Australia’s largest superannuation fund, Australian Super, voted against all climate resolutions filed at domestic companies in 2019, including the climate lobbying proposal filed at mining giant BHP by fellow Climate Action 100+ supporters.
Melbourne-based AustralianSuper manages over A$180bn (€111bn) in assets on behalf of more than 2.1m members, or one in 10 working Australians.
Globally the fund supported 42% of climate change proposals. But in Australia it voted against all 16 resolutions on the issue across 10 different companies it owns.
Three of those firms – Origin Energy and miners BHP and Rio Tinto – are targets of Climate Action 100+ (CA100+), the investor engagement initiative that is attempting to steer the world’s dirtiest companies towards Paris aligned trajectories.
The other Australian firms owned by the fund to face climate resolutions this year were: energy company AGL; insurers IAG, QBE and Suncorp; and banks Westpac, …