One of the world’s largest sovereign wealth funds, the Norwegian Pension
Fund, is likely to completely divest from coal. It’s not uncommon to
find Norges in the list of top ten investors in many of the companies groups like ours are campaigning against.
The Norwegian Pension Fund invests in the following Australian coal
companies: Bathurst Resources, Beach Energy, BHP, Coal of Africa,
Coalspur, Cockatoo Coal, Cokal, Downer EDI, New Hope, Newcrest, White
Energy, Whitehaven Coal and Yancoal. (as well as some multinational
mining companies like Idemitsu).
They also invest in the following oil and gas companies: AGL, Dart
Energy, Incitec Pivot, Santos and Woodside Petroleum.
Today we also heard that BHP Billiton is pulling back from their Abbott Point project and ordinary people are continuing to move their funds from banks investing in these massive and polluting projects.
We hope more companies, investment firms and individuals wake up to the many poor examples of social and environmental irresponsibility being enacted all over Queensland, including by New Hope at Acland.