Australian Super Funds Under Fire Over Links to War Crimes in Gaza
What’s really happening behind closed doors with Australian superannuation funds and their potential exposure to war crimes? The controversy deepens as Australian Super, ASFA, and ACSI face intense scrutiny over alleged investments in Israeli companies profiting from actions in Gaza — companies accused of benefitting from what’s been called “plausible genocide.”
Australians’ Retirement Funds May Be Supporting Military Activity
While millions of Australians trust their superannuation funds to be responsibly invested, the uncomfortable truth is emerging: some of that money might be indirectly supporting war activities. Yet, industry leaders are dodging questions. Transparency and accountability seem to be missing from the conversation.
ICJ Proceedings and the Companies in Question
Israel currently faces trial at the International Court of Justice (ICJ) for what has been described as “plausible genocide.” Meanwhile, top Australian super funds have financial interests in Israeli companies allegedly profiting from the ongoing violence. These include the weapons manufacturer Elbit Systems and white phosphorus supplier ICL.
Silence From Industry Bodies Raises Questions
Despite strict investment policies and adherence to international law, including the United Nations Guiding Principles (UNGP) and the Geneva Conventions, these super funds have been reluctant to explain how these investments align with their stated values. When asked about legal advice, they offered none.
ASFA – The Association of Superannuation Funds of Australia – calls itself the “voice of super.” Yet, its chairman, Dr Don Russell, was unavailable for comment. A spokesperson claimed there was no official stance on the matter and redirected inquiries to ACSI.
ACSI Avoids Accountability on ESG Failures
ACSI, the Australian Council of Superannuation Investors, also deflected responsibility, saying, “I’m afraid this isn’t our department either.” But the question remains: Whose department is it when Australian retirement money may be linked to modern-day genocide?
According to their own mission, ACSI exists to “provide a strong voice on financially material environmental, social and governance (ESG) issues.” But when it comes to genocide — arguably the most extreme ESG violation — they go silent.
Weapons Testing and the Ethical Void in Investment
Meanwhile, Gaza has been described as a weapons lab, and some super funds are reportedly invested right in its machinery.
ASFA claims to “unite the superannuation community,” helping Australians enjoy “a dignified retirement.” But many Australians might ask: Can any retirement truly be dignified if built on the suffering of others?
Your Right to Know and Demand Divestment
If you’re a superannuation member, you have the right to question where your money is invested. You can — and should — contact your super fund and demand clarity. Ask whether your savings are tied to weapons companies or firms involved in alleged war crimes. And if they are, request that your fund divest.
Retail Funds and the Global Exposure Problem
Even those in retail super funds (non-industry funds) may be exposed, particularly if their portfolios track certain international indices. The issue isn’t limited to just a few funds — it’s likely widespread.
The Public Demands Ethical Accountability
While ASFA and ACSI attempt to avoid accountability, Australians are waking up. There’s a growing demand for transparency and ethical investment. Genocide is not a grey area. It’s time the super industry stopped treating it as such.
