Two former ACT Greens candidates have reunited to launch Australia's first 100 per cent fossil fuel free superannuation fund this week. Future Super was created by former ACT Greens senate candidate and GetUp leader Simon Sheikh and his fellow former Greens candidate Adam Verwey, who challenged sitting MP Andrew Leigh in the 2013 election. They said it would be Australia's first fossil fuel free superannuation fund and also wouldn't invest in gambling, tobacco, alcohol and logging of old-growth plantations. The two founders will run the fund with the assistance of former JP Morgan investment banker Jemma Morton-Green and Australian ethical investment pioneer James Thier. Mr Sheikh said there had been an increase in ethical, fossil-free funds across the world including in Britain and the United States, while funds which have recently turned towards ethical investments had seen an uptake in customer numbers. He said more than 100 people had already joined Future Super even before it had officially launched. "Obviously that's just people who have found the website, but we expect that to grow over coming days and weeks," he said. Mr Sheikh has a long history working for organisations which favour environmental protection, including a five-year term as national director at activist group GetUp and standing against Liberal senator Zed Seselja as a Greens candidate in the 2013 Federal election. He said choosing to invest your superannuation in green industries rather than fossil fuels, such as coal, oil and coal-seam gas, wasn't only ethical, it was also financially sensible. "We've seen the head of the IMF, the head of the World Bank and the head of the OECD all warn about the fact that fossil fuels add more risk than reward to a portfolio," he said. "That's because we're seeing a huge transition towards other forms of energy ... I've moved my own superannuation into Future Super." Mr Verwey said a number of Australian superannuation funds claimed to invest in ethical or sustainable organisations, but often were 'green washing' their customers. He said there was a desire among individuals and companies to have an ethical option when it came to investing their superannuation. "[In my previous job] most of my role was working with individuals, not-for-profit groups and financial advisors and [working out] how to align their values with what their money was doing," he said. "There wasn't a super fund out there that wasn't investing in fossil fuels, which was a key value a lot of people had talked about in the investment movement," Some of the financial contributors to the new superannuation fund listed on their website include regular ACT Greens donor Michael Cebon and former MLA Caroline le Couteur. Future Super will be officially launched on Thursday.