Investing in Ethics: Future Patterns and Pathways
Spiller, Rodger, New Zealand Management
The momentum for business to invest in ethical practices and sustainability is likely to increase in 2006 as investors and other stakeholders continue to focus on these issues. Progressive businesses are recognising this development and learning from leaders how to capitalise on the benefits of sustainable enterprise. Two leaders in the field of ethical investment and business in Australia share their views on developments in Australia and New Zealand.
Australian businesses are embracing corporate social responsibility (CSR) with gusto. That's the view of Michael Walsh--editor and publisher of Ethical Investor magazine, executive director of Corporate Monitor and a former chairman of the Ethical Investment Association. "While there remains a significant minority of companies that do not address environmental or social responsibility in their business model or public disclosure," says Walsh, "the majority has now taken up the CSR mantle. Those that have established themselves as leaders in the CSR field are forging ahead with new programmes, forcing others to lift their CSR game and still others to enter the fray."
Meanwhile, for Louise O'Halloran, executive director of the Ethical Investment Association, a red-hot issue, with activity and battles on all fronts, is Federal government inquiries into directors' duties and CSR reporting. These have come about as a direct result of the James Hardie claim that it was restricted in its efforts to put aside sufficient payments for outstanding asbestosis liabilities …
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Publication information: Article title: Investing in Ethics: Future Patterns and Pathways. Contributors: Spiller, Rodger - Author. Magazine title: New Zealand Management. Volume: 53. Issue: 1 Publication date: February 2006. Page number: 46+. © Not available. COPYRIGHT 2006 Gale Group.
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