Massive US fund backs climate change at Australian energy company

Massive US fund backs climate change at Australian energy company, by Cole Latimer.

One of the world’s largest pension funds will vote with activists against Origin‘s board over the company’s approach to climate change risk disclosure at its looming annual meeting.

The California Public Employees Retirement System (CalPERS), a US-based pension fund that has $US340 billion ($431 billion) in assets under management, has announced plans to vote against Origin’s board and support three climate change-related resolutions at the company’s meeting on Wednesday. …

Origin has wholeheartedly rejected the proposed resolutions, stating they are not supported by the board, and intend to use undirected proxies to vote against the resolution. …

CalPERS has been pushing its own climate agenda, Climate100, which is a global initiative to put financial and ethical pressure on 100 of the world’s largest carbon emitters.

Anyone done any due diligence? We have, but the world’s governments didn’t. Hmmm. Book soon.

hat-tip Chris