ABOUT CARE SUPER
CareSuper is an industry superannuation fund, open to people of all occupations, but membership base is primarily made up of people in professional, managerial, administrative and service occupations in all business sectors. It has $19.7 billion in assets and over 230,000 member accounts as of June 30 2021.
CareSuper should expand its controversial weapons screen to all investment options.
CareSuper’s definition of controversial weapons includes landmines, cluster munitions, chemical and biological weapons, depleted uranium weapons and nuclear weapons, but this applies only to their Sustainable Balanced option. ESG factors are ‘considered’ but there is a lack of clarity about implementation across the wider portfolio.
Examination of shareholder voting records in October 2021 showed that CareSuper held shares in two nuclear weapons-related companies in the 2020/21 financial year.
CareSuper advised in November 2021 that these holdings have since been divested.
Read our detailed assessment of Care Super’s policy and practice in our 2021 report.