A big transition is under way in Australia’s biggest export industry, but the divestment trend could perversely expedite development of the nation’s fossil fuels.
As blue chips exit, other companies still hold a torch for fossil fuels. Bloomberg
It might be remembered as the year that some of Australia’s oldest blue chips ended their long and lucrative marriage with fossil fuels.
Less than two months after the 184-year-old AGL Energy vowed to divide itself along carbon lines, the 136-year-old BHP revealed that existing efforts to exit thermal coal would be complemented by a wholesale exit of oil and gas.
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Original URL: https://www.afr.com/policy/energy-and-climate/the-great-transition-turns-blue-chips-into-green-chips-20210820-p58kdd
