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Friday, July 4, 2014

ACC threatens rare frogs - and logic


"ACC investment manager Nicholas Bagnall said the organisation treated the UN guidelines as a framework rather than rules.

He said the corporation had its own ethical policy, which was to avoid investing in anything which would be deemed unethical by most New Zealanders.

To determine that it looked at New Zealand legislation, and worked on the principle something would be illegal if most New Zealanders deemed it unethical."

Whaaat?

ACC is investing in mining that could threaten our rare-as-can-be native frogs, and this is their rationale?

Sick thinking.

3 comments:

Paranormal said...

Ethical investing - the dressing up of a dog in Green clothing to make it look like a winner.

Armchair Critic said...

Unethical investing - dressing your poodles in yellow, and purple, and making sure their hairdo is neat. Some natty glasses or a bowtie make a great finishing touch.

Paranormal said...

Ah but AC, isn't it clever that a man that can balance a ferret on his head can entrance the voters through so many elections.

BTW the 'Green' in my comment above was not a political reference. I was referring to the ethical investment community that dress certain investments, that are otherwise dogs,
in a veil of green sanctimony to trap unwary investors.