Nine in 10 Australians expect their superannuation or other investments to be invested responsibly and ethically. However, most people don't know what their superannuation funds are invested in due to a lack of transparency in the superannuation and investment sector, according to leading ethical wealth manager Australian Ethical.

The Sydney based firm has this month launched a bold new campaign aimed at encouraging all Australians to better understand the impact their super may be having. The campaign highlights that many Australians don’t realise their mandatory super contributions could be invested in companies that damage the environment and may negatively impact society.

Mr Phil Vernon, managing director of Australian Ethical, said the campaign encourages Australians to find out for themselves whether they are unwittingly investing their super in such things as coal and gambling.

“At Australian Ethical, we want to spark a conversation that prompts more Australians to actively investigate what their super money is invested in,” said Mr Vernon. “We also call on the super sector to make it much easier for members to quickly know whether they are investing in organisations that support such activities.”

The campaign follows the release last week of the final report of the Royal Commission into Misconduct into the Banking, Superannuation and Financial Services Industry, which outlines the many deficiencies plaguing financial services in Australia. The report discusses the need for greater transparency within superannuation.

“Much of the focus of these transparency measures in super are on fees and performance —and these are highly important —but we believe the time has come to widen the discussion to include transparency of investments,” said Mr Vernon.

He said the questions Australians should ask their super fund include:

• What is my fund’s philosophy on ethical investing?
• What sectors/companies does my fund invest in and where won’t it invest?
• What’s the impact of these investments, for example, on the environment and on society?
• How is my super fund using my money to make a positive difference?