I have been a client of Australian Ethical for a number of years now. I made the conscious choice to switch super funds in an effort to invest more responsibly. Their website says "We invest in companies to have a positive impact on the planet, people and animals. We agitate for change and that means taking a stance." This sounded great and seemed aligned to my values.
Until I realised that Australian Ethical invested in property. And this included Lendlease Group and Stockland who facilitate Honey Birdette's harmful hyper-sexualised advertising. The very advertising I have been campaigning against for years. And just so we are clear this is the type of advertising that Honey Birdette are pushing in the public domain to our kids. This is what Lendlease Group and Stockland are facilitating. This is what Australian Ethical are investing in. This is what my superannuation is funding.
Australian Ethical replied:
"We agree the advertising from Honey Birdette is concerning. They have breached the Australian Association of National Advertisers Code of Ethics 30 times since 2012 & shown general disregard toward compliance with the Code."
"We are engaging with Lendlease & Stocklands asking them to require Honey Birdette to comply with the Code for all advertising within their shopping centres."
"We invest in Lendlease because they develop & manage a range of properties including schools & hospitals & are considered a sector leader in sustainability. They’re also one of the few companies in the industry to target large scale urban regeneration projects."
"Like all companies Lendlease has negative impacts which we take into account in our ethics assessment. But not every negative will mean a company is automatically ruled out for investment & in some cases we can have more of an impact engaging with them."
"We exclude over 60% of the ASX top 200 companies. The word ethical doesn't mean every company we invest in is perfect (in our experience perfect companies are rare). We look at the positives and negatives to assess if a company is, overall, aligned with our Ethical Charter."