Environmental Group Says AMP Fund's Exposure to Firms With Fossil Fuel Expansion Plans Exceeds 7%
MT Newswires Live
Yesterday
AMP's (ASX:AMP) MySuper 1970s fund's exposure to 200 companies expanding fossil fuels globally, known as FFX 200 companies, is 7.3%, per a Tuesday statement from Market Forces.
Clean energy companies achieved more than double the investment returns of FFX 200 companies over seven years, the environmental group said.
Emissions from these companies' coal, oil, and gas expansion plans are equal to 300 years of Australia's national annual emissions, the group added.
AMP did not immediately respond to MT Newswires' request for comment.
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