Radical idea here guys, bear with me. Climate change is bad. Supporting the fossil fuel industry, the main reason why we have climate change is also bad. Because climate change is bad, it would be inconceivable to have a government agency supporting the fossil fuel industry. Right? Right?
The ACC has 1 billion invested in the fossil fuel industry. For the record, that’s 1/40th of its entire investments. Yet the fund only has 778 million invested in Green energy. But in any case, the number of dollars going into the fossil fuel industry should be zero.
The ACC, by law, has to invest ethically, so it’s pretty disappointing to see it invest in the fossil fuel industry – the industry which is literally choking the planet. In my opinion, that’s not an ethical industry.
The good news is that Green MP Chlöe Swarbrick has called ACC out on this issue. The bad news is that Finance Minister Grant Robertson has refused to use the Crown Entities Act to make the ACC divest from fossil fuels.
Jacinda Ardern said that climate change was her generations “nuclear-free moment.” Yet her government won’t even stop paying those responsible for climate change.