Risk, then more than likely much of your mandatory pension contribution is invested in high-risk, high-carbon assets with very little being invested in low-carbon assets.

One of the great things about our Superannuation legislation is that, if you ask a question of your fund, they are legally bound to get back to you! This puts you in a very powerful position. Super funds generally don’t get many requests for information. This makes any request from you a ‘stand-out’ and you can expect they will treat it very seriously. You will be highlighting Climate Risk in their portfolios and, once you have done this, it will be a fiduciary risk for them to go on ignoring this risk – they have a responsibility to their members to take this risk seriously.

There is more information at Market Forces’s Super Campaign. Find out more about your own superannuation fund at superswitch.org.au. Other resources: gofossilfree.org

and fossilfree.com.au

Remember, to encourage your family, friends, colleagues and neighbours to divest too.

Climate Action Moreland member Bronwyn Plarre taking action during a Divestment Day

Climate Action Merribek: people in Brunswick, Coburg, Fawkner and Glenroy wanting action on climate change