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 55% of your mandatory pension contribution is invested in high-risk, high-carbon assets with less than 2% being invested in low-carbon assets.

One of the great things about our Super 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.

Power to the people! Get on over to Are You The Vital Few and take action now…

Getup have also joined this area of campaigning on superannuation transparency and disclosure launching a website called superswitch.org.au.

Changing Super Funds is easier than you think…

Remember, sharing is caring and you wouldn’t want your family, friends and neighbours to miss out on all the fun, would you…

Other resources:

gofossilfree.org

fossilfree.com.au

Asset Owners Disclosure Project – Australian climate Index

The Asset Owners Disclosure Project is an independent not-for-profit global organisation whose objective is to protect members’ retirement savings from the risks posed by climate change by improving the level of disclosure and industry best practice. It allows you to assess the climate risk rating of various Australian superannuation funds.

Watch former Liberal Party leader and Economics Professor John Hewson at the Festival of Dangerous Ideas in Sydney on the subject of Your Superannuation Is Destroying The Planet on the Asset Owners Disclosure Project and the Vital Few:

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