Public sector super fund VicSuper has launched a socially responsible investment option after finding 84 per cent of members would consider using it.
VicSuper has revamped its Equity Growth Sustainability option as its new Socially Conscious investment option.
The investment option uses a custom index designed for VicSuper that combines the MSCI Global Fossil Fuels Exclusion Index, the MSCI Global Socially Responsible Index and an additional fossil fuel direct activity screen.
The option has been certified by the Responsible Investment Association of Australia as a socially responsible investment option.
VicSuper's announcement comes after member and employer research that found 87 per cent of respondents believe socially responsible investing is important.
"When asked about the Socially Conscious option, 84 per cent of surveyed VicSuper members indicated that they would consider moving some or all their investments to it," said the fund.
VicSuper’s manager of corporate responsibility Kirsten Simpson said, "Most people don’t realise that they can make a real difference through their super. VicSuper has had a long-term commitment to sustainability issues, and now with our Socially Conscious option, our members can invest in alignment with their social and environmental values and not pay any extra to do it."