Australian govt says superannuation funds should support new coal projects
Australia's superannuation funds should be free to support the coal industry's expansion plans, Resources Minister Keith Pitt said on Tuesday, as a battle heats up over new mines in the key Hunter Valley mining region of New South Wales.
Pitt's comments come as pressure grows on institutional investors to limit funding for new thermal coal mines as part of the global energy transition.
Australia, the world's top coal exporter, is increasingly an outlier for failing to commit to targets aligned with the Paris Agreement on climate change, including committing to net zero carbon emissions by 2050.