Aussie pension fund backs gas for energy shift

HESTA has assets of A$83bil and holds stakes of at least 0.5% in the country’s two biggest natural-gas producers, Woodside Energy Ltd and Santos Ltd. — Bloomberg

MELBOURNE: One of Australia’s largest pension funds has backed arguments by the government and the nation’s big energy companies that natural gas will be needed as a bridging fuel in the transition to cleaner power.

HESTA has assets of A$83bil and holds stakes of at least 0.5% in the country’s two biggest natural-gas producers, Woodside Energy Ltd and Santos Ltd.