The NTEU has passed a motion expressing concern about fossil fuel investments, but which does not demand full and immediate divestment.
The NTEU National Council has resolved to:
“request UniSuper urgently prepare a ten-year plan to transition all invested funds to be fully carbon neutral by 2030.”
Firstly, ‘carbon neutrality’ is not equivalent to divestment, but can include funds which invest in fossil fuels whilst engaging in ‘offsetting’ and other greenwashing accounting practices. This is not equivalent to cutting emissions, which requires removal of fossil fuels, not merely their supplementation with other activities.
Secondly, we question the timing of a ten-year plan given the urgent need to cut emissions for the sake of our lives, health and communities.
We encourage the NTEU and Public Service Association (PSA) to pass member motions calling for immediate withdrawal from all fossil fuel investments. Existing motions allow for delays and offsets.