We’ve launched a new, targeted campaign just for you at UniSuperDIVEST.org.
As the super fund for Australia’s academics, scientists, researchers and university employees, UniSuper should be leading investor action on climate change. Instead, the fund continues to invest billions of dollars of members’ retirement savings in fossil fuel companies that are driving the climate crisis.
Key: Fine
Work to do
Borderline
Out of line
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7%
27%
7%
0%
59%
UniSuper only discloses the top 21 Australian and top 21 international shareholdings for the Sustainable Balanced option. From this limited information, From the limited information available, we found no Australian share investments in companies actively undermining the climate goals of the Paris Agreement. This option’s exclusion policy appears to prevent investment in the vast majority, if not all, of these companies.
Regarding the Sustainable Balanced option, UniSuper states: “We exclude companies that fall under the following GICS classifications: utilities, coal miners, energy, oil and gas explorers, diversified metals and miners. We then review the stocks on a case-by-case basis to determine exposure to fossil fuels (not all diversified metals and mining companies have fossil fuel exposure). We consider utilities for investment if they’re largely involved in renewable energy—provided they derive less than 30% of energy generation from natural gas only (excluding any coal generation).”
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Calling for Paris-alignment
UniSuper voted in favour of a resolution calling on Woodside to align with the Paris climate goals in 2020.
UniSuper 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
UniSuper has not disclosed any climate change scenario analysis, but has “considered the sectors and holdings in our portfolio that could be most impacted by any market disruption that accompanies a decarbonising economy.”
UniSuper also reviews and discloses the carbon intensity of its portfolios.
Climate voting record
UniSuper discloses its proxy voting decisions for all Australian companies, and its top 100 international holdings, every 6 months. The fund supported 51% of the climate-related shareholder resolutions it has disclosed since 2017, although none of those votes in favour have been cast at Australian companies.
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.
For more information about Market Forces, please visit the about page of the site. To see how we profile super funds go to the methodology page.
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