The class action risk for super funds dumping resources

A decision by the trustees of ANU’s superannuation fund to divest resources holdings could result in members taking legal action.

Trustees of big superannuation funds like the Australian National University are taking considerable personal risk if they divest fossil fuel resource stocks as a result of their personal environmental beliefs.

There are people already making preliminary preparations for such actions against trustees should members of the funds suffer. Those actions are being considered on a national interest basis but of course, will be years away.

And while I am not normally in favour of such actions, big superannuation funds are there for member benefit, not to invest on the basis of the personal beliefs of the trustees.

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