| Australia’s sovereign wealth fund, the Future Fund, has “missed out” on US$1.5 billion (AU$2.2 billion) over the past three years by not divesting from carbon-exposed companies. According to the Clean Capitalist Decarbonizer tool, launched by Corporate Knights, together with 350.org using carbon data from the South Pole Group, the fund could have grown its revenue by US$1.5 billion by divesting from carbon-intensive companies and investing in companies that provide “environmental solutions”.
The finding was reached after Corporate Knights analysed the most-recently disclosed holdings of the Future Fund (as well as 13 other prominent funds, including the Australian National University), and estimated the potential financial impact of shifting their investments from “the world’s largest fossil fuel companies” (and utilities that rely on coal for more than 30 per cent of their electricity generation), to companies that derive at least 20 per cent of their revenues from environmental markets of new energy...............................................Full Article: Source
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