Greenwash Exposé: Selling The Green Dream
Most Australian major superannuation funds offer their members an investment option that avoids environmentally harmful industries like coal, oil and gas. With these funds collectively holding over $60 billion in retirement savings. However, an ABC analysis reveals that 12 of these funds, under new transparency rules, collectively hold nearly $1.2 billion in fossil fuel shares and investments in sectors like gambling, alcohol, uranium, and defense.
The analysis highlights the need for transparency, with the complexity of disclosed data making it challenging for average members to assess and compare funds.
If any of your super is invested in industry super funds, you might be interested in discovering where their sustainable or ethical options allocate their (well actually 'your') investments.
Interactive ABC article available here
To put your industry super fund on notice, Marketforces have a tool that helps you reach out to your super fund available here