Sustainable Investment; The Big Switch; The Climate Action Bill,
"Climate Change Mechanics and Ethics" a guide for the perplexed by Ian Dunlop.
July 2007
Sustainable Development according to the United Nations Brundtland Report 1987 “development that meets the needs of the present, without compromising the ability of future generations to meet their own needs.”
A) Sustainable Investment: Welcome WFCA members and friends to the ninth WFCA newsletter. In July we are exploring the concept of Ethical and Sustainable Investment and how as individuals we have the choice to select how our precious savings and investments are used to fund economic expansion. Most of us are not experts in the field of finance or investment and as such, we use third party professionals to advise us on the best and most appropriate ways to invest our hard earned savings , notably superannuation. What most of us do not realise is that we all have a choice in the manner those savings are invested. In the same way as when you go shopping you may choose to buy product A, because you know that they do not test on animals, or you choose organic local food because it is better for your family and the environment, then you can also choose not to invest in companies that fail to fit your value system or principles i.e. gaming, tobacco or deforestation.
As an investment banker with a tradition in emerging market economies, I can profess to not having been as diligent as I am now about trying to invest in companies that only meet my preferred sustainability criteria. However I am learning that as a customer with funds to invest I have a choice and the right to exercise that choice. Here are three ways you can make a difference.
1) “The Ethical Investor” Firstly if you would like to become more knowledgeable on the subject, I am happy to recommend a recently released book by one of WFCA’s friends, Anne-Marie Spagnolo Financial Adviser at Ethical Investment Services wrote’ The Ethical Investor” Make Money and Feel Good ,Penguin ...rrp $22.95. It is available at all good book stores and is an excellent and easy to read summary on “how you can put your money where your heart is and still make healthy profits. Investing ethically allows you to reap personal and financial rewards and help influence change as well.” This is a good start to becoming more mindful of these issues when investing.
2) Changing Fund Managers Opinions : As investors, which most of us are these days with superannuation savings we can explore ways which assist other investment firms to be more sustainable and ethical in their investment practices. It is in this capacity that I am seeking those of you who would like to be signatories to a letter to Perpetual with regard to their position in Gunns as the largest shareholder. The letter has been posted to the letters section of the website, please take the time to review it and consider placing your name as a signatory. Click here for letter.
3) Fund Raising for the Wilderness Society: WFCA is also supporting The Wilderness Society Tasmania this month in a fund raising capacity. We are asking all of you who are concerned about the destruction of our old growth forests in Tasmania to make a donation to the Wilderness Society to assist them in funding an advertising campaign to raise awareness of those financial institutions that are supporting Gunns and the proposed pulp mill. Cheques can be made out to the Wilderness Society and sent to WFCA Inc, PO Box 944,Woollahra 1350. Please include your name and address and a tax deductible receipt will be issued. Your support for this campaign would be very much appreciated.
B) The Climate Action Bill: A Call to Australia’s Political Leaders from Australian communities. In 2005, communities across the UK decided they wanted their politicians to take action on climate change. They seized on a draft Climate Change Bill put together by green groups, and 130,000 people across the country contacted their MP to support it. In response, 400 MPs voted for the Bill and when passed in Parliament, the UK will become the first country to legislate binding limits on Greenhouse Gas pollution.
Inspired by the success of UK community members, Australians concerned about climate change in communities across the country have written a Climate Protection Bill.
This Bill comprehensively addresses the cause of Australia’s spiraling greenhouse gas emissions, and proposes workable solutions to stem these emissions, protecting people and the planet for future generations.
The Climate Protection Bill is a powerful tool for community members. It unifies the concerns of Australians across the country, and gives each of us a set of demands to take to our MPs and contesting candidates in the lead-up to the 2007 federal election.
WFCA is a proud signatory to this document. If you would like more details or would like to personally sign it, see : http://climatemovement.org.au/component/option,com_fabrik/Itemid,418/
C) The Big Switch website was launched in July and offers all of us a summary on how are politicians are faring on their Climate Change policy green. See how our Environment Minister Malcolm Turnbull is rated http://www.thebigswitch.org.au/index.cfm?page=ourPoliticians.intro&pageUUID=41AF0FA9-4235-F224-A80442424D1D478B
Currently our Incumbent Minister is rated a zero out of five score, check it out.
D) Our special guest author this month is Ian Dunlop “Climate Change Mechanics and Ethics” a guide for the perplexed. This article first appeared in the Winter 2007 edition of "Living Ethics”, the newsletter of St. James Ethics Centre. Click here for article
Danielle Ecuyer
President WFCA
