CLIMATE
NEWS & CAMPAIGNS
Pressure building on UniSuper to
divest from fossil fuels NTEU’s campaign inviting tertiary education staff to call on the UniSuper Board to divest its funds from the polluting companies fuelling the climate crisis appears to be having the desired effect.
This is the largest ever vote in favour of divestment on the consultative committee – and it will only continue to grow.
With more than 4,200 people having signed the open letter to UniSuper Board members, we understand that the Directors and investment staff have heard the loud chorus of voices demanding smart, safe investments, and are considering how to respond. On 30 April the UniSuper Consultative Committee (comprising an equal number of staff-elected and employer-nominated representatives from each university) met to consider UniSuper’s policy and approach to climate change and investment. At the pre-meeting of employee members of the Consultative Committee, over 60% of employee representatives adopted NTEU's goal of fossil fuel divestment by 2030.
Michael Evans National Organiser (Media & Engagement)
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When this resolution was put to all members of the Consultative Committee, it was narrowly lost because
Sentry
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MAY 2021
of the weight of the universitynominated representatives voting as a bloc. However, some 35% of all Committee members supported our 2030 goal. This is the largest ever vote in favour of divestment on the Consultative Committee – and it will only continue to grow. The meeting was told that, by the end of 2021, UniSuper's fossil fuel investments will be significantly further reduced. The pressure from this campaign is adding to the momentum for full divestment from these investments. The next steps in the campaign will be to leverage the pressure applied by fund members in seeking UniSuper’s commitment to our campaign objectives: • Commit that by no later than 2030 all invested funds and superannuation products will be fossil fuel free. • Commit to designating a sustainable investment option to be the default Accumulation superannuation option.
