It’s a triple-whammy where Australians will see vital industries grind to a halt, high gas prices passed on to them as higher costs, and they’re going to see their superannuation balances suffer as well. Some of the co's most at risk from gas shortages are among the biggest holdings in super funds
Theres a real risk that gas dependent co's will shutter when the shortages hit in as little as 3 years.
These co's produce our food, manufacture our health devices and help build our homes. There are aged care companies who may not be able to provide hot water or heat for elderly residents.
5. Australians will pay the price if companies don’t shift away from gas, through higher prices, loss of services, and potentially large investment losses in their superannuation portfolios.
4. Companies gambling on gas include those that produce our food, manufacture our health devices, and help build our homes. These are companies that could shutter, like others already have, if they continue to remain at the mercy of the gas industry.
3. Too many companies are relying on unlikely solutions outside of their control, like construction of multi-billion dollar pipelines through farmland or buying Australian gas back at international prices. These don’t make sense when the technologies already exist to reduce or remove gas use.
2. Lagging companies gambling with gas don’t have a plan for how they’ll keep operating through gas shortages and price rises - and even leading companies aren’t switching fast enough to avoid the threatened gas shortages and price rises.
The top 5 take-aways from the Gambling with Gas report
1. Most ASX-listed companies remain overly reliant on gas as an expensive and unreliable energy source.
Australia's biggest listed companies are taking a huge risk on gas.
With high prices and threatened gas shortages - we'll all pay through loss of services, higher costs and super losses.
SIX has released the Gambling with Gas report. www.six-invest.com.au/gambling-wit...
✊Efforts agitating for a liveable planet are working✊
"A survey of CEOs at AEP member companies blamed Australia’s “well intentioned” environmental regulation, efforts to address climate change, and specifically singled out climate activism and litigation as a threat to continued investment." 🙌
