Hesta Core Pool

Australian share investments

39%

51%

Hesta only discloses its top 20 Australian and top 20 international shareholdings, leaving the majority of shareholdings hidden from members. From the limited information available, we know at least 9% of the Core Pool’s Australian share investments is in companies actively undermining the climate goals of the Paris Agreement, including Woodside Petroleum, Origin Energy, and BHP.

Terms and methodologies explained

TAKE ACTION

Known fossil fuel exclusions

Since 2014, Hesta’s Core Pool option has excluded new investments in unlisted companies, and investments in newly-listed companies, that derive more than 15% of revenue or net value from thermal coal exploration or development of new or expansionary thermal coal mines.

General fund information

Fund type: Industry

Assets under management: $48.9 billion

Members: 872,000

Date as at 30/06/2018
Reference: https://www.hesta.com.au/members.html

Other funds by the same provider

Hesta Eco Pool

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

Superfund*
Name*
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Subject
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Your message to your super fund*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. It is terrible that you do not disclose investment holdings to us members. I would also like to raise this lack of disclosure as a complaint. I can only imagine the extent to which my super is invested in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to your super fund*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I am concerned my super is invested in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to AMP*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 7% of the AMP Balanced Growth option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to ACSRF*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 7% of the fund’s ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Australian Ethical*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to firstly thank you for not investing any of my retirement savings in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure (see: marketforces.org.au/outofline). However, there are many companies within my portfolio that are yet to demonstrate their alignment with the Paris climate goals. I ask that you engage with these companies to ensure they do so at the next possible opportunity. For years companies have been asked to disclose and manage their climate change risks. Yet in spite of increasing calls to action from regulators and investors, many companies have failed to disclose strategies that are consistent with the goal of limiting global warming to 1.5°C. Please respond within 14 days, detailing your plans to engage with companies to ensure their business plans are aligned with the Paris climate goals. Sincerely
Your message to AustralianSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand 15% of the fund’s ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. While AustralianSuper should be commended for your full holdings disclosure, the list reveals investment in no less than 20 of these climate-wrecking companies. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to CareSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 14% of the CareSuper Balanced option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Catholic Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 14% of the Catholic Super Balanced option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Cbus*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change. I do not want my retirement savings funding their destructive activities. I understand 15% of the fund’s ASX 300 investments is in companies* that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C.
Your message to CSC*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 15% of the fund’s ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your incomplete holdings disclosure, which I would also like to complain about, I am concerned there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks. Yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to EnergySuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand 15% of the fund’s ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Equip Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 10% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to ESSSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 8% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to First State Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 13% of the Balanced Growth option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Future Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to firstly thank you for not investing any of my retirement savings in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure (see: marketforces.org.au/outofline). However, there are many companies within my portfolio that are yet to demonstrate their alignment with the Paris climate goals. I ask that you engage with these companies to ensure they do so at the next possible opportunity. For years companies have been asked to disclose and manage their climate change risks. Yet in spite of increasing calls to action from regulators and investors, many companies have failed to disclose strategies that are consistent with the goal of limiting global warming to 1.5°C. Please respond within 14 days, detailing your plans to engage with companies to ensure their business plans are aligned with the Paris climate goals. Sincerely
Your message to GESB*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 8% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Hesta*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 9% of the Core Pool's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. I am grateful that Hesta has at least taken an initial step by excluding new thermal coal investments. But almost 5 years have passed since that decision. It is high time Hesta upgraded its policy to exclude any investment in companies whose actions are incompatible with the goals of the Paris Agreement. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Hostplus*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 14% of the Balanced option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to IOOF*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 8% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to legalsuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 10% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to LGIASuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 8% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Local Government Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 13% of the Balanced Growth option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. I am grateful that LGS has at least taken an initial step by excluding most thermal coal investments. But years have passed since that decision. It is high time LGS upgraded its policy to exclude any investment in companies whose actions are incompatible with the goals of the Paris Agreement. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Media Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 2% of the Balanced option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Mercer*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 7% of the Growth option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to MLC*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 7% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to MTAA Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 10% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to QSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 1% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to SunSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 9% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to SuperSA*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 11% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to UniSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 10% of the Balanced option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to VicSuper*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand 14% of the Growth option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. While VicSuper should be commended for your full holdings disclosure, the list reveals investment in no less than 19 of these climate-wrecking companies. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to Virgin Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 9% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C.
Your message to Vision Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 7% of the Balanced Growth option's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. I am grateful that Vision Super has at least taken an initial step by divesting most thermal coal and tar sands companies. However, this exclusions policy must be extended to prevent any investment in companies whose actions are incompatible with the goals of the Paris Agreement. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C. Sincerely
Your message to WA Super*
(you can personalise and amend this, your name will be automatically added at the end)
I am writing to lodge a formal complaint about my super being invested in companies actively undermining efforts to avoid runaway climate change (see: marketforces.org.au/outofline). I do not want my retirement savings funding their destructive activities. I understand at least 9% of the fund's ASX 300 investments is in companies that are pursuing fossil fuel expansion and/or basing their business on a scenario that would doom the Paris Agreement to failure. Given your limited holdings disclosure, which I would also like to complain about, I assume there is further investment in these companies hidden from members. For years companies have been asked to disclose and manage their climate change risks, yet in spite of increasing calls to action from regulators and investors, these companies have continued to base their future business prospects on scenarios that deliver catastrophic climate change. There is no justification for attempting to engage these companies any further. As my super fund, you have a duty to act in my best interests. Using my money to fund climate destruction is out of line with that duty. Other super funds have taken the pragmatic step of excluding investments in certain companies whose actions are incompatible with the goals of the Paris Agreement. I ask that you do the same, and announce this decision publicly. Please respond within 14 days, detailing your plans to divest all holdings in companies that are actively undermining efforts to hold global warming to 1.5°C.
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Calling for Paris-alignment

Hesta has not demonstrated any evidence that it has called on any specific company to alter its strategy to bring it into line with the climate goals set out in the Paris Agreement. Hesta had the opportunity to do just that at Whitehaven Coal’s October 2018 Annual General Meeting, but the fund voted against a resolution expressing an opinion that Whitehaven’s strategy should align with the Paris climate goals.

Hesta is a member of the Climate Action 100+, which aims to encourage 100+ emissions-intensive companies to “Take action to reduce greenhouse gas emissions across their value chain, consistent with the Paris Agreement’s goal of limiting global average temperature increase to well below 2-degrees Celsius above pre-industrial levels.”

Scenario analysis

Hesta has not disclosed any climate change scenario analysis. The fund measures the carbon footprint of its equities and property holdings, but has no public commitment to actively reduce this footprint over time.

Climate voting record

Hesta discloses all of its proxy voting decisions every six months. The fund voted for 44 of the 51 (86%) climate-related resolutions it voted on in 2017.

Hesta Core Pool

Australian share investments

Known fossil fuel exclusions

General fund information

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Calling for Paris-alignment

Scenario analysis

Climate voting record

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