@raiderup; the behaviour of superannuation fund trustees is being tested and is already having global knock-on effects as over-investment in the fossil fuel sector may be judged as irresponsibly exposing investors to high risk investments against their wishes. :
"... In July, a landmark trial will take place in a Sydney courtroom that could potentially change the way superannuation funds invest Australians' almost $3 trillion in retirement savings. ..." "... Mr McVeigh has alleged that REST has failed to protect his retirement savings from the financial devastation that will flow from climate change.The case, first brought in 2017, followed Mr McVeigh asking his super fund to provide him with disclosure about what it was doing to mitigate climate-change-related risks."Since we launched the case, it's really snowballed and changed," Mr McVeigh told ABC News ..." "... "If these funds are not thinking about climate change, the assets they are investing in — for example, fossil fuels — could become stranded assets and could put at risk the investment returns of superannuation fund members." ..." "... This week the CEO of the world's largest funds manager, BlackRock's Larry Fink, announced the $US1.8 trillion ($2.6 trillion) in assets the fund actively manages will no longer be invested in companies that generate more than 25 per cent of their revenue from thermal coal production.Mr Fink, who has faced much pressure from climate change activists over the years, told US media that he made the decision not because he was an "environmentalist" but because he was a "capitalist". ..."
