Nest eggs join the net-zero push

A feeling of helplessness as the climate change threat intensifies is motivating Australians to use their nest egg to invest in green initiatives.

And they’re prepared to switch super funds if another can demonstrate a more ethical approach to investing and clearly communicate its own commitment toSuper funds that demonstrate a passion for the planet report an increasing demand from Australians. Consumers are realising they have a huge amount of power in their super, says Simon Sheikh, of FutureSuper.

In a bid to demonstrate to its members where its investment dollars end up, FutureSuper put more than 200 members on buses and drove them out to the solar farms around Canberra it had invested in as part of the ACT Government’s solar highway. And three out of four consumers would consider moving to another provider if their current fund is investing in companies engaged in activities inconsistent with their values.

These managers are transparent, reporting not just on their activities to improve environmental and social sustainability, but also on the outcomes they achieve, Parker says.“Investment managers are also getting much better at backing up their claims around sustainability of their portfolios, as they don’t want to find themselves on the wrong side of tightening greenwashing regulation and scrutiny,” she says.

“As a wave of mandatory reporting and product disclosure regimes come into force, understanding the current state of the market and the range of approaches being adopted by responsible investors is critical,” Herd says.Marketers have jumped all over ESG as a selling point, but funds are acutely aware that consumers are wary of greenwashing, demanding greater transparency from super funds on where their nest eggs are being invested.

Easy come, easy go.

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