You can now help protect the Amazon through your superannuation
In a week of global climate strikes, Australian Ethical has pledged to protect five acres of the Amazon rainforest for every new superannuation member.
The Amazon rainforest, known as the lungs of the planet, has been burning for more than a month now. While it's easy to feel powerless about these wide-spread fires, Australians can now help protect the rainforest by switching their super to Australian Ethical. The fund manager has today announced it will protect five acres of the precious Amazon rainforest for each and every new member to join Australian Ethical Super. The announcement comes in a week where hundreds of thousands of students and workers are striking for action on climate change.
Australian Ethical has partnered with Rainforest Trust and HalfCut, two not-for-profit organisations committed to raising money to protect the Amazon. Chief Customer Officer at Australian Ethical Allyson Lowbridge said its members are increasingly concerned about the state of the planet. In fact, research by the fund manager shows climate change is the number one concern for Australians, overtaking the cost of living for the first time since the research began.
"Deforestation is escalating and while fires in the Amazon are drawing attention to the problem, there is still not enough money being invested to protect the world's forests, despite their capacity to combat the climate crisis. Out of the USD 256bn committed globally to mitigating climate change, only 1.5 per cent goes to stopping deforestation, even though forests could help provide as much as a third of the solution," said Lowbridge.
This latest pledge to protect the Amazon aligns with Australian Ethical Super's ethical investment strategy. The fund invests in industries like waste management, clean energy, responsible banking and healthcare while avoiding companies involved with tobacco and weapon manufacturing.
Australians have realised the power of money to create change and that they don't have to sacrifice investment performance to protect the planet and have a comfortable retirement," said Lowbridge.
"The window for effective climate action is closing fast and the decisions we make today will determine the security of the future of the planet as we know it. We want to help people understand the difference they can make with their money and hope they will join us in this defining movement."
The fund will protect five acres of the Amazon for each new member to join before 3 October 2019.