The National Tertiary Education Union (NTEU) is today inviting tertiary education staff in Australia to join its campaign calling on the UniSuper Board to divest its funds from the polluting companies fuelling the climate crisis and risking fund members’ retirement.
“Our superannuation is there to protect our future and quality of life in retirement,” NTEU National President Dr Alison Barnes said today.
“A growing number of tertiary education staff, economic experts and climate scientists are concerned that billions of dollars of our retirement savings are being invested by UniSuper in industries which put our savings – and the future of our planet – at risk.
“If enough of us write to the board in big numbers, I know we can make the switch,” Dr Barnes said.
NTEU has developed a dedicated web site – https://divestunisuper.nteu.org.au/ – to inform members and university staff about the divestment campaign and enable them to send a message to each of the UniSuper Board Directors.
“The world – and the smart money – is moving away from the ‘stranded asset’ risks associated with coal, oil and gas. This very week, US President Joe Biden will host 40 world leaders at the Leaders Climate Summit, and domestically he’s investing US$1.7 trillion in clean technology and climate action,” Dr Barnes said.
“We know from UniSuper’s disclosures that at least 10% of its Australian share investments are in companies undermining the Paris Climate Accord, including BHP, Woodside and APA. That’s billions of our dollars funding the climate crisis.”
“If we can help move UniSuper to make better choices, we can protect our ecological and economic security in retirement.”