An ABC investigation into the financial disclosures of sustainable or ethical-labelled super options finds extensive investment in shares of companies in the fossil fuel, gambling, alcohol and weapons manufacturing industries.
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.
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.