Local weather 200 impartial Kylea Tink says she bought “small shareholdings” in two fossil gasoline corporations to raised perceive their operations and doubtlessly drive change from inside.
Tink – who was elected because the federal impartial MP for North Sydney in Could alongside a number of different “teals” – owns shares in Viva Power Group, which refines oil for Shell in Australia and owns Geelong Oil Refinery, and Seaside Power, an oil and fuel exploration and manufacturing agency.
Kylea Tink mentioned she purchased shares in two fossil gasoline corporations in order that she could possibly be a shareholder activist.Credit score:Alex Ellinghausen
The investments have been revealed in Tink’s lately revealed declaration of pursuits, a requirement for all MPs.
By way of a spokesperson, Tink instructed the Herald and The Age she purchased small shareholdings in quite a few corporations “the place she felt shareholder activism could also be a option to each higher perceive the entities concerned and doubtlessly exert stress from inside to drive reform”.
Tink selected Viva Power as she was “involved the refinery was not being pushed to supply the best high quality gasoline for the Australian market”, whereas she selected Seaside Power to “present her with perception into how they have been continuing with oil and fuel exploration”.
“Kylea has been very vocal in her want to see change and reform and stays dedicated to exploring shareholder activism as a option to have an effect on change,” the spokesperson mentioned.
“She would encourage anybody with the capability to take such a plan of action to additionally change into shareholders within the corporations that they want to see reformed as it’s usually solely from working inside that change might be pushed.”
Tink didn’t disclose what number of shares she purchased however mentioned she donated her dividend funds to renewable vitality campaigns or emissions offsetting. Her spokesperson didn’t reply questions concerning the extent of her shareholder activism, whether or not she attended any shareholder conferences or whether or not she would now divest her shares.
Like different teals, Tink has been crucial of fossil fuels and the businesses that revenue from them, together with in a tweet in April: “Fossil gasoline producers want to seek out different types of vitality in the event that they wish to keep in enterprise.”
