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There has been an avalanche of divestment, including from the Rockefellers and the ANU, as they discern a lack of concern for environmental, social and governance issues. Shareholders attending Wednesday’s Commonwealth Bank AGM will hear a resolution requesting more transparency about the bank’s fossil fuel investments. But the bank’s response can seem like a game whose rules only become clear to its participants as they play it. Banks and other powerful organisations can still exploit any lack of clarity.
When the ANU sold its shares in coal companies recently, it received a mixed response. Critics said investment decisions should be made solely on financial grounds. But investing is done by human beings, who should be guided by their effects of their investment on other human beings, not simply by the profit it brings them.
View this week's offering from Eureka Street's award winning political cartoonist.
Unfortunately, when people pin their hopes for a just and fair society to a corporation, they can be sadly disappointed. A spate of deaths around the country suggests that many corporations have plenty of power to influence governments to produce policies and legislation convenient for their operations, but fail to take responsibility for their bad outcomes, which include deaths in workplaces.
We created the robots to make our lives easier. Before we knew what was happening the robots had transformed our world. Each day people go about their business, feeling unhappy but unable to name the source of that dissatisfaction.
The Coalition glorifies business entrepreneurship, which is promoted as a good that trumps social inclusion. It is paradoxical that there is more appetite for social entrepreneurship in the USA, which is known as the land of the self made man. The explanation is that investing in social capital ultimately makes good business sense.
Clive Palmer is thwarting some of the inequities in the Coalition’s Budget and legislative program. He appears to stand for policy that is confused and inconsistent, and possibly self-interested. But in joining hands with Al Gore he has shown himself capable of forging alliances with business and other entrepreneurs, for the common good of humanity. Fellow mining magnate Twiggy Forrest got together with Pope Francis to promote the abolition of slavery. Perhaps the Pope is on Clive’s list.
Ramadan fasting is the symbol of a deeper commitment to focus on what matters. For Muslims it is a time to correct bad habits, mend relationships, read the Quran and pray, give alms to the poor, and meet people. It is serious business, but not a private business. The seriousness of this quest to recognise what matters and to live by it is a challenge to all Australians because it invites us to ask how we deal with these questions ourselves.
In 2009 Cambodia enacted its own laws concerning refugees. If asylum seekers are found to be refugees they are given a prakas that allows them to stay legally in Cambodia but which is not accepted as a proof of identity by most employers, businesses and banks. The sense of insecurity of those seeking asylum is heightened by the memory of the 29 Uighur asylum seekers who in 1995 were deported from Cambodia to China at gun point.
Earlier this month, Pope Francis once again blasted capitalism. But it is not true that all business leaders dismiss those who appear chronically unproductive. Thursday's Vinnies' CEO Sleepout included investment bankers and other capitalist 'true believers', and now venture capitalist Mark Carnegie is proposing a war against growing inequality and disengagement, as if he is on a unity ticket with the Pope.
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