20 June 2018
Commenting on Senator Abetz’s statement that he “will always put Australian pensioners before the aspirational ideals of the Paris Agreement”, Daniel Gocher, Director of Climate & Environment, Australasian Centre for Corporate Responsibility said:
“Climate change poses an existential threat to long-term investors, particularly our superannuation funds, which aim to maximise the retirement savings of all Australians. The vast majority of investors agree that temperature increases beyond 2C of warming, would have catastrophic impacts on investment portfolios.
“Senator Abetz’s comments and his colleagues in the government who continue to cast doubt over the merits of remaining in the Paris Agreement, are putting at risk the retirement savings of all Australians.
“We are at a critical moment in the national debate on climate and energy policy in which investors can play a key role. Our largest energy users including BHP Billiton, BlueScope Steel and Tomago Aluminium (a Rio Tinto joint venture), have been consulted on the details of the National Energy Guarantee. Investors in these companies must ensure that they play a positive role in negotiations, to ensure that Australia meets its commitments under the Paris Agreement.”