Australian industry super fund HESTA has become the first - TopicsExpress

Australian industry super fund HESTA has become the first established fund in Australia to announce that it is restricting investments in thermal coal. The fund announced the move on Friday, following a meeting of its board. The restrictions will apply across its $29 billion portfolio, rather than just a few “responsible fund” products, which has been the case for other funds. 1coalThe announcement came in the same week that Simon Sheikh announced the creation of a new fund that will focus on fossil free investments – a move that many analysts said would have a big impact on the industry and its investment patterns. reneweconomy.au/2014/29bn-australian-super-fund-to-quit-thermal-coal-investments-76172

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