Invest In Clean Air & A Healthier Climate

The members of Australia's health superannuation funds collectively hold the power that comes with the hundreds of billions of dollars they have saved for retirement. These funds, meant to secure well-being and security in later years, are currently invested in a range of problematic industries, some of which contribute directly to the very health problems health professionals work to prevent and treat. This could not be any truer than for the investments that our health superannuation funds still hold in the coal and gas industries, which are fuelling the catastrophic climate change emergency.

Climate change, caused by greenhouse gases like methane, poses the most serious threat to public health. Rising temperatures and extreme weather events exacerbate respiratory illnesses, heat stress, and the spread of infectious diseases.

Methane, in particular, is 80 times more potent than carbon dioxide at trapping heat in the atmosphere over the short term. Leaks and releases from coal and gas production significantly contribute to this problem, and it is urgent that methane emissions be better regulated and rapidly reduced.

A 75% reduction in methane emissions from coal and gas is crucial to slow down near-term warming and safeguard public health from air pollution. Not only is this target achievable, with existing technologies and cost-effective solutions readily available, but it's also strategically chosen. The International Energy Agency (IEA) recommends a 75% reduction in methane emissions from fossil fuel operations, which is a key strategy to limit the worst effects of climate change and keep warming within 1.5%.

Coal and gas methane emissions are also a key contributor to significant health impacts. Because of methane’s role in causing and exacerbating climate change, the health benefits from reducing it in the atmosphere intersect with the health risks of climate change. The health risks associated with climate change are vast and wide-ranging. These impacts are also both slow-emerging as well as rapidly unfolding and escalating. For example, increasingly frequent and extreme weather events like heatwaves, floods, and droughts directly impact human health, causing heatstroke, dehydration, and the spread of illnesses. Rising temperatures also worsen air quality, with increased smog and allergens that trigger asthma attacks and other respiratory problems. Climate change also affects health security by disrupting food production and distribution systems, leading to malnutrition and food insecurity. These factors combined create a significant burden on healthcare systems and threaten the well-being of populations around the globe.

Beyond the immediate climate impact, reducing methane emissions from coal and gas production is critical for protecting public health from air pollution. When catalysed with volatile organic compounds, methane leaks from these industries contribute to the formation of ground-level ozone, a toxic lung irritant linked to respiratory problems like asthma, chronic obstructive pulmonary disease, and even heart disease. By advocating for a significant reduction in methane emissions, we're not just fighting climate change, we're also taking a stand for cleaner air and healthier communities.

So, why should we, as superannuation members, care about ethical engagement on methane emissions?

• Financial Risk: Methane emissions are not just bad for the environment; they're a financial risk. As countries transition to clean energy, fossil fuel companies face stranded assets and declining profits. We can ensure our investments are future-proofed by pressuring super funds to engage with companies on methane reduction.
• Long-Term Value: Clean energy solutions are not just good for the planet, they're a rapidly growing market. Holding high expectations from the fossil fuel industry to be as sustainable as they can as we transition to a green economy will better safeguard the long-term growth and returns from these investments.
• Shareholder Influence: Super funds are major shareholders in many Australian companies. We can leverage this collective power to influence corporate behaviour by working together. Imagine the impact if Australia's largest super funds demanded significant methane emission reductions from companies like Santos!

Ethical engagement is about responsible investment. Our super funds can use their shareholder voice to encourage companies to transition to cleaner practices, ultimately improving their long-term financial health and aligning their values with ours – a healthier planet for a healthier future.

Australia's top health supers are still invested in super methane polluters*.

Australian health superannuation funds hold tremendous financial power. By working together, we can leverage this power to encourage these funds to prioritize ethical engagement on issues like methane emissions and transition towards a clean energy future.

• We are talking to Australia's top health super funds: we want to know their plans to address methane emissions and their ethical engagement strategies with the fossil fuel companies they are still invested in.
• Spread the word: Share this campaign with your friends, family, and colleagues who are also members of health super funds to let them know about methane
• Demand action: Use your voice to call for a healthier future for our planet and ourselves

Together, we can build a future powered by clean energy, responsible investment, and a healthier world for all.

#HealthSuper

*Information as of March 2024