A major consumer poll conducted by Lonergan Research and commissioned by the Responsible Investment Association Australasia (RIAA) has revealed that there is a growing demand for ethical and responsible superannuation funds.
- Four out of five Australians would consider changing their super or other investments to a different provider if their current fund engaged in activities inconsistent with their values.
- Nine in 10 expect their super or other investments to be invested ethically and responsibly.
- Millennials are leading the changes as the most likely group to invest in a responsible fund.
There is a challenge surrounding understanding and access to information, with 56 per cent of the population believing there is not enough independent information regarding switching to ethical or responsible super funds.
RIAA’s executive officer Simon O’Conner said consumer sentiment is mirroring the continued growth in the sector, with almost half of Australia’s assets under management invested through responsible investments. More Australians are showing a desire for their savings and investments to align with their personal values.
He continued to say that a vast majority of Australians want their super invested in companies that build clean energy infrastructure and avoid investments that can harm the community.
Millennials are the most likely group to invest in responsible super funds that consider social, environmental, and governance issues, while also maximising financial returns, while also being more likely to make responsible and ethical investments.
RIAA has launched a webtool to connect Australian consumers with products that match their responsible and ethical values.