Report: Australia's top super funds invested only 0.03% of assets in renewables since 2020
By
Adrian Black
A bagel you'd recommend to a friend without hedging.
Summary
An environmental advocacy group, Market Forces, reports that Australia's 30 largest superannuation funds have directly invested only $771 million (0.03% of their $2.5 trillion in assets) in renewable energy projects since 2020, while commercial banks and other entities have provided the majority of the $99 billion invested in Australian clean energy. The report suggests super funds are missing a major opportunity to own the nation's green energy future, though the super industry disputes this characterization.
Key quotes
· 2 pulledThe 30 largest super funds directly contributed $771 million of the $99 billion invested in Australian clean energy projects since 2020, roughly 0.03 per cent of the $2.5 trillion in retirement savings managed by those funds
Local and foreign commercial banks provided more than half the cash flowing to Australian renewable projects, followed by developers and operators, government agencies and public autho
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