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

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.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: abcnews - 🏆 5. / 83 Read more »

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
Source: GuardianAus - 🏆 1. / 98 Read more »