Coal investments a turnoff

As many as one in four superannuation holders would be prepared to shift investments if their fund was investing in coal or coal seam gas extraction, according to research commissioned by the Australia Institute, the Sydney Morning Herald reports.

The survey, conducted by Market Forces, found that just 43% of the 1125 respondents would leave their holdings unchanged if their fund made such investments.

The highest opposition to altering investments based on links to coal or coal seam gas was in the top income bracket of those earning more than $150,000, the report found, with 51% against.

Australians hold almost $1 trillion in super - excluding self-funded superannuants - so the willingness of many investors to avoid coal and coal seam gas should be ''a massive wake-up call'' for the industry, Market Forces campaigner Julien Vincent said.

BHP to cut debt in asset sell-off

BHP Billiton has more than 10 assets on the chopping block – believed to include coal interests in Australia, and oil and gas holdings offshore – which would add substantially to the $US4.47 billion raised from the sale of four assets since August, according to The Australian.

The asset sales program is being portrayed as a continuation of its strategy of divesting non-core and underperforming assets rather than a Rio Tinto-like need to reduce debt.

The change in how Australia generates electricity has been illustrated by the share coming from coal falling below three-quarters for the first time – a shift that has helped cut carbon dioxide emissions.

Share of power from coal drops

A monthly survey from consultants Pitt & Sherry has found that black and brown coal-fired power stations supplied 74.8% of national electricity last month. The share from renewable sources such as hydro, wind and solar hit a record 12.5%, according to the Sydney Morning Herald.

Gas, a fossil fuel with less than half the emissions of coal, supplied 12.7%, slightly up on the previous month.