Aware Super (formerly FSS and VicSuper) has developed a Climate Change Portfolio Transition Plan within which it will transition it's investment portfolio to have a stronger alignment with a low-carbon economy.
As a first step, Aware Super is divesting away from businesses that derive "more than 10 per cent of their revenue from thermal coal" by October 2020.
Additional commitments in the Plan include:
- Minimum 30% reduction in emissions in listed equities portfolio by 2023;
- Targets for investments in renewable energy and new technologies;
- Engagement with companies on their individual emission reduction plans and targets, and
- Advocating for economy-wide greenhouse gas reductions.
Aware Super's investments in renewables and new technologies, include:
- One of the largest wind farms in Australia 'Snowtown 2', in the Barunga and Hummocks Ranges in South Australia, with 180 wind-turbines generating enough electricity for 140,000 households;
- Large scale renewable energy projects with 'PowAR' including solar power plants in NSW's Broken Hill and Nyngan, and wind farms in Queensland's Silverton and Coopers Gap. PowAR's existing wind and solar farms will deliver enough electricity to power 465,000 households; and
- Brazilian developer and operator of power assets DSEF which invests in renewable solar, wind and hydro assets in Latin America.
- Aware Super Media Release 16 September 2020: Time to grasp the opportunities to shift the dial on climate change.