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HESTA removes Origin from watchlist after environmental improvements
HESTA has removed energy company Origin from its watchlist of stocks after the company made improvements to its climate strategy.
Improvements included divesting interests in the Beetaloo Basin and its intention to exit upstream exploration permits and articulating a climate strategy consistent with a 1.5oC pathway.
HESTA said: “We believe Origin has articulated a climate strategy consistent with a 1.5oC pathway and that their change in strategic direction will better support their ambitions to lead the energy transition through cleaner energy and customer solutions.”
However, the super fund said there were still areas of improvement for the firm’s Climate Transition Action Plan.
“It’s our view that Origin could play a more active role in supporting a just transition for affected communities. We also ask Origin to consider how it can leverage its membership of industry associations to advocate for greater alignment with their climate strategy and commitment with a 1.5°C pathway.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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