You have to love the ESG complex’s shifting sands, don’t you? Take AustralianSuper and its expanding economic interest in Queensland coal producer Whitehaven. News broke last month that AusSuper had returned as a major shareholder.
Since then, the country’s largest superannuation fund, led by CEO Paul Schroder, has kept buying. Its latest disclosure shows that between May 14 and 23, AusSuper snapped up 9,230,756 shares in Whitehaven. It now owns 6.17 per cent of the company, worth $298 million.
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
