Australian super funds continue to improve their procedures with regard to addressing environmental, social, governance, ethical and climate related issues. In its second annual review of the superannuation sector in respect of the above issues, covering some 76 funds representing over 15 million members and approximately $370 billion in assets, SuperRatings has highlighted some interesting trends among Australian superannuation funds.
The results indicate that during the 2008/09 year, an increasing number of funds have jumped on the “green bandwagon” as they realise the long-term economic implications of failure to do so.
10 Funds Qualify for an “Infinity Rating”
“Quite clearly more and more funds are moving up the “green” scale. With the increasing focus on our environment and society, SuperRatings has moved to assist consumers by identifying the group of superannuation funds that have genuinely embraced sustainable changes. By doing this, SuperRatings intends to provide a mechanism for people to cut through marketing rhetoric and identify funds that truly align with their own personal values and beliefs” says Mr Bresnahan.
Just 10 funds out of the 76 surveyed have been awarded an “Infinity Rating” with Australian Ethical Retail Superannuation Fund named the most sustainable super fund (Infinity Award Winner) for 2009.
To further assist consumers, SuperRatings is now measuring the ongoing performance of socially responsible and sustainable superannuation investment options through the introduction of the “SR Sustainable Australian Shares” and “SR Sustainable Balanced” Indices.
For further information on SuperRatings’ sustainability research, the full list of Infinity Rated funds and more details of the SR Sustainability Indices, click on the Latest Media tab where you can view the full Media Release. The new Infinity Award and Ratings will be published on the website in early April.