We recently asked our members how we could improve our SRI - Balanced option. The response was great, and we received a lot of very helpful feedback which we’ve acted on by announcing a range of improvements.
Our SRI - Balanced option seeks to reduce exposire to fossil fuels and other particular industries, and invests in certain assets that contribute to sustainable outcomes.
“We recognise climate change as a material financial risk, as well as an environmental and community one. We found through talking with our members that they’re passionate about this issue and so we’ve made some significant changes to our SRI- Balanced option.”
- David Elia, Hostplus CEO
Our SRI - Balanced option now excludes all fossil fuels.
The option doesn’t invest in companies that own reserves, explore, mine, extract, produce, refine or generate energy from fossil fuels. Companies that receive revenue from servicing these sectors by providing equipment, pipeline transport or distribution are also excluded.
The option also avoids a range of other factors that our members identified as important too, such as companies that:
- breach human rights or labour rights standards
- have very poor environmental, social and governance policies
- engage in, are involved in the production of, or use:
- controversial weapons
- uncertified palm oil
- predatory lending
- for-profit detention
- gambling
- tobacco production
- and live animal export.
Investing in renewable energy, green buildings and healthcare and medical solutions
Members also said they’d like to see us invest more in areas that contribute to sustainable outcomes – particularly renewable energy, green buildings and healthcare and medical solutions.
These are areas that we invest in through investment options such as SRI - Balanced and our default Balanced (MySuper) option.
We're one of the largest Australian investors in venture capital, so our investments also include companies that aim to combat the challenges of climate change, through new and more efficient sources of clean energy1, such as:
Sustainable returns for your future
Our primary objective is to optimise members’ retirement outcomes. We do this by striving for excellent investment returns while keeping our fees as low as possible.
The good news is we’ve made these improvements to SRI - Balanced with the expectation that the option will continue to earn sustainable returns for your future and won’t cost any more than our default Balanced (MySuper) option.
Ready to make the switch?
1. Source: Commonwealth Fusion System, Swift Solar and First Light Fusion
The information in this article is correct as at time of publication.