MEDIA RELEASE | Put your money where your mouth is
Monday, September 22nd, 2008The ACT Greens lead candidate for Brindabella, Amanda Bresnan, has committed the ACT Greens to pursuing ethical investment of Government funds in the new Assembly.
“Following pressure from Greens MLA Deb Foskey, and the scandal of ACT Government investments in cluster-bombs and tobacco, the ACT Government signed up to the United Nations Principles for Responsible Investment.”
“Initially we were really pleased with this step, but the Government has failed to follow through and these immoral investments remain.
“The Chief Minister has not used his shareholder status to ask a single question about the operations of the businesses the Government invests in.”
“The ACT Government fund managers do not appear to have taken any active steps to cut our investments in contentious industries or lift our game on the social or environmental front.”
“The role of the Government is to set the ethical guidlines for the fund managers to work within.”
The Greens will seek to include negative screening and positive screening as part of ACT Government investment guidelines.
“Negative screening is the best way to bring an end to our tax dollars being invested in harmful industries, like tobacco and cluster-bombs.”
“Positive screening guidelines would increase investment in industries such as solar and wind power by commiting a minimum percentage of funds to ethical investment.”
“We will push to invest Canbera’s savings sustainably, ethically and locally where possible.” Ms Bresnan said.