Ethical superannuation fund Australian Ethical’s zero-fossil fuel strategy is based on a belief that no fossil fuel companies have an appropriate decarbonisation strategy, but activist shareholder Mike Cannon-Brookes’ battle with AGL could change that.

The Atlassian co-founder and Financial Review Rich Lister has posed challenges for Australia’s largest polluter since scuppering AGL’s controversial demerger plans in May. He is now rallying shareholders to vote to expand the AGL board at its annual general meeting on November 15.