Is your Super or Investment Fund on the Market Forces' Climate Wreckers Index?
The vast majority of climate damage is being done by a relatively small number of companies around the world. Market Forces has just launched a new index outlining the top “climate wreckers" in Australia, and identified the 190 companies doing most of the climate wrecking through their coal, oil and gas expansion plans globally.
Analysis by Market Forces of the default or largest investment options of 30 of Australia’s largest super funds reveals these options have collectively more than doubled their investments in "Climate Wreckers Index" companies over two years, with more than $39 billion invested in the companies most responsible for exacerbating climate change.
The average Superannuation investment option has nearly 9% of its members’ share investments in these companies. If this average were consistent across the $3.7 trillion superannuation industry, over $150 billion of Australians’ retirement savings – an average of more than $6,200 per member account – would be invested in this small but devastatingly dangerous group of companies driving us towards catastrophic climate change!
To find out if your super fund is on the Climate Wreckers index list and take action by contacting your fund simply plug the name of your fund and your contact info into the Market Forces action page here and send an instant email to the fund to tell them you want them to ditch climate wrecking companies now.
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