POWERED BY MOMENTUM MEDIA
Millennials using super to back climate change action
Young Australians are putting their money where their mouth is when it comes to climate change, according to data from millennial superannuation fund Zuper.
The tobacco and nuclear-weapon free fund launched late last year helped Australians add green, health and technology investments to their super funds using exchange traded funds (ETFS) from BlackRock.
They were low-cost investment products that the wealth manager believed would benefit from global megatrends that reshaped economies, like climate change.
Jess Ellerm, Zuper chief executive, said half of Zuper members chose to remove carbon-intensive fossil fuels from their super when joining.
“Over two-thirds of our members also go the extra mile, adding at least one of our health, green or tech options to their super,” Ellerm said.
The fund had invested in global clean energy and water companies with those ETFs returning 21% and 34% this year.
Two-thirds of Zuper members are under 35 years-old, a demographic that had been increasingly frustrated by lack of action on climate change.
The data was released in the lead-up to Friday’s climate strike, which showed younger Australians actions had aligned with their attitude on the issue.
“You don’t necessarily have to leave work on Friday to show you believe in climate change - you can strike with your money by switching your super to be climate friendly,” Ellerm said.
“As our data shows, you’ll possibly increase your long term wealth in the process too.”
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
