An ABC investigation into the financial disclosures of sustainable or ethical-labelled super options finds extensive investment in shares of companies in the fossil fuel, gambling, alcohol and weapons manufacturing industries.
The ABC cross checked its findings against a second list of companies, supplied by financial data and analysis company Morningstar.
This list was made up of public companies that reported generating revenue from oil and gas, as well as coal production and exploration. Unlike the data from Bloomberg, this also included companies that earn revenue from fossil fuel power generation.
It also captures investment companies and other financial institutions that have holdings in companies that produce fossil fuels.
This method identified more than $2 billion invested in publicly listed companies generating revenue from fossil fuels.
Australian Ethical are listed as having invested $147.4 million in this section.
Hmm it doesn’t show Australian Ethical as having any fossil fuel investments???
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Australian Ethical are listed as having invested $147.4 million in this section.