Origin Energy’s Coal Seam Gas operations are too risky to be considered ethical.
Following a thorough assessment and review process, Australian Ethical has sold out of its investment in Origin Energy.
Australian Ethical Managing Director, Phil Vernon, said: “The decision was taken following a thorough assessment of the risks surrounding Origin’s Coal Seam Gas extraction operations.
“Our conclusion was that, whilst the industry has invested in methods to minimise these risks, many of these are untested and there remain concerns about their long-term impact”.
Australian Ethical’s original investment in Origin was driven by their investment in renewable energy, their Greenpower program and their significant position in rooftop solar installation.
Mr Vernon said: “Origin has many positives but after considerable monitoring and analysis with the assistance of our ethical research advisers CAER, we have decided to divest from the stock.
“This leadership position reflects our status as Australia’s foremost ethical investment manager for over 25 years.”