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.”
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.”
Other companies cited
- Harvey Norman (alleged to be using old-growth forest timber)
- Hunter Hall divests fossil fuels