New Research reveals Australians’ super invested in sectors they want to avoid

Billions of dollars of Australians’ superannuation is invested in industries linked to human rights violations, animal cruelty, environmental damage, weapons, social harm and fossil fuels, despite new consumer research showing nearly two in three Australians want their super fund to avoid investing in these issues of concern.

When scaled across the entire superannuation system, the findings suggest up to $450 billion could be invested in companies found to be linked to these issues.

Mindful Investing’s Inside Australia’s Superfunds: An ethical review of investment portfolios report assessed the disclosed listed equity and fixed income portfolio holdings of 31 MySuper and sustainable investment options from 15 major super fund providers, representing $882 billion FUM or 29% of the total superannuation industry.

It found that these funds invested $89 billion in issues of concern, with the greatest exposure to fossil fuels ($45.8 billion), human rights violations ($21.1 billion), and environmental harm ($18.8 billion).

The report also draws on new research conducted by Lonergan on Australians’ attitudes to superannuation which found Australians want to avoid investing in fossil fuels (69%), human rights violations (87%), and environmental damage (85%).

In addition, over 4 in 5 (84%) Australians expect their superannuation to be managed ethically, and over seven in ten (71%) would take action switching funds or investment options if they discovered their super was invested in sectors they wanted to avoid.

Mindful Investing’s report found on average 9.91% of MySuper options held investments exposed to one or more of the issues consumers want to avoid. Of the sustainable or socially conscious options, on average the funds were exposed to 4.98% of these issues of concern.

Mindful Investing CEO Barry Coates said there was a significant gap between the expectations of everyday Australians and the reality of where their super fund is invested.

“Australians will be shocked to discover their retirement savings are contributing to harm in the world, from funding weapons being used in wars to supporting companies that violate human rights and destroy our environment,” Mr Coates said.

Mindful Investing has created a free digital tool to help Australians see which areas of concern their superfund is investing in.

“Most super funds aren’t providing the transparency Australians need to make informed decisions about where their retirement money is invested,” Mr Coates said.

“We’ve created a free, interactive tool to make it easier for Australians to find out where their money is invested and empower them to make an informed choice.”

Mindful Investing is a program of the New Zealand charity, Mindful Money NZ, which provides portfolio disclosure on more than 400 KiwiSaver funds, the superannuation equivalent. This enables the New Zealand public to understand where their retirement money is invested and to make informed choices on their investments.

To access the tool and for more information Australians can visit www.mindfulinvesting.au.

Ends

Notes to editors

Mindful Investing’s Inside Australia’s Superfunds: An ethical review of investment report can be downloaded here.

Portfolio analysis methodology

Mindful Investing’s analysis identified the companies held in each portfolio based on publicly available disclosure, the same disclosure available to members, as at 30 June 2025. This enabled coverage of approximately two-thirds of the total fund value. The remaining holdings could not be assessed due to insufficient public disclosure.

The selected providers are those with a combination of the largest funds under management, the largest number of members and are available to retail investors according to APRA 2025. The analysis also included specialist ethical investment providers.

It was not possible to cover certain superfunds due to limited public disclosure on portfolio holdings or because the disclosures did not include a valuation of holdings for each portfolio.

All funds included in the report have been contacted and asked to check the accuracy of data we have used.

The full portfolio analysis methodology is available here: www.mindfulinvesting.au/australia/article/methodology-australia

Consumer survey methodology

The Lonergan Research surveyed Australians aged 18–65 years old, who use a superfund, throughout Australia including both capital city and non-capital city areas. The survey was conducted between 22 January 2026 to 27 January 2026 and in accordance with the ISO 20252 standard. The data was weighted to the latest population estimates sourced from the Australian Bureau of Statistics.

About Mindful Investing

Mindful Investing is a program of the New Zealand charity, Mindful Money NZ, which aims to make money a force for good. Since 2019, Mindful Money has provided portfolio disclosure to more than 500,000 members of the public, with six monthly updates on more than 1000 KiwiSaver funds (the superannuation equivalent) and retail investment funds. This transparency enables the New Zealand public to understand where their retirement money is invested. Mindful Money is governed by a Board of Trustees and has established an Investment Committee to provide expert advice on responsible investment issues.

Replicating this approach for the benefit of the Australian public, Mindful Investing aims to provide transparency on the portfolio holdings of Australian super funds, making it easier for Australians to know where their retirement money is invested. Mindful Investing have applied a proven methodology to assess the portfolio holdings disclosure and ethical characteristics of the largest super funds available to retail investors.

Support for the project

Mindful Investing is grateful for the support provided for this project from a range of organisations. Australian Ethical Investment contributed funding that helped cover the cost of the analysis and the digital tool. This funding did not confer any ability to influence the research methodology, analysis, rankings or findings. Mindful Investing independently conducted the research and retains full editorial control over the report and tool.

Many other organisations and individuals have also helped us understand the Australian market in order to compile the research and report, including Equity Generation Lawyers, ASFA, Ethical Advisers Coop, ACCR and Market Forces.

Disclaimer

The portfolio analysis presents data relating to environmental, social, ethical and governance attributes of investments and aims to enhance transparency for the benefit of the Australian public. It is not intended to imply any recommendation or opinion about a financial product. You should obtain independent advice before making any financial decisions.

Contact

Barry Coates
Founder and co-CEO

Email:info@mindfulinvesting.au
Website: www.mindfulinvesting.au

Media contact: Sophie Fitzgerald
Email: sophie@bluechipcommunication.com.au
0450712833