AustralianSuper criticised for buying up shares in Whitehaven Coal while claiming to be committed to net zero
Super fund, on the brink of becoming Whitehaven's biggest shareholder, says company's acquisition of metallurgical coal assets made it a more attractive investment
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A major Australian superannuation fund is under fire for substantially increasing its investment in the coal company Whitehaven, and being on the brink of becoming its biggest backer, while still claiming to be committed to reaching net zero emissions.
Shareholder advocacy groups said AustralianSuper was moving against the trend of its peers with recent share purchases in the company, which they said were flying in the face of environmental, social and governance (ESG) commitments".
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