Statewide Superannuation has set up a foundation to fund sustainability projects within the superannuation industry.

The South Australia-based multi-industry fund will kick-start the Joy Palmer Foundation by contributing $120,000 over the next three years for environmental, social and governance (ESG) related projects.

The foundation will also accept further contributions of any amount from interested parties.

Applications for funding are open to anyone in or investing in the super industry Statewide Superannuation chief executive Frances Magill said.

All expressions of interest and assistance to the foundation can be made via the Statewide Superannuation Trust.

"We are looking at funding ESG projects, traineeships and perhaps doing some work with the United Nation Principles for Responsible Investment," Magill said.

Former chairperson of Statewide Superannuation Trust Joy Palmer was a well-known industry leader who died last year after a battle with breast cancer.

Palmer was also a member of the Australian Institute of Superannuation Trustees and a board member of the Australian Government Employees Trust.

The foundation was also aimed at commemorating Palmer's contribution to the super industry, while also fostering the next generation of leaders.

"Joy was passionate about ensuring superannuation provided a safe and financially secure future for thousands of Australians," Statewide Superannuation Trust chairperson Nick Begakis said.

"It would be fitting for the foundation to provide funding and support to young people within the industry who show a commitment to sustainability and governance, as these areas are vital to the future of superannuation."