February 7, 2014

Tell Unisuper to go fossil free

As an ordinary person with an ordinary looking bank account you might not think that you can do much to make a dent in the fortunes of the colossal fossil fuel industry.  But you would be wrong.

As an ordinary person, working in Australia you are more than likely to be a member of a super fund and super funds invest billions of dollars.  Where they invest can make a difference. 
Ergo, as a member of a super fund you do have over the fossil fuel industry -through your super.
Now ethically invested super funds are thin on the ground at the moment, but it doesn’t have to be that way.  If enough of us speak up and let them know that investing in fossil fuels is not acceptable, they will need to change their investment practices.  Campaigns are underway to do just that, like our Unisuper campaign.

Unisuper has 3 times the shareholdings of all Australia’s universities combined, getting a commitment from them to divest would be a huge win for the Australian divestment movement.  With over a billion dollars invested in the fossil fuel industry, Unisuper is channeling money into companies that will lay waste to some of Australia’s most amazing natural assets –  the Kimberley, the Great Barrier Reef and pristine areas of native bushland.  If Unisuper members knew that this was how there money was being invested I am not sure how happy they would be.

Yes it is true that Unisuper does offer some ‘ethical’ options, but if you scratch the surface, they are not that ethical, and are in the large part are still investing in the fossil fuel industry.  And in any case, we don’t want protecting our climate and our planet just to be an ‘option’, surely it should be the norm.

So if you are a member of Unisuper, let them know that you think investing in climate destruction is wrong.  Visit our website to find out how.

Members of other supers, it might be good for you to have a look too, may give you some ideas on how you could approach your super fund about divestment.