Up to 1.4m Aussies invest in the world’s most unethical company via Australian Super
Australian Super has disclosed that it has a substantial investment in Monsanto Co, multinational agricultural biotechnology corporation recently voted the most unethical company in the world. Monsanto, a former manufacturer of Agent Orange, produces genetically modified crops, bovine growth hormone, and herbicides, and is accused of countless bribery and corruption incidents.
The superannuation (pension) fund Australian Super invests $30 billion on behalf of 1.4 million working Australians – according to their website, more than 1 in 10 working Australians are members of Australian Super. That’s a lot of people that are investing, probably without their knowledge, in Monsanto.
According to Australian Super’s website, Monsanto Co. was the 14th largest international shareholding as at 30 April 2011 (closely followed by two tobacco companies, Imperial Tobacco & Phillip Morris). See: http://www.australiansuper.com/investments_investment-processes_share-holdings_international-shares-exposure.aspx
If the fund invests $30 billion, how many millions are invested in Monsanto? Has Australian Super asked their members if they are happy to profit from the dealings of Monsanto?
The world’s most unethical companies were compiled by Swiss research company Covalence in their 2010 annual review of multinational corporations. The research company examined both quantitative and qualitative data of over 581 companies. These companies were rated using 45 different criteria including a companies human rights record and labour standards. Monsanto made it to the top of the list: the worst of the worst.
The Missouri based agricultural company leads the world’s production of genetically modified foods. Monsanto is infamous for unfairly suing farmers who try to grow foods both ethically and organically. If the lawsuit is not ruled in Monsanto’s favour, they still achieve their desired results as the small-scale farms become bankrupt due to legal costs. The company is also the creator of the highly poisonous herbicide named Roundup (a weed killer). This weed killer is both damaging to ecology as well as humans. A 2008 scientific study found Roundup can cause the death of unborn children (source: Actionforourplanet.com, 2011).
There are many articles, documentaries and books on Monsanto’s controversial past. See:
Monsanto on Wikipedia:
http://en.wikipedia.org/wiki/Monsanto
Monsanto’s Dark History: 1901-2011 (bestmeal.info, 2011):
http://bestmeal.info/monsanto/company-history.shtml
Monsanto’s 7 deadly sins (Greenpeace, 2008):
Monsanto’s ‘Harvest of Fear’ (Vanity Fair, 2008):
http://www.vanityfair.com/politics/features/2008/05/monsanto200805
To find out how to avoid companies like Monsanto in your Super & Investment funds, talk to JustInvest today. We have a long history of helping clients invest responsibly (see our ‘Responsible Investment’ tab).
