The Climate Wreckers Index is made up of the 190 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
The top 10 companies by liquefied natural gas (LNG) import and export terminal development plans
Together, these companies are planning new coal, oil and gas projects that could add the equivalent of almost 230 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.
Mercer has provided Market Forces with a more detailed holdings disclosure which we analysed to arrive at this figure. Our analysis of Mercer's public disclosure shows this investment option has a 12.40% exposure to the Climate Wreckers Index.
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Coal exclusion policy
This option claims to exclude “…companies involved in… carbon intensive fossil fuels like thermal coal.” Mercer also states: “The list of companies excluded varies for each [Sustainable Plus] investment option.” The fund doesn’t appear to disclose any further information about the specific exclusions applied across its Sustainable Plus investment options, but this option does have some investments in a number of coal companies.
Oil & gas exclusion policy
None
Coal divestment action
This option claims to exclude investment in some companies expanding the coal industry. However, it still has some investment exposure to thermal coal mining companies like Whitehaven Coal and New Hope, and coal power generators like TEPCO, Chubu and CLP.
Oil & gas divestment action
None
Climate voting record
Mercer discloses its proxy voting every 6 months. The fund voted FOR 59% of climate change-related resolutions from 2017 to 2020.
The information provided by Market Forces does not constitute financial advice. The information is presented in order to inform people motivated by environmental concerns and take actions based on those concerns. Market Forces is organising data for environmental ends.
The information and actions provided by Market Forces do not account for any individual’s personal objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice.
Market Forces recommends all users obtain their own independent professional advice before making any decision relating to their particular requirements or circumstances. Switching super funds may have unintended financial consequences.
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