ASIC issues infringement notice to Future Super Investment Services for greenwashing
COURT OR TRIBUNAL
Other
DATE FILED (OR FIRST HEARING DATE)
27/04/2023
LITIGATION TYPE
Corporate Accountability
SUBJECT MATTER
Transparency/disclosure
REVIEW TYPE
N/A
SUMMARY
ASIC issued an infringement notice to superannuation fund promoter Future Super for greenwashing. A Facebook post by Future Super may have been false or misleading by overstating the positive environmental impact of the Fund. Quotes in the post included “Naysayers don’t join together to move nearly $400million out of fossil fuels” but at the time there was no basis to represent that the Fund's total $400 million funds under management had been invested in fossil fuels prior to being invested in the Fund. Future Super paid $13,320 in compliance with the infringement notice. Payment of an infringement notice is not an admission of guilt or liability.
CASE DOCUMENTS
ASIC issues infringement notice to Future Super Investment Services for greenwashing
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