Super Switch | IOOF MultiMix Balanced Growth Trust

Tell IOOF to divest
from fossil fuels Tell IOOF to disclose
all their holdings Contact
IOOF

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Are You A Member?
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Dear IOOF, I understand that IOOF is exposed to the fossil fuel industry. This is very disappointing, as I am concerned about the impacts that the fossil fuel industry has on our natural environment, in particular its role as a major driver of greenhouse gas emissions. We urgently need to reduce greenhouse gas emissions to avoid the worst impacts of climate change and I certainly do not want to be invested in an industry that is driving the most serious environmental issue of our time. Beyond climate change, the extraction, transport and combustion of fossil fuels results in the destruction of precious farmland and forests and the pollution of air and water. In many cases the localised damage to ecosystems and human health is irreparable. I am writing to make an official complaint that IOOF is not fulfilling its fiduciary duty, by managing my money in a way that condones environmental harm and threatens my long-term financial security. I want to know whether IOOF is prepared to divest, or significantly reduce its exposure to fossil fuel companies. I will be contemplating whether or not I should remain with you over the next fortnight and your response will help inform my view. Please respond within the next fortnight to explain how and when you intend to disclose all of your investments.

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Dear IOOF, I recently learned that IOOF has a low exposure to the fossil fuel industry through its shares investments. Fossil fuels are of concern to me because of their impacts on our land, water, air, environment and local communities. They are also a key source of greenhouse gas emissions, which urgently need to be reduced if the world is to avoid catastrophic (or the worst effects of) dangerous climate change. I congratulate you on the steps you are taking on this issue and hope you will continue to look for ways to ensure your disclosure and investment activities follow principles of transparency and support for a low-carbon future.

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