Exposure to Climate Wreckers Index (% listed equities)
30 June 2022
31 December 2021
The Climate Wreckers Index is made up of the 180 publicly-listed companies from all over the world with the biggest plans to expand the scale of the fossil fuel industry. Specifically, the list includes:
The top 60 oil and gas producers by expansion plans
The top 60 coal miners by expansion plans and coal reserves
The top 30 companies by new gas power plant development plans
The top 30 companies by new coal power plant development plans
Together, these companies are planning new coal, oil and gas production and power generation projects that could add the equivalent of almost 200 years of Australia’s national annual emissions! Take action and tell your fund to ditch all companies expanding the scale of the fossil fuel industry.
View the methodology for calculating exposure to the Climate Wreckers Index here.
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Coal exclusion policy
Aware Super excludes “…Direct investments in companies that generate 10% or more of their revenues generated directly from mining thermal or energy coal.”
Oil & gas exclusion policy
Aware Super has no policy to formally exclude oil and gas investments, but the fund has adopted low carbon benchmarks for listed equities, which are likley to have resulted in some reduction in exposure to emissions intensive sectors. Actual impact on oil and gas investments is likely to be limited to scope 1 & 2 emisisons, as there is no disclosure to suggest scope 3 emissions are accounted for in these benchmarks. Aware Super’s benchmarks briefly refer to fossil fuel reserves: “…these custom benchmarks exclude, or have a reduced weighting to, the most carbon intensive companies from the respective benchmarks based on emissions and fossil fuel reserves data.” However, there is no further disclosure to determine how reserves are factored in, and therefore no disclosure of the impact on oil and gas investments.
Coal divestment action
Aware Super announced in July 2020 that it was in the process of divesting from companies deriving more than 10% of their revenue from mining thermal coal (including Whitehaven Coal and New Hope), which was completed as of October 2020.
Oil & gas divestment action
Some reduction in exposure as per the fund’s policy commitments.
Climate voting record
Aware Super discloses its proxy voting decisions annually. The fund supported 40% of the climate-related resolutions it has disclosed from 2017 to 2020.
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