Climate activist-backed lawmakers defend gas and oil company stocks

An Australian MP backed by a major climate activist group has confirmed it owns stakes in oil and gas producers, refiners and toll road operators.

Fossil fuel stocks remain strong amidst the Russo-Ukrainian war, according to reports, so “Teal” independent MP Kailea Tink said in a letter of interest filed with Congress that she would buy Beach Energy. , Viva Energy Group, and Transurban Group.News Corporation

According to the company, Beach Energy Ltd has A$765 million in liquidity, produces gas and oil from five basins across Australia and is a major supplier to the Australian East Coast market. 2022 Annual Report.

Viva Energy Group Limited is website Oil suppliers and distributors supply around a quarter of all Australia’s fuel products, have an extensive network of around 1,300 service stations across the country and generate A$5.76 billion in revenue.

Meanwhile, the Transurban Group, one of the world’s largest toll road operators with revenues of A$2.16 billion, builds and operates toll roads in Australia, the United States and Canada.

Tink, who is backed by lobby group Climate 200, called for stronger emissions targets in a recent speech to parliament to support Prime Minister Anthony Albanese’s climate bill.

A Commonwealth Member of North Sydney said Australia “needs a clear and workable plan to reduce national emissions, under the guidance of experts, to achieve at least 60%”. rice field. [reductions] By 2030”

“This is a crucial decade for climate action.”

“The decisions we make over the next three years will fundamentally affect our children and their futures.

Tink was participating in shareholder activism

and media release On Monday, Tink called the decision to take stakes in oil and gas companies and toll road operators part of “shareholder activism.”

“I was thinking about how to bring about change in the whole environmental space,” she writes.

“Shareholder activism has bought small stakes in many companies that they felt could better understand the entities involved and apply pressure from within to push for reform.”

“A small dividend I have received in the last 12 months has been donated to renewable energy campaigns and emissions offsets.”

but, North Sydney MPs have yet to disclose their holdings in renewable energy companies.

Tink is not the first Climate 200-backed candidate to reveal financial ties to fossil fuel companies.

February 2022, Independent Member of Parliament Zari Stegal He defended a donation of A$100,000 from the family of coal billionaire John Kinghorn.

A few Climate 200-funded candidates who have won seats include Allegra Spender, Monique Ryan and Zoe Daniel.Activist group founded by businessman and climate philanthropist Homes a Courtthe son of Australia’s first billionaire.

Nina Nguyen


Nina Nguyen is a reporter based in Sydney. She covers Australian news with a focus on social, cultural and identity issues. She is fluent in Vietnamese. Please contact her at [email protected]