Australian Ethical has launched a new campaign via creative agency Do, aimed at encouraging all Australians to better understand the impact their super may be having.
Nine in 10 Australians expect their superannuation or other investments to be invested responsibly and ethically.
However, most Australians don’t know what their super money is invested in due to lack of transparency in the superannuation and investment sector, according to leading ethical wealth manager Australian Ethical.
Their latest campaign reveals how many Australians don’t realise their mandatory super contributions could be invested in companies that damage the environment and may negatively impact society.
Australian Ethical managing director Phil Vernon said the campaign encourages Australians to find out for themselves whether they are unwittingly investing their super in such things as coal and gambling.
He said: “At Australian Ethical, we want to spark a conversation that prompts more Australians to actively investigate what their super money is invested in.
The campaign follows Commissioner Hayne’s final report into Misconduct into the Banking, Superannuation and Financial Services Industry, which lays bare the many deficiencies plaguing financial services in Australia.
The Royal Commission’s final report discusses the need for greater transparency measures within superannuation.
Vernon said: “Much of the focus of these transparency measures in super are on fees and performance – and these are highly important – but we believe the time has come to widen the discussion to include transparency of investments.
According to the Responsible Investment Association of Australasia, ethical investing quadrupled in Australia between 2014-2017.
With this shift towards ethical investing, there is an increasing awareness of the important role super funds can play to ‘do good’ for the environment and society in general.