Australian Retirement Trust, which manages $183 billion (AUS$280 billion) of retirement savings, is placing thermal coal on its exclusion list as of July 1, as it looks to have a net-zero emissions portfolio by 2050. Thermal coal includes the mining of lignite, bituminous, anthracite, and steam coal and its sale to external parties, the second-largest Australian pension fund said in updates to its product offering. The fund will be screening its investments and exclude direct investments in coal companies that have 10% of revenue from…
