Future Super, a Canberra-based superannuation fund launched in 2014 for Australians looking to use their retirement savings to promote environmental sustainability, is offering what it claims to be the world's first climate-neutral super fund. Starting in September 2014, Future Super offered a fossil fuel-free super fund with a carbon emissions footprint of two tons a year for the average super member with A$100,000 ($71,200) in investments — a fraction of the 15 tons a year for members exposed to Australia's broader stock market.
Future Super said in a news release Wednesday in conjunction with South Pole Group, a global sustainability advisory firm, it had "upped the ante" — offsetting those residual carbon emissions with emissions-reducing investments such as renewable energy projects in China and Thailand. Simon Sheikh, managing director of Future Super, said with experts predicting an inevitable restructuring of the global economy away from fossil fuels by 2050, continued exposure to old energy sectors by Australians saving for retirement presents more risks now than opportunities.
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