Superannuation funds have drastically increased their investments in renewable power infrastructure in the past decade, new research shows, at the same time as debate rages over whether Australians’ retirement savings should be used for ‘nation-building’ schemes such as the energy transition.

Direct super fund investments now account for about five per cent of the country’s overall renewable energy capacity and 10 per cent if indirect holdings are included, according to data from the Association of Superannuation Funds of Australia (ASFA).