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Thank US voters: Australian pension funds are backing away from climate pledges too

Net Zero Dreams in ruins.

By Jo Nova

We’ve reached the flipping point downunder

The money is leaving the room. Australian pension funds manage assets of around $4.1 trillion, and until last week, many of them had Net Zero Targets. Certainly, there were none that tried to appeal to climate skeptics even though 70% of Australians didn’t want to even spend $1 a week on “Net Zero” plans.

This week, many of them are backing away slowly, speaking about a corporate and political backlash, like it’s a force of nature.

They won’t say the subsidies have dried up, they made the wrong bet, wasted billions of your dollars and hope they don’t get sued for a lack of fiduciary duty. They won’t say that pension funds are supposed to make money for their clients, not change rainfall patterns.

Last year, they were saying “Climate change poses a grave risk to the health, wellbeing and finances of all Australians, including retirees”. Three years ago the The Association of Superannuation Funds of Australia (ASFA) was campaigning for national net-zero policies saying “, the superannuation industry stands to lose billions of dollars in investment returns on behalf of their members,”. Pension […]

January 30th, 2025 | Tags: , | Category: Global Warming | Print This Post Print This Post | |

Foreign investment bankers *Really* want Australia to meet Net Zero Targets

By Jo Nova

Shh! The Monster Banker Funds are secretly saving the World

By sheer coincidence the same day the Australian Treasurer said we’d have to pump up the subsidies on climate targets, a group of largely foreign bankers called for the Australian government to “hurry up with emissions reduction plans “.

The foreign investment bankers market themselves as “Australian and New Zealand investors” but boast they have $30 trillion in assets, which is a bit of a red flag when the GDP of both nations together is $2 trillion USD. It turns out the blandly named Investor Group on Climate Change (IGCC) is only 10% Australasian:

IGCC represents investors with total funds under management of more than $3 trillion in Australia and New Zealand and $30 trillion around the world. Investors welcome the development of internationally aligned climate risk disclosure requirements in Australia. —IGCC Submission to the Australian Treasury Feb 2023

But being 90% foreign doesn’t stop them putting in submissions to Parliament or pretending to be locals. Even The Australian thinks they are Australian:

An Australian investor group representing members with more than $30 trillion in assets says plans being developed by the […]

November 4th, 2023 | Tags: , , | Category: Australia, Bankers, Global Warming | Print This Post Print This Post | |

Giant Australian retirement funds are being corporate Climate Bullies with your money

By Jo Nova

Unguarded Big-Money works like acid against democracy

Just like everywhere in the West, the money Australian’s earn may be quietly used against them to push policies they don’t want. The Australian Retirement Trust (ART) and HESTA are using their voting rights on corporate boards to push for climate action and gender diversity. They aren’t polling their members to find out if this is what they want. They are just following The BlackRock and GFANZ banker cartel modus operandi. It is coercion, done with the illusion of “good intentions”, but in reality, aggressively self-serving behaviour. The management of HESTA and ART couldn’t care less what the owners of the money want.

ART is a $260 billion fund (Australia’s second largest) with 2.2 million members. HESTA is a $76 billion fund with nearly 1 million members who are mostly working in health and community service. Just as with the US Funds, there surely is a question of fiduciary duty. Are these funds maximizing the return for investors or are they using their money to achieve political ends that result in lower income for retirees? Environmental investors lost 22% last year when energy investors made 54%.

So for directors […]

September 25th, 2023 | Tags: , , , , | Category: Global Warming | Print This Post Print This Post | |

A culture of climate bullies may be using your retirement funds against you

Who voted for Superannuation funds to decide energy policy?

And you thought we elected a government to manage our National energy policy?

Businesses must adopt Paris emissions targets even if the government fails to do so, big investors say.

The Guardian

So even if voters don’t want “climate action”, by default, it’s sneaking in the back door, unless they pay attention.

The “big investors” in this case being a small team of activists running a club that some Superannuation corporates have joined, though it’s not clear why. Perhaps they joined to “look Woke” or perhaps they are feeding the crocodile for fear of being targeted?

The Australian Council of Superannuation Investors (ACSI) is not trying to persuade funds or investors to go Green with reason, instead they seem to operate by Cancel Culture principles on a corporate scale. Their aim, apparently, is to bully Directors of your Superfund into themselves bullying the companies they invest in. In a Saul Alinsky fashion they effectively threaten Directors that they might be personally isolated and targeted if they are not seen to be supportive enough of the Woke religion (ie, climate, slavery, femo-glass-ceiling stuff). Somehow ACSI may “recommend members […]

April 27th, 2021 | Tags: , , , | Category: AGW socio-political, Australia, Bankers, Global Warming, Politics | Print This Post Print This Post | |

Worlds “Largest Shadow Bank” wants Australia to shut coal plants faster

Because Big Bankers really want to save the Earth, right?

BlackRock, the 10 trillion dollar “global investment fund” is urging the Australian company AGL to shut Bayswater and Loy B Yang Coal Plants much sooner than planned. BlackRock is a NY based and as wikipedia says “Due to its power, and the sheer size and scope of its financial assets and activities, BlackRock has been called the world’s largest shadow bank.”

The move only got 20% support from investors. Australian investors largely said “no thanks”. Where are The Greens in exposing multinational powers that want to influence Australia — they’re part of the Big Banker Promotion Team.

BlackRock turns up the heat on AGL’s coal exit plans

Nick Toscano, Sydney Morning Herald

AGL faced an investor revolt on Wednesday, as more than 20 per cent of the company’s shareholders backed a resolution for the board to align the retirement of the Loy Yang A power plant in Victoria and its Bayswater station in New South Wales with a strategy to limit global warming to 1.5 degrees.

This would mean shutting Loy Yang A, the largest brown coal fired power plant in Victoria, […]

October 9th, 2020 | Tags: , , , , , | Category: Australia, Bankers, Economics, Global Warming | Print This Post Print This Post | |