Environmental advocacy group Market Forces analysed the direct investments made by Australia's 30 largest superannuation funds since January 2020. It found $99 billion had been invested in 514 renewable energy projects, with the country's top 30 funds contributing $771 million, or 0.8 per cent.

The analysis found that Canadian pension funds have contributed more to Australian renewable energy projects, at $1.2 billion.

Last year, the group also revealed that Australia's top super funds invested more than three times as much in companies with global fossil fuel expansion plans than backing clean energy companies.

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