Australian-listed companies face first fund manager climate resolutions

New Climate Advocacy Fund to corral Super funds on climate disclosure

Australian companies face their first resolutions on climate change policy disclosure from a fund manager via a joint venture between Australian Ethical Investment and The Climate Institute. Australian-listed Woodside Petroleum, Aquila Resources, Paladin Energy, and Oil Search are the first companies targeted by the new Climate Advocacy Fund, which was launched in July.
The fund manager is requesting that the companies disclose their carbon emissions and reduction strategies as well as long-term investment assumptions around future carbon prices. The resolutions are supported by The Climate Institute, an independent organization that works with business, community and government on climate change issues.
Julian Poulter, business director at The ClimateInstitute, said: “This is an ideal opportunity for all those funds who are signatories to the Carbon Disclosure Project and the UN PRI to exercise their influence and support the resolutions.” James Thier, executive director of Australian Ethical Investment, said: “The aim of Australia’s first climate change resolutions is to protect long-term investor returns by putting the spotlight firmly on the gaps in knowledge and preparedness of companies to manage the long-term risk of climate change.” Separately, the Green Party in the Australian Capital Territories (ACT) has lodged a draft bill that aims to stop the ACT Government investing in companies that manufacture or sell liquor, tobacco, armaments, gambling machines, genetically modified crops, crude oil, coal or products linked to intensive animal farming.