Tuesday 9 September: A coalition of organisations representing more than one million health workers have called for super fund HESTA to increase its climate ambition by taking a clear position against new fossil fuel developments.
Market Forces, Healthy Futures, Doctors for the Environment Australia and the Climate and Health Alliance (CAHA) are urging HESTA to end support for companies, including Woodside and Santos, which are steaming ahead with new oil and gas worsening global heating, and undermining the health and safety of all Australians.
The calls by health and environment organisations follow serious concerns expressed for more than three years by fund members, health workers and community members.
Community organisations Amnesty International Australia and the Centre for Non-Violence have ended their relationship with HESTA over its fossil fuel investments, becoming the first organisations to remove the fund from their enterprise bargaining agreements as a default superannuation provider on climate grounds.
HESTA is the industry super fund for people working in the health and community services sectors. It has more than 1.05 million members and nearly $98 billion in assets under management.
Michelle Isles, Chief Executive Officer, Climate and Health Alliance, said:
“CAHA’s 100 member organisations and health workers we serve across Australia are under increased stress dealing with the burden of disease from fossil fuel pollution and the climate change impacts it is causing. HESTA’s investment in fossil fuel projects on behalf of its health members is harming health and fuelling climate change.”
“Health workers prioritise safeguarding the health and wellbeing of communities. We call on HESTA to act in the best interests of its members, prioritise health outcomes and immediately divest from fossil fuels.”
Dr Kate Wylie, a General Practitioner and Executive Director, Doctors for the Environment Australia, said:
“It is pretty hypocritical for a health sector super fund to in any way support the fossil fuel industry.”
“Coal oil and gas are causing immense harm to the health of our communities and our environment, so it’s a clear breach of our duty of care as doctors to have our super invested in them. HESTA does not invest in tobacco or nuclear weapons, so why invest in fossil fuels?”
Dr Helen Redmond, a Rehabilitation Medicine Physician and Chair, Healthy Investment Special Interest Group, Doctors for the Environment Australia, said:
“Fossil fuels are a health hazard. If HESTA is going to hold any shares at all in fossil fuel companies, it must use the full force of its power as a responsible institutional investor.”
“Maintaining engagement with the likes of Santos and Woodside must not be prioritised over calling them out on their greenwashing and insisting on internal transformation. It was done with AGL, it can be done with others.”
Lucy McLean, a Clinical Psychologist and Health Representative, Healthy Futures, said:
“HESTA’s investments in Woodside and Santos are deeply concerning for a fund that claims to care about healthcare workers and healthcare seekers.”
“I am working in healthcare settings where HESTA is the default fund, and I find it deeply disturbing that my colleagues have unknowingly been encouraged into a fund that is ultimately worsening the lives of their patients and clients.
“The climate crisis is not something we can choose to just put on our watchlist. The climate crisis is front and centre in unfolding health outcomes, and we will bear the brunt of this emergency.”
Health workers and concerned community members are rallying outside HESTA’s Melbourne office this morning to make it clear to the fund that it’s time to live up to its climate commitments.
Brett Morgan, Superannuation Funds Campaign Lead, Market Forces, said:
“HESTA has been greenwashing for too long and must demand an end to Santos and Woodside’s oil and gas growth plans in line with the fund’s support for the climate goals of the Paris Agreement.”
“This week marks three years since HESTA asked Santos and Woodside to demonstrate how their business plans align with global climate goals yet both companies have gone in the opposite direction by doubling down on oil and gas expansion.
“Thousands of members and health workers are fed up with HESTA’s weak engagement with Woodside and Santos and are demanding bolder action to end fossil fuel expansion.”
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Antony Balmain, +61-423-253-477, [email protected]