Support the resolutions for UniSuper to align with a 1.5°C pathway
Thanks to members like you taking action, we’ve come a long way in the last few years. UniSuper has more than halved its exposure to fossil fuels, dumping thermal coal investments and significantly reducing investments in climate wrecking oil and gas companies like Santos and Woodside.
However, the fund still has more work to do to align its investments with the climate goals of the Paris Agreement.
Demand UniSuper brings its investments into line with the Paris climate goals by supporting these resolutions.
Support the resolutions
This page contains factual information that is not intended to imply any recommendation or opinion about a financial product.
The resolutions being proposed are intended to bring UniSuper closer to managing its climate-related risks. They are structured around addressing three main shortcomings of UniSuper’s current approach:
- UniSuper’s commitment to the Paris Agreement needs to be supported by clear policies and strategies.
- UniSuper’s methodology for assessing companies’ Paris alignment needs to be vastly improved and based on peer-reviewed methodologies.
- UniSuper’s engagement strategies need significant improvement.
The resolutions are based on best-practice methodologies currently available, which leading financial institutions have already adopted.
You can read the resolutions and supporting information in full here.
The Consultative Committee
Each of UniSuper’s shareholder universities elects up to four representatives to the Consultative Committee to be ‘the voice of the members’. This committee engages directly with the UniSuper board and is due for a round of meetings with the board to be held in Melbourne at the end of November.
Saphira Rekker is one of the Consultative Committee representatives for the University of Queensland. She is a Senior Lecturer in Sustainable Finance at the University of Queensland with a PhD in Climate Finance. Saphira has collaborated with globally significant financial institutions and climate benchmarking initiatives to guide efforts to align with the climate goals of the Paris Agreement.
Saphira has tried to engage with UniSuper on these issues and hoped it would have led to UniSuper addressing the gaps in its climate strategies. However this has not been the case, so Saphira feels these resolutions are necessary to ensure UniSuper accurately manages climate change transition risks by aligning itself with the Paris Agreement.
Dr. Saphira Rekker, Senior Lecturer in Sustainable Finance at the University of Queensland.
Frequently asked questions
How does the consultative committee work?
UniSuper’s Consultative Committee is made up of 148 members from the 37 universities that together own UniSuper. The committee provides direction and support to the fund’s board and assists with the strategic direction of UniSuper. The committee is responsible for nominating 4 directors to the board. Half of the Consultative Committee members represent the employers, and the other half represents academic and professional staff. The committee meets with the board twice a year and can propose and vote on resolutions.
Are the resolutions binding?
While the resolutions aren’t binding, they creates significant discussion and pressure among the board, CEO and management team at UniSuper. Strong support for the resolutions from members and the Consultative Committee will demonstrate their expectations to these decision makers. Given the Consultative Committee nominates 4 directors to UniSuper’s board, failure to act in line with the committee’s expectations could see board members lose support.
I keep sending UniSuper emails – is this making a difference?
Yes! It can feel frustrating sometimes sending email after email and feeling like it isn’t having an impact. The reality is UniSuper cares about what its members think and over the last few years the emails, petition signatures and actions taken by members have helped push UniSuper to halve fossil fuel exposure. This means your actions have resulted in UniSuper divesting billions of dollars from companies expanding fossil fuels.