This is my piece for the ABC on the Greens’ proposal to add an ethical investment component to the Future Fund.
“Not for the first time, the Greens have caused some hubristic harrumphing from the business sector with an idea that shines a light into an area Big Business would rather remain darkened.
The latest Greens missile is from Senator Richard Di Natale, and it concerns the marrying of social conscience and moral values with hard business.
The Greens have suggested that Australia’s version of the fashionable sovereign wealth fund – known as the Future Fund – should be obliged to incorporate ethical investment mechanisms in its investment culture.
The reaction has been predictable, but the Greens seem not to have thought through their proposal in a way that would make it easier for them to sell it to the Big End of Town, as well as to the electorate…”(more)