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Aussies prefer responsible super fund
More Australians (54 per cent) want to invest in a responsible super fund than a super fund that only considers financial returns, according to a national poll.
The survey from the Responsible Investment Association Australasia (RIAA) showed Australians wanted to invest in super funds that consider the environmental, social and governance issues of the companies they invest in.
This sentiment spans all age groups, with the highest level of support among young Australians aged 18-24 and those aged 50 or older (both 60 per cent).
RIAA CEO Simon O'Connor said seven in 10 Australians (69 per cent) think it is important for super funds to make responsible investments in companies that build clean energy infrastructure or avoid investments that harm like tobacco.
"This demonstrates the enormous potential growth in the responsible investment sector — with still only $152 billion or 16 per cent of total assets under management invested in responsible investment products," O'Connor said.
But close to half of Australians (47 per cent) agree there is not enough independent information available on switching to a responsible super fund, while more than two in five Australians (44 per cent) say they do not have the time to explore and compare options.
"We need to step up engagement and make it easier for members to choose products by providing information that is relevant, trustworthy and accessible," O'Connor said.
Women (60 per cent) are more likely to be interested in investing in a responsible investment super fund than men (49 per cent).
Men (51 per cent) are more likely to invest in a super fund which maximises financial returns than women (40 per cent).
The study surveyed 1026 Australians aged 18 years or older.
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