putting your money where your mouth is
March 18th 2008 00:26
We all know the current government has their heart in the right place when it comes to the Environment. It seems however, the sum of the parts is not adding up. Government agencies, directly responsible for investing our money, are not backing the new policies. According to the ACF for every $1 invested in Cleantech and the environment; $47 is invested in Uranium and Fossil Fuels, quite a damning number.
It appears the grand daddy of all funds, the future fund, has NO SUSTAINABLE INVESTING POLICY. I can attest to this, as I know someone starting a sustainable fund who has been to see just about every major institutional investor in this country but the Future Fund is always too busy....correct me if I am wrong but these people are investing what was once our Tax dollars.
Obviously this is an issue close to my heart so i won't go on, but these government agencies must know that money is the oxygen needed to sustain the Green Energy developments in this country, these agences need to wake up. Investing in the environment is not a charitable exercise, these projects have Utility income streams and are vital for the future of this country, isn't that what a Future Fund should be all about? Investing in the Future and making money.... what s more the article states
Link to the story here
Preaching to the converted I know. But I was at a conference last week which ill do a bigger post on and there are companies out there with amazng technology STARVING for capital and the financial system in this country is not playing ball. Penny Wong has a lot to do, but whipping these guys into line could be a good place to start, give the market money and they will do the Governments job for them. Lets put our money where our mouth is.
cheers
Louie
It appears the grand daddy of all funds, the future fund, has NO SUSTAINABLE INVESTING POLICY. I can attest to this, as I know someone starting a sustainable fund who has been to see just about every major institutional investor in this country but the Future Fund is always too busy....correct me if I am wrong but these people are investing what was once our Tax dollars.
Obviously this is an issue close to my heart so i won't go on, but these government agencies must know that money is the oxygen needed to sustain the Green Energy developments in this country, these agences need to wake up. Investing in the environment is not a charitable exercise, these projects have Utility income streams and are vital for the future of this country, isn't that what a Future Fund should be all about? Investing in the Future and making money.... what s more the article states
Link to the story here
“Government-controlled funds that do not manage environmental risks in their portfolios put at risk their financial returns and the world we will leave for our kids.”
and “The ACT Government has conducted a whole-of-government review of responsible investment practices, but the biggest federal fund of them all, the Future Fund, worth $59.6 billion, does not appear to have made any commitment to consider environmental, social and good governance principles in its investment decision-making.
“I urge all governments to review their investment funds’ guidelines and make sure they are investing prudently in socially and environmentally responsible companies,” he said.
“I urge all governments to review their investment funds’ guidelines and make sure they are investing prudently in socially and environmentally responsible companies,” he said.
Preaching to the converted I know. But I was at a conference last week which ill do a bigger post on and there are companies out there with amazng technology STARVING for capital and the financial system in this country is not playing ball. Penny Wong has a lot to do, but whipping these guys into line could be a good place to start, give the market money and they will do the Governments job for them. Lets put our money where our mouth is.
cheers
Louie
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Comment by Jill Browne
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I agree with you, the money has to go to the right places.
Comment by Louie
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Comment by KylieW
Celebrity Obsession
those stats really are damning. I really expected that given the focus on sustainability and the environment that the those numbers would be much closer to one another.
Kylie