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Australian Ethical and Market Forces are sponsoring the latest motion, which asks whether all fossil fuel companies will be required to have transition plans in place next year and how Westpac will assess such plans as being credible, including not putting too much reliance on emissions offsets or carbon, capture and storage technology.
“The bank got a clear message last year that investors are keen to know more about these plans – but this was not provided,” said Alison George, Australian Ethical head of impact and ethics.
“That is not good enough. We are not asking for commercially sensitive information. We know this is a challenging area, and that is why we are asking these questions. But we need to think about oil and gas, and what can be aligned with Paris and what cannot.”
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Read the full article below:
Calls grow for Westpac to reveal energy transition plan thinking- The Australian Financial Review
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