Environmental advocacy group Market Forces analysed the direct investments made by Australia's 30 largest superannuation funds since January 2020. It found $99 billion had been invested in 514 renewable energy projects, with the country's top 30 funds contributing $771 million, or 0.8 per cent.
The analysis found that Canadian pension funds have contributed more to Australian renewable energy projects, at $1.2 billion.
Last year, the group also revealed that Australia's top super funds invested more than three times as much in companies with global fossil fuel expansion plans than backing clean energy companies.
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7 Comments
No1@aussie.zone · 6 pts · 36d
Super funds cannot and will not do this without their members asking for it. Some already offer investment options for it, but member's have to transfer their funds into it.
Eg ART's Australian Shares Index investment option's objective is "Closely match the returns of the performance benchmark (S&P/ASX 300 Total Return Index) and maintain a lower weighted carbon intensity." They also have a Socially Conscious Balanced fund. Maybe these earn more than other funds, maybe they earn less.
If you don't like whatever a fund is doing, rollover to a fund who does what you want.
This is not financial advice, I don't know shit about fuck. See a financial adviser
hanrahan@slrpnk.net · 2 pts · 35d
mostly green washing bullshit aside, came across this today
https://www.farmonline.com.au/story/9318282/albanese-governments-key-renewable-scheme-struggles-to-fund-wind/
decapitae@sh.itjust.works · 4 pts · 36d
"Only a complete moron would scrap green projects."- fortunately, we know exactly who and where these people are, what their goal is, when they want to get it done, and why - so what's the hold up on stopping the demise? Boycott their businesses, their invested ventures, their daily products - WHY KEEP GIVING THEM MONEY?
rbos@lemmy.ca · 2 pts · 35d
No shortage of snake oil in green projects. I've got a few stocks down at 2-3% of the money i put in :(
db_null@lemmy.dbzer0.com · 2 pts · 35d
True, but your poor investment choices are no reason to not support genuine projects either
rbos@lemmy.ca · 3 pts · 35d
Oh not at all, nit saying that. I sta d behind my mistakes. Just saying, shit green investments by slimy operatives making big promises.
It's not automatically moronic to scrap green projects.
decapitae@sh.itjust.works · 1 pts · 35d
Grifter gonna grift - prosecute them all