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Switching to an ethical super fund is the third most effective thing people can do to fight climate change according to new research, coming in after installing solar panels and switching to a green energy plan.
And while solar panels are becoming increasingly popular and many pay careful attention to the green credentials of their energy retailer, comparatively few of us realise the power super funds have in driving the change to net-zero emissions.
UTS Business School measured and ranked the most effective actions individuals can take to fight climate change.
The research found the top five ways to reduce your carbon footprint are installing solar panels, switching to a renewable energy plan, switching your super to an ethical fund, living car-free and switching to a hybrid or electric car.
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Figures from the Responsible Investing Association Australasia (RIAA) show tobacco; controversial weapons; and fossil fuel exploration, mining and production – in that order – are the three most popular exclusions among the super funds that have ethical investing options.
Maria Loyez, the chief customer officer at Australian Ethical – which sponsored the research – says the vast majority of people are unaware investing their super in an ethical fund can have a big impact by directing money away from companies that are contributing to climate change.
As more people are likely to consider sustainable and ethical investing, including through their superannuation, Australian regulators are asking investment managers for evidence to back up their claims to be investing ethically.
This is an extract from an article written by John Collett for The Sydney Morning Herald, published on 01 February 2023.
Read the full story: Better than a Tesla: Changing super one of the best ways to go green- Sydney Morning Herald
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