Melbourne-based midwife Elvira Earthstar has withdrawn her $200,000 superannuation balance from industry fund HESTA’s sustainable growth option, as new research released shows savers are becoming increasingly concerned large investors are failing to act on climate change.
A survey by Investment Trends found one in five self-described responsible investors divested from at least one responsible, or ESG product in the last year, naming perceived failures to drive positive outcomes as the main reason, followed by higher fees and lower performance, and difficulties in identifying responsible products.