Many Australian banks and superfunds invest in fossil fuel projects. So take your money away from them!
If your money is in a bank or a superannuation fund which invests in fossil fuels, your money is being used to prop up a polluting and unhealthy industry which is on the way out.
Moving your money out of these institutions means:
- Your money will be used in a more ethical manner
- You're sending a market signal to these institutions that they will lose customers if they do not change their policies.
As of June 2020, institutions managing more than US$14 trillion have committed to divest, while more than 58,000 individuals have registered divestment commitments of $5.2 billion. To learn more about the history and power of divestment, check out this Market Forces' summary.
How to divest your money in the bank
- Use this table to find out if your bank invests in fossil fuels
- If your bank does invest in fossil fuels, check out the banks which do not using the same table as in Step 1
- To change banks, follow this step-by-step guide by Market Forces.
How to divest your superannuation money
- Use this table to find out if your super fund invests in fossil fuels
- If they do, look at the super funds marked ‘Comprehensive’ — these have no exposure to any fossil fuel projects
- Switch! Whichever super fund you choose will have instructions on their website