Ethinvest - Shareholder Advocacy 2013-2014

Ethical Investments

Ethinvest's "Shareholder Advocacy 2013-2014" report.

"In 2013 and 2014 Ethinvest continued to build momentum on a range of initiatives to improve the environmental and social performance of Australian listed companies."

Includes:

BHP Billiton, Climate Change & Ian Dunlop

"In my view, the greatest challenge the world, and BHP Billiton, now faces is global warming caused by greenhouse gas emissions from human fossil-fuel consumption. The extent and speed of warming has been badly underestimated.

Current policies are leading to an average surface temperature increase in excess of 4 degrees celsius, compared with the ‘official’ target of less than 2 degrees celcius. This (implies) a world of 1 billion people, not 7 billion, in which business as we know it is not possible. It is nothing less than suicidal to continue investment in fossil-fuel expansion.

The current board must take action by changing investment priorities far more extensively than the company has recently announced. I consider that my particular mix of experience and global perspective would complement existing board member skills in achieving what must become top priorities for BHP Billiton and its shareholders."

[Ian Dunlop]

Other companies cited

  • Harvey Norman (alleged to be using old-growth forest timber)
  • Hunter Hall divests fossil fuels

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