Australian Ethical Investment
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| Australian Ethical Investment Limited | |
|---|---|
| Type | Public Stock Symbol: AEF, Stock exchange(s): ASX |
| Founded | 1986 |
| Headquarters |  Canberra, Australia |
| Key people | Anne O'Donnell (CEO) |
| Industry | Finance |
| Products | Not Applicable |
| Revenue | ▲ $$1,362,612 AUD (Y.E. 30 June 2006) |
| Employees | About 50 |
| Website | www.austethical.com.au |
Australian Ethical Investment Limited is an Australian owned company established in 1986 for the purpose of environmental and Socially responsible investing. The company is based in Canberra and is listed on the Australian Stock Exchange (ASX).
The company offers a number of investment trust funds and superannuation trust funds with all investments guided by an Ethical Charter. The charter seeks out investments which are environmentally friendly or encourage workers' participation in the ownership and control of their work organisations and places, while excluding investments which pollute or produce harmful products, are speculative, encourage militarism, or deemed exploitative or discriminatory.
Australian Ethical donates 10% of its company profit to Australian charitable, benevolent and conservation projects through a community grants program.
Ethical investment funds offer different degrees of socially responsible investing, sometimes differentiated within the industry as "deep green", "green" and "pale green" funds. According to Credit agency Standard & Poor's Australian Ethical Investment is arguably the only true green fund operating in Australia as of early 2007.[1]
Michael O'Brien, International Portfolio Manager with Australian Ethical Investments said at a seminar on 29 March 2007 that they currently manage just over $500 Million across four trusts and they aim to be managing more than $1 Billion by 2010. The focus of AEI is on investing in ‘highly ethical’ companies through using positive screens for finding companies involved in the renewable energy sector, the production of ‘natural food’, recycling and public/efficient transport providers, as well as excluding companies on several grounds, including uranium mining. According to O'Brien this screens out about 90% of the Australian market and has resulted in AEI seeking out overseas investments that meet its ethical criteria.[2]
[edit] References
- ^ Keen to be green? Follow your values with your money Sydney Morning Herald, April 22, 2007 Accessed April 28, 2007
- ^ Ethical investing for foundations: generating returns and fulfilling your foundation’s mission Philanthropy Australia Seminar 29 March 2007. Accessed 28 April 2007
