SUPER FUNDS
COMPARISON TABLE

What future is your super funding?

SUPER FUNDS
COMPARISON TABLE

What future is your super funding?

Use the table below to find out whether your super fund is investing your retirement savings into polluting fossil fuels.

Superannuation allows Australians the opportunity to retire with comfort and security. But what if the super we retire with has been funding environmental destruction and runaway climate change? What if, by being invested in fossil fuels like coal mining and coal seam gas, our super funds deliver us a polluted world to retire into?

Find out which super funds are invested in companies that are actively undermining the climate goals set out in the Paris Agreement, and take action to tell your fund to lift its game on climate action.

What is the Climate Wreckers Index?

The Climate Wreckers Index is made up of the 180 publicly-listed companies from all over the world with the biggest plans to expand the scale of the fossil fuel industry. The “Exposure to Climate Wreckers Index” column in the table below shows the extent to which each super fund investment option is invested in these climate wrecking companies.

TAKE ACTION

Use the form below to tell your fund to lift its game on climate action!

Super Funds
Fund and Option
Coal exclusion policy
Oil & gas exclusion policy
Exposure to Climate Wreckers Index (% listed equities)
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ACSRF Balanced
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 7.51%
Active Super High Growth
Coal exclusion policy: Some
Oil & gas exclusion policy: Reduced exposure
Exposure index: 6.08%
AMP MySuper 1970’s
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 5.94%
Australian Ethical Balanced
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
Australian Retirement Trust Lifecycle Balanced Pool
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 6.28%
Australian Retirement Trust Socially Conscious Balanced
Coal exclusion policy: Some
Oil & gas exclusion policy: Some
Exposure index: None
AustralianSuper Balanced
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 4.42%
AustralianSuper Socially Aware
Coal exclusion policy: Some
Oil & gas exclusion policy: Some
Exposure index: 0.13%
Aware Super Diversified Socially Responsible Investment
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
Aware Super High Growth
Coal exclusion policy: Some
Oil & gas exclusion policy: Reduced exposure
Exposure index: 3.50%
BT Super Panorama
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 7.07%
CareSuper Balanced (MySuper)
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 8.14%
CareSuper Sustainable Balanced
Coal exclusion policy: Some
Oil & gas exclusion policy: None
Exposure index: 6.30%
Catholic Super Balanced Growth
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 5.95%
Catholic Super Positive IMPACT
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
Cbus Growth (MySuper)
Coal exclusion policy: Reduced exposure
Oil & gas exclusion policy: Reduced exposure
Exposure index: 4.77%
Colonial First State FirstChoice Wholesale Growth
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 7.06%
Commonwealth Super Corp CSS Default
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 7.15%
Commonwealth Super Corp Military Super Balanced
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 7.15%
Commonwealth Super Corp PSS Default
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 7.15%
Commonwealth Super Corp PSSap MySuper Balanced
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 7.15%
Cruelty Free Super Growth
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
Equipsuper MySuper
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 5.98%
ESSSuper Growth
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 5.08%
Future Super Balanced Impact
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
GESB My GESB Super Plan
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 7.77%
Hesta Balanced Growth
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 5.81%
Hesta Sustainable Growth
Coal exclusion policy: Some
Oil & gas exclusion policy: Some
Exposure index: 1.03%
Hostplus Balanced
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 5.66%
Hostplus SRI Balanced
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Some
Exposure index: 0.12%
IOOF Balanced Investor Trust
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 7.17%
LGIA Super MySuper
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 6%
Mercer SmartPath 1969-1973
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 5.71%
Mercer Sustainable Plus Growth
Coal exclusion policy: Reduced exposure
Oil & gas exclusion policy: None
Exposure index: 7.45%
MLC MySuper Growth
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 7.16%
NGS Diversified MySuper
Coal exclusion policy: Some
Oil & gas exclusion policy: Some
Exposure index: 5.52%
OnePath ANZ Smart Choice 1970’s
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: 6.17%
REST Core Strategy
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 5.97%
Rest Sustainable Growth
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Some
Exposure index: 0.22%
Spirit Super Balanced MySuper
Coal exclusion policy: Reduced exposure
Oil & gas exclusion policy: Reduced exposure
Exposure index: 5.79%
State Super Balanced
Coal exclusion policy: None
Oil & gas exclusion policy: None
Exposure index: Holdings not disclosed
Super SA Triple S Balanced
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 4.91%
Super SA Triple S Socially Responsible
Coal exclusion policy: Some
Oil & gas exclusion policy: Comprehensive
Exposure index: 0.03%
Telstra Super Balanced MySuper
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 6.29%
UniSuper Balanced
Coal exclusion policy: Minimal
Oil & gas exclusion policy: None
Exposure index: 8.33%
UniSuper Sustainable Balanced
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
Verve Super Balanced
Coal exclusion policy: Comprehensive
Oil & gas exclusion policy: Comprehensive
Exposure index: None
Vision Super Balanced Growth
Coal exclusion policy: Some
Oil & gas exclusion policy: Minimal
Exposure index: 4.21%
Vision Super Sustainable Balanced
Coal exclusion policy: Some
Oil & gas exclusion policy: Minimal
Exposure index: 4.71%

