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
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
