Retirement
Super funds called out over lack of animal welfare policies
New research has found that most Aussie super funds do not have an animal welfare policy.
Super funds called out over lack of animal welfare policies
New research has found that most Aussie super funds do not have an animal welfare policy.
The vast majority of Australian super funds do not currently have a public policy to prevent investing in animal cruelty, according to research released by World Animal Protection.
Only 16 of the over 200 super funds analysed by the animal welfare organisation were found to have an animal welfare policy in place, while the remaining 90 per cent do not.
“The reality for most Australians is that their super could be funding some of the cruellest industries like intensive factory farming, live animal export, and cosmetic testing on animals, without their knowledge,” said World Animal Protection interim country director Ben Pearson.
“We know most people don’t want their super funding animal cruelty, and it’s time for the industry to align their policies with the expectations of the Australian public.”
Polling by the World Animal Protection revealed that animal cruelty was the top area that Aussies most want their super fund to avoid investing in, ahead of human rights abuses, tobacco and gambling.
Sixty-two per cent of respondents said they would switch to an animal-friendly super fund if their existing fund was found to be investing in animal cruelty, while a further 28 per cent said they were undecided.
Additionally, 90 per cent of Aussies said they would not knowingly invest their money in animal cruelty.
“We’re calling on Australians to hold their super funds accountable and start by asking their super funds about their animal welfare policy. If they don’t have one, ask them why,” said Mr Pearson.
“The Australian super industry manages over $3 trillion worth of assets and is increasingly looking to invest in agricultural industries, so it’s critical that we shine a light on the investment practices of super funds.”
The survey found that 55 per cent of Aussies would be willing to contact their super fund to find out about how they manage animal welfare in their investment decisions.
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