Explanation of super funds table categories:

Coal exclusion policy categories:
ComprehensiveThis super fund option excludes investments in all companies that are either expanding the scale of the coal sector (including extraction and transport of thermal and metallurgical coal, and coal power generation), and/or companies relying on scenarios consistent with the failure of the Paris Agreement to justify their future coal business prospects. No investments in companies like Whitehaven Coal, New Hope, AGL, BHP, or South32.
SomeThis super fund option excludes investments in companies deriving 33% or more revenue from thermal coal mining and coal power generation in both active and passive holdings. No investments in companies like Whitehaven Coal, New Hope, or AGL.
MinimalThis super fund option excludes investments in companies deriving 75% or more revenue from thermal coal mining in both active and passive holdings. No investments in companies like Whitehaven Coal or New Hope.
Reduced exposureThis super fund option has publicly disclosed details of a policy (such as low carbon benchmarking or stranded asset risk weighting) that reduces exposure to some companies deriving revenue from coal operations.
Future commitmentThis super fund option has no currently disclosed coal exclusion, but intends to phase out thermal coal exposure by or before 2030. By this time it will have no investments in companies like Whitehaven Coal or New Hope.
NoneNo coal exclusion policy found.
Oil and gas exclusion policy categories:
ComprehensiveThis super fund option excludes investments in all companies that are either expanding the scale of the oil and gas sector (including exploration, extraction, processing/refining, infrastructure, transport and power generation), and/or relying on scenarios consistent with the failure of the Paris Agreement to justify their future oil and gas business prospects. No investments in companies like Woodside, Santos, Origin Energy, Beach Energy, or APA Group.
SomeThis super fund option excludes investments in companies deriving 50% or more revenue from oil and gas production in both active and passive holdings. No investments in companies like Woodside, Santos, or Beach Energy.
MinimalThis super fund option excludes investments in companies deriving 50% or more revenue from oil and gas production in active holdings only. No active investments in companies like Woodside, Santos, or Beach Energy.
Reduced exposureThis super fund option has publicly disclosed details of a policy (such as low carbon benchmarking or stranded asset risk weighting) that reduces exposure to some companies deriving revenue from oil and gas production.
Future commitmentThis super fund option has failed to set an oil and gas revenue threshold, but instead intends to phase out oil and gas exposure by or before 2040. By this time it will have no investments in companies like Woodside, Santos, Origin Energy, Beach Energy, or APA Group.
NoneNo oil and gas policy found.

What is the Climate Wreckers Index?

The Climate Wreckers Index is made up of the 180 publicly-listed companies from all over the world with the biggest plans to expand the scale of the fossil fuel industry. Specifically, the list includes:

  • The top 60 oil and gas producers by expansion plans
  • The top 60 coal miners by expansion plans and coal reserves
  • The top 30 companies by new gas power plant development plans
  • The top 30 companies by new coal power plant development plans

Methodology

Scope
The scope of our analysis covers the default (or largest, by assets under management) investment option of Australia’s largest 30 super funds by assets under management, according to APRA’s June 2021 fund-level superannuation statistics (Table 1 and Table 2). Wherever these funds include an actively managed ‘sustainable’ or ‘socially responsible’ (or equivalent) investment option, these are also included in the table. Further to these APRA-regulated funds, our analysis includes state-regulated funds and a number of ethical super funds that are outside the top 30 funds.

Where mergers between super funds have occurred since June 2021, the single merged entity is listed on the table and occupies only one position on the table, unless the merged funds were found to have clearly separate default options with different investments.

The final analysis excludes HUB24, Netwealth and Macquarie, which do not appear to have default investment options comparable to the rest of those captured in the study.

Process: Exposure to Climate Wreckers Index
Portfolio holdings disclosures were collected for the funds listed in the table above. These holdings were filtered for listed equities, and all investments whose names matched companies in the Climate Wreckers Index were extracted. The total investment exposure to Climate Wreckers Index companies was calculated as a percentage of total listed equities in the option, minus any allocation to pooled or managed investment fund products within the total listed equities allocation.

Details

  • Portfolio holdings disclosures are as at 31 December 2021.
  • ‘Total listed equities allocation’ does not include derivatives.

Sources
Portfolio holdings disclosures for all funds are as at 31 December 2021, and were sourced from each fund’s website.

Disclaimer

The information provided by Market Forces does not constitute financial advice. The information is presented in order to inform people motivated by environmental concerns and take actions based on those concerns. Market Forces is organising data for environmental ends.
The information and actions provided by Market Forces do not account for any individual’s personal objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice.

Market Forces recommends all users obtain their own independent professional advice before making any decision relating to their particular requirements or circumstances. Switching super funds may have unintended financial consequences.

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