Sydney Ideas

Stranded Down Under: Are fossil fuels bankrupting our nation both financially and ecologically? Numerous industrialised nations are taking to reduce their emissions and shift the world's energy system from fossil fuels to renewable energy. Yet Australia is set to invest over AUD 100 billion in new coal mining developments over the next 15 years. Who is footing the bill for these projects in Australia? All Australians are, through compulsory superannuation schemes that invest in the expansion of the fossil fuel industry. Ben Caldecott, founder of Oxford University’s Stranded Assets Programme and author of the recent report Stranded Down Under? Environment related factors changing China’s demand for coal and what this means for Australian coal assets, sheds light on the ramifications of Australia’s fossil fuel addiction and how individuals can divest in funding this industry. Introduction by Dr John Hewson, chair of The Asset Owners Disclosure Project, an independent not-for-profit global organisation whose