ASIC v. Active Super

In June 2024, the Australian Securities and Investments Commission (ASIC) filed a claim with The Federal Court to impose a $10.5 million fine on Active Super regarding securities fraud on its environmental, social and governance (ESG) investment schemes. Active Super claimed that it eliminated investments that posed a risk to the environment such as coal mining and oil tar sands. However, ASIC claimed that Active Super still maintained direct investments in companies like Shell Plc and Whitehaven Coal. In March 2025, the Federal Court of Australia sided with ASIC, determining that Active Super failed to acknowledge its emissions heavy investments within its green marketing.