Australian superannuation funds doubled fossil fuel investments to $39bn in 2023, while clean energy investments declined to $7.7bn.
Australian superannuation funds have doubled their investment in fossil fuels over the past two years, with $39bn invested at the end of 2023. Despite climate pledges, clean energy investments have declined, with $7.7bn allocated to clean energy companies, while every super fund increased investments in the Climate Wreckers Index (coal, oil, and gas companies). Market Forces warns funds to improve actions to avoid scrutiny or legal action for 'greenwashing'.
May 27, 2024
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