ASIC v Mercer Superannuation (greenwashing)
civil penalty2 Aug 2024Penalty $11.30M
Respondent
Mercer Superannuation (Australia) Limited
Facts
Mercer represented certain superannuation investment options as excluding investments in companies involved in fossil fuels, alcohol production and gambling, when in fact those exclusions were not implemented.
Outcome
Federal Court imposed an $11.3 million civil penalty — Australia's first greenwashing judgment against a superannuation fund.
Read the source
https://asic.gov.au/about-asic/news-centre/find-a-media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.