Exclusive: Top super fund dumps coal miners as emissions cuts intensify
Australia's second-largest superannuation fund is preparing to dump its shares in companies that derive more than 10 per cent of their revenue from thermal coal mining as it embarks on the most aggressive immediate climate push of any large local investor.
Although the plan does not specify which thermal coal miners will be divested, corporate records indicate First State held shares in ASX-listed Whitehaven Coal, Stanmore Coal, New Hope and Washington H. Soul Pattinson in 2019. Along with increasing its investment targets for renewable energy, First State said its goals would be achieved first through engaging with boards of heavy-emitting companies about their plans to decarbonise and then through further divestments where necessary.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russian bounties not behind US deaths in Afghanistan, top general saysThe head of US Central Command reviews intelligence indicating Russia possibly pays bounties to Taliban-linked militants but says there is not enough there to make a connection to claims of payments for killings.
Read more »
Alcoa threatens to battle ATO in court over tax bill that could top $1 billionThe ATO claims Alcoa of Australia Limited, which is 60 per cent owned by Alcoa and 40 per cent owned by ASX-listed Alumina, under-priced alumina sales that eventually flowed through to Bahrain.
Read more »
Driver accused of killing police officer and mother makes first court appearanceProsecutors will examine whether Harrison Kitt — who allegedly caused a crash that killed a senior police officer and another Adelaide woman — was having a 'manic episode' at the time, a court hears.
Read more »
Anthony Fauci warns US 'knee-deep' in first coronavirus wave as new infections soarUS health official Anthony Fauci says that the current state of the COVID-19 outbreak in the United States “is really not good” and a “serious situation that we have to address immediately.”
Read more »
ACT records first coronavirus cases in a monthThe ACT has recorded three new cases of coronavirus, which will likely delay the timing of eased restrictions as planned later this week.
Read more »
Alex 'Chumpy' Pullin led a life from the foot of Mt Buller to the top of the worldAlex 'Chumpy' Pullin fell in love with snowboarding at a young age, honing his craft through an illustrious career that took him to three Winter Olympics and earned him two World Championship gold medals.
Read more »