WHAT LEVERAGE CAN NTEU Members HAVE ON UNISUPER?
As members of UniSuper, NTEU members are key stakeholders in how the Fund is run, and how our money is invested.
The NTEU has no ownership of UniSuper and presently nominates only two positions on a Board of eleven.
While the NTEU is a stakeholder and has some influence, we need to build a public campaign for change to convince the rest of the UniSuper Board.
What impact will this have on my retirement income?
With an orderly withdrawal from the market there should be negligible impact on the retirement income of members of the Fund.
Our ten-year time frame for all invested funds, options and superannuation products to be fossil fuel free balances the urgent need to divest with the responsible protection of members retirement incomes. UniSuper has pledged to do this by 2050 but we believe a 2030 timeframe is realistic and responsible.
WHY IS NTEU SUPPORTING A 10 YEAR PERIOD TO DIVEST FROM FOSSIL FUELS other than coal?
UniSuper’s existing policy is to achieve zero net emissions across its investment portfolio by 2050. A 30 year horizon to attain this outcome is way too long whereas a 10 year timeframe to divest from fossil fuels strikes a responsible balance between taking meaningful action on climate change and protecting the best interests of members of the fund.
How does this campaign connect with market forces?
The NTEU and MarketForces are allies for climate justice. Our campaign is complimentary to MarketForces, but ours is informed by the democratic decisions of NTEU members and the various motions passed at democratic fora of the NTEU.
Why is the NTEU running this campaign?
If last year’s bushfires & this year’s floods taught us anything, it is that the need for action on climate change is urgent.
The latest report from the Australian Academy of Science is haunting and calls for urgent action now to stop catastrophic consequences.
We can all help by making sure our retirement funds are not invested where they supercharge climate change, causing more frequent and more extreme weather events and threatening our futura.
WHAT ELSE IS NTEU DOING ABOUT CLIMATE CHANGE?
We actively support campaigns for climate justice and we’re applying pressure to universities to cut pollution.
We are also allies with the School Strike 4 Climate movement and will continue to apply pressure on politicians and the Government.
HOW CAN I GET INVOLVED?
First, sign the petition!
Second, share with your family, friends and co-workers, via social media, email or word of mouth.
Third, sign up to be a part of NTEU actions. We will direct you to the nearest NTEU climate action group and let you know when actions are happening in your local area.