Australians set to make their money matter
26 October 2020 at 8:15 pm
The campaign will officially launch in early 2021
With the superannuation industry holding nearly $3 trillion in assets, a campaign fighting for a transparent and ethical super and pension industry is now heading to Australian shores.
While the first Make My Money Matter (MMMM) campaign was officially launched in the UK back in June, Impact Investing Australia announced on Monday that it has signed a memorandum of understanding with the UK branch to bring the campaign to Australia.
The people-powered initiative, co-founded by British film director Richard Curtis and Jo Corlett, is urging individuals to make the switch to pensions that invest money in clean causes, as well as to send letters to funds and employers to push for change within the industry.
Sally McCutchan OAM, the CEO of Impact Investing Australia, told Pro Bono News that the Australian campaign was still in early planning stages, but that the focus would be on raising public awareness.
She said that most Australians weren’t aware of the impact of their superfund, and that had to change.
“The point of a campaign like this is about raising awareness, because people don’t necessarily connect their super with having an impact on the future,” McCutchan said.
“But I think those days are gone and we just need to be really cognisant that the way our money is invested does matter.”
She added that it made sense for IIA to be leading the charge on the campaign.
“It is really important that super funds generate a financial return so that people have money to retire with, but we would say it’s also important that they make sure that they get good social outcomes for their members as well,” she said.
“And that’s what impact investing is. And so this absolutely fits within the remit of what we’re trying to achieve as well.”
IIA is now in the process of recruiting partners to back the campaign, with the official launch expected to take place at the start of 2021.