Thursday, April 08, 2010
Australian Ethical Climate Advocacy Fund
Australian Ethical Investment (AEI) have set up a Climate Advocacy Fund to use collective shareholder activism for companies to behave better on environmental and social issues. Apparently this is common in the USA, but not in Australia. Concerned members of the public can invest in the fund. The fund then buys shares in companies. Unpaid nominees for the fund vote at shareholder meetings to change the company policy. I have volunteered to be one of the nominees, as well as having some investments in AEI and being a shareholder.