CSG not ethical enough

A local resident who has invested his superannuation with Australian Ethical Investments (AEI) has been distributing an email saying that AEI has funds invested in coal seam gas companies and calling for other investors to pressure the company to drop the investments.

A form letter to the company said, "I chose your company for my super. It is unfortunate however that your decision to accept CSG as a transition fuel is underpinned by outdated information."

The Echo contacted AEI to find out if they had in fact been investing in coal seam gas and was told that they had invested in Origin Energy for many years. But a decision was made last week to divest all funds from Origin because of concerns about CSG from investors.

"Australian Ethical has been monitoring coal seam gas closely and its relative environmental costs and benefits. In areas such as groundwater extraction and management, while positive solutions to the issue are being implemented, they are yet to be fully tested and proven. As a consequence, we have recently decided to divest from Origin," a spokesperson said.