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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments, Fund Management/Administration

Peter Costello says Future Fund won’t join fossil fuel divestment

Posted on 02 September 2015

Future Fund chairman Peter Costello strongly backed fossil fuel miners and said the $117 billion sovereign wealth fund will not join the global fossil fuel divestment push. Announcing a 15.4 per cent return on the fund’s $100 billion-plus portfolio, Mr Costello said the fund would continue to be a big holder in mining giants BHP Billiton and Rio Tinto and the banks that fund them.
“Unless parliament passes a law so that we are in breach of statute, we’ll continue to invest in companies where there is an investment case, whether they are banks or fossil fuel companies or banks lending to fossil fuel companies,” Mr Costello said………………………………………..Full Article: Source


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