Why advocacy?
A climate change focus
Climate change is the most important issue to face present and future generations. The scope and potential impact of climate change – environmental, humanitarian, health and political – make it an overarching issue to rival the consequences of war in magnitude.
For this reason climate issues will be the primary initial focus of the Fund, though in time a range of related social and environmental issues will also be addressed.
Corporate change needed
Advocacy is a constructive engagement process used in an endeavour to highlight and reduce the climate risks faced by business. Through advocacy the Climate Advocacy Fund aims to improve the sustainability and financial performance of listed Australian companies.
Encouraging disclosure
In 2008, only 8 per cent of companies in the S&P/ASX 200 disclosed their emissions according to the Greenhouse Gas Protocol, while 60 per cent disclosed no data. This prevents investors from evaluating the carbon intensity of their investments.
The Climate Advocacy Fund seeks to engage companies aiming to improve their commitment to disclose and reduce emissions.
Power in numbers
In order to put resolutions to an Australian company on climate change and related issues, the support of at least 100 shareholders is required.
Arrangements have been made with 100 Australians deeply concerned about corporate responsibility, who are prepared to use a shareholding in support of the Climate Advocacy Fund's aims.
The Fund will also seek to get the wider support of other shareholders.
