'Drive from within': AMP boss weighs into divestment debate

  • Feb 13, 2020
  • Sydney Morning Herald

While many of the super funds said remaining invested allowed them to drive change from within, research obtained by this masthead also showed support for shareholder resolutions that would force companies to take tougher action on climate change had fallen.

AMP remains one of the nation's biggest superannuation fund managers, overseeing around $117 billion in 70 funds.

Mr De Ferrari said the wealth giant made a number of decisions on where to invest clients' money in relation to its environmental, social and governance (ESG) policy, and would divest only if engagement with these companies broke down.

When asked if he thought coal and oil were viable long-term investments, Mr De Ferrari said: "There are a lot of investments out there that one can choose from and so I think there is ample opportunity to invest money in a whole varied range of industries and sectors globally."

Register for access to the Energy news and press releases