Caged eggs the new coal for ethical fund
Campaigns to encourage funds manager to shed their holdings in coal could be mirrored in the food production space, Australian Ethical believes.
Having signed up to the international Business Benchmark on Farm Animal Welfare, Australian Ethical head of ethics, Dr Stuart Palmer, said mainstream funds were beginning to see animal welfare as a risk management issue.
"Leading institutional investors from across the globe are partnering with the Benchmark to encourage global food companies to meet a certain standard of animal welfare," he said. "This is a powerful tool for change, and we are proud to be part of this initiative.
"As an ethical fund manager, we have always viewed animal welfare as a key concern when screening our investments. This has paid off both ethically and financially, as our returns continue to outperform the market.
"Recent divestment campaigns around coal prove that the Australian public takes an interest in where their money goes, and if they consider it to be funding an unethical practice they will take action.
"Similarly, the move away from cage eggs and protests about the live export trade are two recent examples of food production practices generating public concern. They demonstrate that animal welfare is an important issue for food producers, food retailers and the investors who fund them."
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