News Formal

'Climate wreckers': Super funds' investment in fossil fuels doubles

  • 📰 SBSNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 89%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Australian super funds are expanding instead of shrinking their investment in fossil fuels, despite boasting of their zero emissions targets, new research shows.

Australian superannuation funds have doubled their investment in fossil fuels over the last two years, new data shows. More than $39 billion has been invested in the global expansion of gas, coal and oil by Australia's top 30 super funds at the end of 2023, according to Tuesday's report by shareholder organisation Market Forces.

For the first time, researchers identified each fund's share of emissions from the fossil fuel expansion plans of index members and pointed out three companies as the biggest polluters. Woodside Energy, gas giant Santos and Whitehaven Coal were found to be responsible for more than half of index companies' projected emissions attributable to expansion plans.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Australian super funds double investment in fossil fuel companies, report findsAustralia's largest superannuation funds have doubled their investments in high-emitting companies over the past two years, according to environmental finance group Market Forces.
Källa: abcnews - 🏆 5. / 83 Läs mer »

Methane emissions: Australian cattle industry suggests shift from net zero target to ‘climate neutral’ approachThe US cattle industry adopted a ‘climate neutral’ goal in 2021, but scientists say that ‘misses the point’ in keeping global temperature rises below 1.5C
Källa: GuardianAus - 🏆 1. / 98 Läs mer »