Northrop takes SUPER climate action
As part of Northrop’s accelerating climate action, we have achieved another significant milestone by switching our default superannuation fund to Australian Ethical. Australian Ethical directs investment towards renewable and restorative activities, helping us move towards a more sustainable future. By default, new employees will now have this climate responsive superannuation fund available to them.
A 2018 study carried out by the Institute for Sustainable Futures at the University of Technology Sydney revealed that Australians could fund the nation’s transition to a 100 percent renewable energy power sector by 2030 with an investment of just 7.7 percent of the nation's superannuation savings. This is extraordinary leverage that could be gained using savings that are already there.
There are several super funds that avoid investment in activities that contribute to global warming. After careful consideration we felt that Australian Ethical best aligned with Northrop’s Climate and Biodiversity Emergency commitment through Engineers Declare.
This is a purpose-driven initiative for us. Whilst we do not provide financial advice relating to super funds, we encourage our people, our families and our clients to consider how they might put their super to work in responding to the climate emergency.