Ethical super funds with Fossil Fuel investments
Ethical super funds with Fossil Fuel investments
An ABC investigation into the financial disclosures of sustainable or ethical-labelled super options finds extensive investment in shares of companies in the fossil fuel, gambling, alcohol and weapons manufacturing industries.
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Interesting read. I mentioned Future Super as an ethical alternative in a different thread about a week ago and someone replied that it was under-performing compared to other "ethical" super funds, citing Australian Ethical which invests close to $150 million in companies earning revenue from fossil fuels.
Yep sorry, that was me. I still think the fees from future super are exorbitant but Australian ethical isn't a good alternative
Nothing to apologise for, I just found the timing of this article interesting given that recent conversation.
Yeah I thought timing was interesting since I haven't been online in about a week when the other thing was posted and came back to this post. Btw it looks like SSSuper and Prime Super are the only ones on the list that seemed to actually be ethical.
Yeah I thought timing was interesting since I haven't been online in about a week when the other thing was posted and came back to this post.
Yes, it was literally the exact same scenario for me lol
Hmm it doesn't show Australian Ethical as having any fossil fuel investments???
Scroll down.
The ABC cross checked its findings against a second list of companies, supplied by financial data and analysis company Morningstar.
This list was made up of public companies that reported generating revenue from oil and gas, as well as coal production and exploration. Unlike the data from Bloomberg, this also included companies that earn revenue from fossil fuel power generation.
It also captures investment companies and other financial institutions that have holdings in companies that produce fossil fuels.
This method identified more than $2 billion invested in publicly listed companies generating revenue from fossil fuels.
Australian Ethical are listed as having invested $147.4 million in this section.