4 March 2022 Cbus and Media Super announced merger plans last year, and have now set a completion date. However, each fund takes a different approach to climate change, and the question that remains to be answered for members of both funds is this: what will this...
superannuation
Solidarity with Ukraine, and shame on the institutions investing our money in the invasion
Market Forces stands in solidarity with the people of Ukraine, who have been subjected to a brutal and illegal invasion perpetrated by the Russian military. We are also appalled that the custodians of our money, governments and financial institutions, have used...
2021 HESTA Annual Member Meeting: The fund avoids climate scrutiny at all costs
1 December 2021 Executives and board members of super fund HESTA failed to address members’ concerns about the fund’s investments in companies expanding oil and gas production at its annual member meeting yesterday evening. A group of members calling themselves the...
Super funds undermining climate commitments
29 November 2021 Our super funds have had a number of critical opportunities to force companies they invest in to step up on climate action over the past couple of months. Yet our new analysis finds they’ve been squandering these opportunities by voting against...
Super fund ‘engagement’ fails to stop Woodside and BHP pressing go on Scarborough carbon bomb
23 November 2021 Late yesterday, oil and gas giant Woodside announced it had made a final investment decision to go ahead with its climate-wrecking Scarborough gas project, which includes a huge new offshore gas field (Scarborough) and a new onshore gas processing...
New legal opinion confirms super funds must manage climate risks
22 April 2021 Released today, a new legal opinion commissioned by Market Forces has confirmed super funds are legally required to understand and manage the material financial risks posed by climate change. The new legal advice from barristers Noel Hutley SC and James...
Tell your super fund: Vote for climate action
1 April 2021 Over the coming weeks, your super fund has a number of huge opportunities to demand real climate action from some of Australia’s biggest gas companies, as well as globally-significant fossil fuel financiers and developers. By investing your retirement...
Mark’s historic super fund legal win
5 November 2020 You may have seen the news this week about 25-year-old Brisbane ecologist Mark McVeigh, who won a historic legal battle against his $57 billion super fund, Rest, over climate change. What you may not know is that Mark used Market Forces’ research and...
Super funds are slowly moving on climate action – are your retirement savings still invested in climate destruction?
6 October 2020 2020 has seen some significant shifts in how super funds are dealing with climate change and the risks it poses, resulting in hundreds of millions of dollars being withdrawn from some of Australia’s dirtiest companies. Millions more Australians no...
FAR Ltd betting against Paris climate goals
27 May 2020 FAR Ltd is an oil and gas exploration company, with one major project nearing development: the Sangomar oil field off Senegal’s coast. With the company’s entire business model predicated on new oil and gas developments that cannot be burned in a 1.5°C...