Community Campaigner and Founder of Future Super
Sheikh was the National Director of the Australian political organisation ‘GetUp!’ from 2008 to 2012. He was also named New South Wales Young Professional of the Year, and was a delegate for the economics stream of the 2020 summit. Since then, he has become the founder and managing director of Future Super.
Are there fossil fuel free Super funds?
"Australia’s superannuation industry is a $2 trillion sector, with much of its funds exposed to the fossil fuels industry. It doesn’t take a genius to spot the opportunity to shift capital markets, and in doing so, driving investment out of dirty energy and into renewable energy.
What we’re seeing now is huge momentum behind financial institutions that are starting to understand the issue of climate change. We’ve shown them that the risks associated with investing in fossil fuels outweigh any possible short term reward. Since we’ve launched we’ve seen a highly volatile fossil fuel sector from a financial perspective. As the Rockefellers pointed out, “if you’ve been in coal then you you haven’t done well”
FutureSuper has a positive screen, and part of our ethical investment process sees us shift gears out of fossil fuels, gambling and tobacco, and into positive industries that could help our future. Renewable energy is one of them, and so is water and resource recycling, public transport and healthcare. These are all the industries that are driving the growth of the economy, so there is an opportunity for Australian investors to be a part of that growth.”
There are a wide range of fossil fuel free options for your Superannuation and Investment portfolios. Contact a Co-op Adviser to find out more