Book meeting with UNO Broker

How ethical is your home loan provider?

Is the Coq au Vin pasture-raised? Just as the ethical food movement drastically changed the way we dine at restaurants, a financial startup is challenging the way Australians think about their super fund.

Just as the ethical food movement drastically changed the way we dine at restaurants (“was the Coq au Vin pasture-raised?”) and the backlash against fast fashion has impacted the way many of us buy clothing, a financial startup is challenging the way Australians think about their super fund.

Future Super, launched in 2014, is Australia’s first 100% fossil-free super fund.

Australians collectively have more than $2.5 trillion in super and research shows more than 50% could be exposed to polluting companies, whereas only 2% goes towards climate solutions such as renewable energy. (Environmentally-focused company MarketForces, has created tables comparing the fossil fuel exposure of banks. Consumers can view the banks that are contributing to fossil fuel exposure, as well as those that aren’t.)

Future Super is also an organisation that, unlike some banks and mutual funds, does not invest in gambling, tobacco or weaponry.

“We empower everyday people to invest in a better, more sustainable future,” says head of engagement Michael Bones. “The first step is identifying and excluding companies whose products addict (e.g. gambling and tobacco), pollute (e.g. fossil fuels) and kill (e.g. live animal exports, weapons manufacturing).”

“We holistically screen out those activities and have a process for identifying companies that also have a positive impact as well.” Future Super recently launched a new investment option with a 20% investment target in renewable energy.

The super thing

With more Australians potentially accessing super to put towards a home deposit in the future – thanks to a new government legislation enabling home buyers to withdraw a maximum of $30,000 of contributions, plus earnings, from July 1 – super is front of mind for many people. Bones says the company has grown quickly: more than 10,000 Australians are investing more than $300 million with Future Super.

The same breakdown in bank resources could be used to help people switch their home loan to a more environmentally conscious bank or lender, says Bones.

“It’s kind of like buying caged eggs versus free range eggs. People don’t like a particular practice and want to use their consumer power for good. The thing about home loans and banks historically is that they haven’t really stacked [being environmentally conscious] on the radar for people. Banks’ highest margin products are loans – do you agree with what they’re doing with the profit they make from you?”

UNO works with a number of lenders that don’t have a record of funding fossil fuels, including Adelaide Bank, CUA (Credit Union Australia) and Suncorp Bank. With increased focus on ethical investing, it’s likely there’ll be more added to the list in the future.

“People are starting to want to look under the hood of what’s being done,” says Bones. After all, your home is an investment and the way you’re funding it is important. “Where did my return come from? Did it come from a poker machine company? Am I taking money from the pocket of a poor person? Or am I building a solar farm and building clean energy through my super?” he says. “People are starting to make that connection.”

Find a deal



5 stars for our service reviews from clients

Book Call Now

UNO home loans

Try Plans, by UNO
Mortgage calculators completely reimagined
Get Started
Considering a purchase or refinance?

Try Plans by UNO

Mortgage calculators completely reimagined
Get Started
☎ đŸš« No cold call promise

Related Articles

TESTIMONIALS

What our customers are saying

Mark
January 10, 2025
5 stars for our service reviews from clients
We were recently approved for finance with Scott Wilkinson at UNO Home Loams. Scott was friendly and professional the whole way through the process and obtained the finance for us when many others had said they wouldn’t be able to. Thanks to Scott we were able to get everything done and settled in quite a short amount of time considering the complexity of the deal. We knew where we stood the whole way and no details were hidden or forgotten . Thanks Scott you are highly recommended by myself and my Wife.
Read more
Lise Ioane
December 30, 2024
5 stars for our service reviews from clients
Paul Davey and the team were amazing! As Kiwi's who have moved to Australia I wanted to use someone back home or who had experience with helping FHB in Australia. Paul answered all of our questions in a timely manner and helped us to secure the home loan and move into our new home. We had a few meetings with Paul and he did all the the work so us, we just filled in the required paperwork and he and the team did the rest. We dealt with Dalby for the last part of the process and he was also amazing! Highly recommend Paul and the team! Thanks Paul, Dalby and the team and UNO Home Loans.
Read more
Neil Venkataramiah
December 20, 2024
5 stars for our service reviews from clients
Mike Parsons: Working with Mike was amazing. My wife and I were a couple from Sydney that had a 7 year stint overseas. On moving back, our loan had gone from Interest Only to Principal and Interest. The challenge: to get 2 recently re-patriated Aussies on an Interest Only loan. With only 1 year of Oz financials. And with income from an overseas company. We had equity in our property, but the ability to service was the issue. A very tough brief. Step in Mike. He contacted all his lenders, knowing that this was a unique situation. He never let up and followed through with calls and whatsapps at every stage of the process. We simply could not have got our Interest Only loan if it wasn’t for Mike. I highly recommend Mike for any loan or re-finance that you’re looking at. His attention to detail and ability to find creative solutions is second to none. And most importantly - he's a good guy that will guide you through the whole process in what can be a stressful time. Steph and Neil
Read more
Philip Smith
December 20, 2024
5 stars for our service reviews from clients
Mike Parsons provided my wife and I outstanding service for our home loan. I have never dealt with someone who is so helpful and goes the extra mile and provides such excellent service the way Mike did. Highly recommend Mike as your broker for all investment/home loans you won’t be disappointed.
Read more
1
2
3