Ethical Partners is proud to be part of over 40 collaborations across the investment industry and with civil society. We believe it is crucial for investors to collaborate, as we see collaboration as both a powerful way to compel companies and policy makers to address issues, but also to advance conversations on these issues amongst the investment community and assist the investment community to learn from each other.
As such, we have recently signed on to a handful of new collaborations and initiatives, including the Investor Alliance for Human Rights and the Investor Statement on Corporate Accountability for Digital Rights
We have also recently signed on as a TCFD Supporter, reflecting our commitment to the TCFD’s recommendations, and our continuous engagement with companies on implementing TCFD reporting.
Our most recent signatory collaboration is the Global Investor Statement to Governments on the Climate Crisis, which was released recently. We are proud to be one of 457 investors, managing more than US$41 trillion in assets, who have signed the statement. This statement urges a global race-to-the-top on climate policy and calls for all governments to undertake five priority actions before COP26 in November, as below:
1. Strengthen their Nationally Determined Contributions (NDCs) for 2030 in line with limiting warming to 1.5°C;
2. Commit to a domestic mid-century, net-zero emissions target and outline a pathway with ambitious interim targets including clear decarbonisation roadmaps for each carbon-intensive sector;
3. Implement domestic policies to deliver these targets, incentivise private investments in zero emissions solutions and ensure ambitious pre-2030 action; including: "the removal of fossil fuel subsidies by set deadlines, the phase out of thermal coal-based electricity generation by set deadlines in line with credible 1.5°C temperature pathways, the avoidance of new carbon-intensive infrastructure (e.g. no new coal power plants) and the development of just transition plans for affected workers and communities."
4. Ensure COVID-19 economic recovery plans support the transition to net zero emissions and enhance resilience; and
5. Commit to implementing mandatory climate risk disclosure requirements aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
At Ethical Partners we echo these calls and look forward to continued collaborations and shared advocacy on these issues with fellow concerned investors.
Please see attached the investor statement to Global Governments on the Climate Crisis.
The tragic human rights situation currently unfolding in Myanmar holds particular significance to our Sustainability Analyst Georgina. Please read Georgie’s poignant thoughts on her visit to the camp, our expectations on our portfolio companies in regard to Myanmar, and why Ethical Partners has recently signed on to the Investor Statement on Human Rights and Business Activities in Myanmar.
As members of the Investor Group on Climate Change, Ethical Partners Funds Management strongly endorses its new roadmap released today in conjunction with the CDP and the Principles for Responsible Investment. It is entitled: "Confusion to clarity: A plan for mandatory TCFD-aligned disclosure in Australia".
During May 2021 the Fund returned 1.56% versus the S&P/ASX 300 Accumulation Index of 2.31%, underperforming the market by -0.75%. An underweight position in IT and an overweight position in Westpac contributed to relative performance while an overweight position in Consumer Staples and an underweight position in CBA detracted from relative performance.