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Good news for electric vehicles

Finally some good news for electric vehicles in Australia (at least in NSW). The NSW government has announced a half billion dollar package to incentivise the uptake of electric vehicles which includes direct subsidies, stamp duty removal, the ability to use transit lanes and the rollout of substantive charging infrastructure. Hopefully we will see other states (and the federal government) follow suit.

NSW EV Strategy

source: NSW Government

see the world’s first full-size, all-electric passenger plane which has a reported range of 1,000kms (Sydney to Melbourne is 712kms) at speeds of up to 450kph. Operating costs are so low the company envisions up to 80% less for ticket prices.

Modern Slavery: How exposed are Australian investors

In Australia, entities are required to publish public corporate statements detailing their actions to assess and address modern slavery risks under the Modern Slavery Act 2018.  Mandatory disclosure alone will not eliminate modern slavery.  To address this issue, a coalition of investment firms representing AU$5.9 trillion under management, Investors Against Slavery and Trafficking, is urging Australian companies to go beyond simply ticking the box and use their obligations under the Act to proactively protect the rights of workers.

Australia is heavily dependent on imports from China. For this reason, investors should be alert to the possibility that they are exposed to modern slavery related risks through equities they hold that are connected to XUAR (Xinjiang Uyghur Autonomous Region) activities, which has long been considered an area of concern for modern slavery risks.

We recently engaged with some of our fund managers on the vulnerability of some of the portfolio holdings where Uyghur Forced Labour can pervade an entire supply chain and reach deep into international markets.

The connection between XUAR manufacturing activities, forced labour, and Australian imports, means that investor decisions can play a significant role in financing, or preventing, modern slavery – read more about this emerging ESG topic.

source: ISS Insights

Our corporate engagement – Macquarie and Empire Energy

EIA Director Louise Edkins recently wrote to Macquarie on behalf of EIA and our clients who use Macquarie products, making known the disappointment concerning Macquarie’s involvement in Empire Energy which has a permit to frack in the Northern Territory as well as the Texas Gas Project on Indigenous lands in South Texas assisted by Macquarie.

Macquarie’s response as a minority shareholder (4%) of Empire Energy, is they are satisfied that Empire Energy have consulted widely and obtained full and informed consents from all relevant groups on all current and future work programs.

GetUp! activist group spoke with First Nations communities in the Northern Territory who are saying no to Empire Energy fracking for oil and gas across the NT.

source: GetUp!

Paying a fair corporate tax rate matters

One of of our fund managers Stewart Investors latest thought piece makes for an interesting read with the Case Study Transcript in a global logistics company and their amusing and interesting take on paying fair tax.

You can read the article here

source: Stewart Investors

Sustainable investment now one third of global capital markets

The biennial Global Sustainable Investment Review, released by the Global Sustainable Investment Alliance (GSIA) has revealed an industry that has grown to US$35.3 trillion while at the same time lifting its standards amid growing concerns of greenwashing.

Download the report here

source: Global Sustainable Investment Alliance

Articles for your perusal

Insights from fund manager Pengana WHEB

source: Pengana WHEB

Disclaimer The contents of this newsletter are intended as general advice only. No specific person’s circumstances, financial situation or objectives have been taken into consideration. You should not act on the information provided without seeking personal advice from an appropriately qualified financial planner. Research sources: CAER Corporate Monitor. While the source has been verified as reliable, the actual content has not been checked for accuracy. Consequently Ethical Investment Advisers does not warrant the accuracy of the information nor accept liability for any errors in the data.

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