New analysis from environmental finance group Market Forces reveals 82% of Australia’s largest superannuation funds have provided inadequate or no tangible evidence they have considered climate risk in their investment portfolios. According to a new opinion also...
Super Funds
Legal opinion: Fund trustees should consider climate risk
1 August 2017 Market Forces has released a new legal opinion on the extent to which Australian law requires superannuation trustees to consider climate change risks when managing portfolios on behalf of their members. Commissioned by Market Forces, the memorandum of...
CalSTRS to completely divest from thermal coal, including Whitehaven
CalSTRS, the US$200 billion Californian State Teachers' Retirement System, has announced it will divest all non-US thermal coal holdings from July 1. The commitment follows the fund's decision to dump all US thermal coal holdings in December 2015. Here in Australia,...
Media release: Santos admit to ‘four degree’ climate policy, backed by institutional investors
Adelaide, 4 May 2017 In a remarkable admission at the AGM of Australian oil and gas firm Santos today, Chairman Peter Coates revealed its business model is based on a ‘four degree’ climate pathway, completely at odds with international efforts to meet the Paris...
Will your super fund vote for or against climate action?
Oil Search and Santos are two of Australia’s largest oil and gas companies – and neither is addressing the risks of climate change. Oil Search is one of the biggest companies operating in Papua New Guinea, a country already feeling the effects of climate change. Sea...
IOOF deflect on climate risk
24 November 2016 IOOF is an investment management and financial services company listed in the ASX 100, administering over $130 billion on behalf of its clients. The company offers retail superannuation products, which currently boast almost half a million members....
Media Release: Australians hoodwinked by superfunds over multi-million dollar executive fossil fuel exploration bonuses
Melbourne, Thursday 29 September, 2016: A new report released today by environmental finance campaigners Market Forces reveals the multi-million dollar bonuses awarded to Australian and international fossil fuel company executives for expanding reserves which are...
Media Release: Australians reject super funds’ trillion-dollar secret
Melbourne, Friday 23 September, 2016: According to analysis by environmental finance campaigners Market Forces, 83% of assets under management in Australia’s fifty largest superannuation funds are undisclosed, equating to nearly $1 trillion of assets. The analysis...
$1 trillion in super fund assets hidden from the public
21 September 2016 Would you buy a house, not knowing what suburb it’s in? Or how many bedrooms it has? Or if it’s new or old? That’s what many of Australia’s largest super funds are asking you to do with your money – trust them. For many people, super will be the...
AustralianSuper makes a start on fossil fuel divestment
This article first appeared on RenewEconomy, 15 April 2016 Australia’s largest superannuation fund - AustralianSuper - has announced that, from next month, it will offer its members an option that will restrict investments in companies with fossil fuel reserves. The...