Ethical super funds with Fossil Fuel investments (www.abc.net.au)

submitted 9 months ago by [email protected] to c/[email protected]

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[-] [email protected] 3 points 9 months ago

For example, NGS Super’s policy excludes investment in companies that make more than 30 per cent of their revenue from thermal coal mining.

As a result, BHP is not excluded because the $US3.5 billion it earned mining thermal coal last financial year only accounted for 6.6 per cent of its total revenue.

I can see a case being made for allowing >0, even if I don't really like it myself.

But 30% is ridiculous. It should be more like 10%, with an additional stipulation on maximum total, so a giant company like BHP which produces billions doesn't get away with it just because they also do a bunch of other stuff.

this post was submitted on 14 Dec 2023

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