I’ve been avoiding a story all week in the hope that it will go away. But no, it’s only getting bigger. Late last week:
The Australian National University will sell its holdings in seven resource companies after deciding to adopt social responsibility principles in managing its $1.1 billion investment portfolio.
The university is the first in Australia to divest stocks for social responsibility following a trend which is gaining strength in the US.
ANU said on Friday it would sell its holdings in Iluka Resources, Independence Group, Newcrest Mining, Sandfire Resources, Oil Search, Santos and Sirius – amounting to about 1 per cent of its $1.1 billion portfolio.
ANU vice chancellor Ian Young said the university’s policy was “in simple terms, we should not invest in companies that cause social harm”.
And since the Australian Financial Review has disgorged the following:
- Santos is not socially irresponsible
- ANU divestment list sparks outrage
- ANU is simplistic, lacks courage in dumping miners
- Company on ANU blacklist takes action
- Morality play with dodgy ethics
- Trading on reputation needs to be done fair and square
- Indigenous leader slams ANU ban
- Divestment avoids engagement with real issues
- McKibbin slams ANU “token” ban
- ANU’s Santos blacklisting a disgrace and jobs threat, says Abbott minister
- ANU is top carbon-emitter among universities
- Donors to ANU beware
- ANU’s divestment lauded
Today Joe Hockey has joined the furious group think:
“I would suggest they’re removed from the reality of what is helping to drive the Australian economy and create more employment,” Mr Hockey said in Washington, where he is attending International Monetary Fund and Group of 20 meetings.
“Sometimes the view looks different from the lofty rooms of a university.”
Does that look “fair and balanced” to you? Truly a witch-hunt in the great Murdoch tradition, from a new master of information control.
