Money talks when your money walks.
There are roughly 500 superannuation funds operating in Australia — and within these funds, Australians have invested $2.05 trillion of their cash. That’s more than our entire country’s GDP… I know, I was surprised too!
Well would you also be surprised to find out that of these 500 funds, only 1 superannuation company is 100% fossil fuel free? While a mere 9 others are at around 90% free… All the rest have deeply invested your hard earned money in dirty coal, fuel, gas, logging, fracking and a bunch of other nasty ventures…
Here’s a list of the most popular ones and how they invest: http://superswitch.org.au/funds
“Yeah… but what about the banks, man?”
Well, since 2008, Australia’s big 4 banks have loaned almost $37 billion dollars to fossil fuel projects, from coal and gas export ports on the Great Barrier Reef to Australia’s largest new coal mine in NSW’s Leard State Forest.
In effect, while you’re saving for your future, you’re simultaneously funding its destruction… I know, dark but true.
So, with all that nasty business out of the way, let’s look at how everyday Aussies can make an enormously positive impact through very little effort…
Your 4 step divestment checklist
It’s seriously so much easier than you might think.
- Look into your bank or superannuation’s involvement in fossil fuels here. Take note of how much money they invest in nasty practices and get mad about it. Mine were investing over $15 billion in coal, oil and gas!
- Click the green tab in the Market Forces link to look into the huge list of banking/super options that are not investing in the fossil fuel industries and make an educated decision of who you’d like to switch to.
- Open new bank/super accounts and transfer your cash. Personally, I chose Future Super and Bendigo Bank for their community work, great customer support and the fact that the transition was SO easy. It’s all about convenience these days, AMIRIGHT?
- Close your old shitty bank account. If asked, tell them why and that they had decades to make a change that would have made you stay, but they didn’t. So boo to them.
You have now officially divested and made a huge impact on our future. You go, Glen Coco!
Given all the concrete facts, divestment is certainly the most efficient and easiest way you can personally ensure a cleaner future — Seán Marsh
Disclaimer: I am in no way affiliated with any of the organisations mentioned, nor have I received any financial remuneration for writing this article.
Thanks for stopping by,