Business Services Industry
Dirty deeds.
Australasian Business Intelligence, November, 2002
Nov 17, 2002 (The Age - ABIX via COMTEX)
Australia's socially responsible investment (SRI) industry may not be all that responsible. A study undertaken by the Total Environment Centre (TEC) aimed to unmask funds that are hiding less-ethical investments in their portfolios. TEC points to four companies with questionable histories that are nevertheless often held by SRI funds. These are Rio Tinto (uranium mining); BHP Billiton (involved with Papua New Guinea's controversial Ok Tedi mine); Orica (poor waste disposal); and Patrick (debatable industrial relation techniques). According to Dave West, manager of TEC's Green Capital program, fund managers give each investment a scorecard, and it is this assessment which must be understood. Chief investment officer with...
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