The screening out of fossil fuel companies aligns with insights from the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC), which demonstrates the diminishing viability of fossil fuels and the growing economic risks associated with these assets as governments and corporations around the world progress towards their net zero commitments.

With Responsible Investment Association of Australasia (RIAA)’s latest findings that 88% of consumers expect their superannuation to be managed responsibly and ethically, this move also meets member expectations.

Sharon Davis, Executive Director of Investments at Future Group, said: “Superannuation is a long-term investment, and we have a responsibility to safeguard our members from the asset risks associated with fossil fuel companies and other harmful industries. The decision is a proactive step to ensure sustainable growth and financial security for our smartMonday and Guild Super members. It’s also part of a wider program of reinvestment in climate solutions and positive impact investments across all our superannuation funds that we have recently acquired.”

Through close collaboration with Future Group, Scientific Beta has helped develop an investment strategy designed to enhance long term performance while aligning with Future Group’s sustainability objectives.  Equity Trustees is the Responsible Entity of the new international equities investment.  State Street Global Advisors acts as the implementation manager for the investment.

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