{"id":68969,"date":"2023-03-15T02:00:00","date_gmt":"2023-03-14T15:00:00","guid":{"rendered":"https:\/\/www.marketforces.org.au\/?page_id=68969"},"modified":"2023-11-09T18:48:46","modified_gmt":"2023-11-09T07:48:46","slug":"stewards-of-climate-disaster","status":"publish","type":"page","link":"https:\/\/www.marketforces.org.au\/campaigns\/super\/stewards-of-climate-disaster\/","title":{"rendered":"Stewards of Climate Disaster"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.23″ _module_preset=”default” custom_padding=”0px||12px||false|false” global_module=”69001″ saved_tabs=”all” global_colors_info=”{}”][et_pb_row module_class=”mf-breadcrumbs” _builder_version=”4.23″ _module_preset=”default” max_width=”1440px” custom_padding=”0px||0px||false|false” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_code _builder_version=”4.23″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}”]Home<\/a><\/span><\/span>[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” admin_label=”Section – Header” _builder_version=”4.20.0″ _module_preset=”default” background_image=”https:\/\/www.marketforces.org.au\/wp-content\/uploads\/2023\/03\/coal_002-crop.jpg” width_tablet=”90%” width_phone=”90%” width_last_edited=”on|phone” max_width=”1440px” module_alignment=”center” min_height=”400px” custom_margin=”||||false|false” custom_padding=”0px|0px|0px|0px|false|false” custom_padding_tablet=”0px|0px|0px|0px|false|false” custom_padding_phone=”||||false|false” custom_css_main_element=”display: flex;|| align-items: flex-end;|| justify-content: center;” global_colors_info=”{}”][et_pb_row _builder_version=”4.20.0″ _module_preset=”default” background_color=”#FFFFFF” width=”100%” max_width=”885px” module_alignment=”center” custom_padding=”29px|49px|0px|49px|false|true” custom_css_main_element=”align-self: flex-end;|| margin: unset;” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.0″ _module_preset=”default” text_font=”Poppins|600||on|||||” text_text_color=”#fa6d6d” text_line_height=”1.42em” custom_margin=”||8px||false|false” global_colors_info=”{}”]<\/p>\n

Report<\/p>\n

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Stewards of Climate Disaster<\/h1>\n

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How Australia\u2019s biggest super funds are failing to deliver on climate claims through \u2018active ownership\u2019<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section – Actions” module_id=”section-take-action” _builder_version=”4.20.0″ _module_preset=”default” custom_padding=”60px||30px||false|false” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ module_id=”take-action” _builder_version=”4.23″ _module_preset=”default” custom_padding=”0px||0px||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_column type=”1_2″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]Australia\u2019s biggest super funds are greenwashing and exposing themselves to legal risk by failing to effectively engage with companies expanding fossil fuels.<\/strong><\/p>\n

Our new analysis reveals Australia\u2019s five biggest super funds, which together manage a staggering $1 trillion of members\u2019 retirement savings, are failing to live up to their climate claims.<\/p>\n

All five funds in the study \u2013 AMP, Australian Retirement Trust, AustralianSuper, Aware Super and Commonwealth Super Corp \u2013 have claimed support for or alignment with the Paris climate goals and \/ or set net zero emissions by 2050 targets. The science is clear: meeting these goals means no new coal, oil or gas projects and a rapid decline in the use of these fossil fuels.<\/p>\n

Despite claiming to pursue climate action by engaging* with companies they invest in, super funds have failed to comprehensively adopt effective engagement practices recommended by major responsible investor initiatives. So it is little wonder those funds\u2019 efforts have been utterly inadequate to rein in the climate-wrecking fossil fuel expansion plans of companies like Santos and Woodside.<\/p>\n

Lawyers have warned financial institutions without \u2018reasonable grounds\u2019 to believe they will achieve their climate goals could be engaging in misleading and deceptive conduct. This could have serious consequences for super funds failing to deliver on their climate commitments through active ownership of companies like Santos and Woodside.<\/p>\n

Is your fund greenwashing? Demand answers today.<\/strong>[\/et_pb_text][et_pb_text _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″ text_line_height=”1.3em” text_font_size=”14px”]* The term \u2018engaging\u2019 here refers to the interactions between investors and the companies they invest in. Engagement is a tool investors use to try to influence change at companies, and is one aspect of an investor\u2019s \u2018stewardship\u2019 or \u2018active ownership\u2019 strategy. See the more information section for further details.[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.20.0″ _module_preset=”default” background_color=”#f2f2f2″ custom_padding=”40px|40px|40px|40px|false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.0″ _module_preset=”default” header_2_font=”Inter|800|||||||” header_2_text_color=”#131313″ header_2_font_size=”36px” header_2_line_height=”1.17em” global_colors_info=”{}”]<\/p>\n

Take Action<\/h2>\n

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Demand answers from your super fund: submit a legal request for information.<\/span><\/p>\n

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