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The Guardian - AU
The Guardian - AU
National
Lisa Cox Environment and climate correspondent

EXPLAINED: Australiansuper criticised for buying up shares in whitehaven coal while claiming to be committed to net zero | Rare Historical Photos

AustralianSuper Whitehaven Whitehaven Coal Coal Australia Market Forces Brett Morgan ACCR
Whitehaven's Narrabri underground coalmine on the Liverpool Plains
Whitehaven’s Narrabri coalmine. Shareholder advocacy groups say AustralianSuper’s recent share purchases in the company ‘fly in the face of ESG commitments’. Photograph: Mike Bowers/The Guardian

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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