New reports from an Australian group representing funds that manage more than $900 billion warn oil and gas reserves might have to remain unexploited and urge investors to seek climate change risk assessments from owners of large mines.
The limited support from super funds for renewables and their strong backing for fossil fuel companies suggests they are putting their money on vested interests prevailing over social leadership, according to one of Australia's leading super fund executives.
Former Liberal leader John Hewson and ex-ACTU president Sharan Burrows are among those behind a new global campaign that says super funds are largely 'dodgers, stallers, tricksters and pleasers' on climate change, with Hewson accusing funds of hypocrisy for backing corporate transparency through the Carbon Disclosure Project but evading scrutiny of their own actions.
Australia could be almost totally reliant on zero emissions energy by 2050, or even earlier, if it rejigs and expands the Renewable Energy Target and develops a national transport electrification policy, according to a study by WWF and Climate Risk.
Modelling shows the Gillard Government's proposed power station CO2 emission standard could imperil efforts to cut emissions unless they are tightened, according to WWF and the Climate Institute, but the ESAA says standards represent an "unnecessary market intervention".
Westpac will 'avoid' transactions that support greenhouse-gas intensive power plants and is 'speaking out' on sustainable business practices, but has fallen short of meeting this year's target for cutting its own greenhouse gas emissions, today's sustainability report reveals.
What to look for in web-based carbon accounting tools; Greenpeace tallies coal investments by big four banks; and U.S. provides half a million in funding for Global CCS Institute.
Generating 1,500MW of electricity from wave power by 2020 would create about 3,200 jobs and create enough power for 1.2 million households, but developing the industry might require changes to the renewable energy target scheme, says a WWF report released today.