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Article

16 Jun 2020

Author:
Charlotte Grieve, The Sydney Morning Herald

BlackRock and CBUS faces pressure over investee company China Shenhua Energy’s plans to destroy Aboriginal artefacts

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“Investors face pressure over miner set to destroy Aboriginal artefacts”, 16 June 2020

The world’s largest asset manager and a top superannuation fund are facing pressure to explain investments in a Chinese conglomerate set to destroy ancient Aboriginal artefacts at a coal mine in regional NSW.

China Shenhua Energy … is planning to construct an open-cut mine next to the Liverpool plains near Gunnedah…

The mine has been fiercely opposed by the site's traditional owners, the Gomeroi people…

… BlackRock … has hundreds of millions dollars invested in China Shenhua Energy…

CBUS also confirmed a small investment in the firm…

Failures by mining companies to preserve Indigenous artefacts have come into sharp focus after … Rio Tinto … decimated a 46,000-year-old site … against the wishes of its traditional owners.

Gomeroi woman Dolly Talbott called on major institutional investors to boost transparency about where they put their clients' money.

[CBUS] said it was considering divesting its stake … and would ask its investment managers to incorporate First Nations heritage issues into engagement strategies.

BlackRock has … pledged to reduce its holdings of thermal coal. The firm's founder … has also been a prominent supporter of the Black Lives Matter movement.

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