Bad governance affecting the planet and profits

WILDERNESS SOCIETY
The Wilderness Society calls for global investment reform. Demonstration event at international corporate governance conference, 9:15 am, Tuesday 14th July

Environmental campaigners will call on the investment sector attending the International Corporate Governance Network’s annual conference, to get active and help stop the environmentally destructive practices of companies such as Gunns Ltd., proponent of the controversial Tamar Valley pulp mill.

The Society will host a demonstration event outside the conference on Tuesday morning (14th), encouraging the corporate sector to actively reform the management of companies like Gunns.

Gunns continue to base their business on the destruction of Tasmania’s precious native forests, which are a vital solution for climate change. This does not make good business sense as demonstrated by the ongoing poor performance of Gunns.

Joining the cause outside the conference was the industry’s very own ‘Super Activist’. The Super Activist championed the public desire for sustainable superannuation investment, not investment that props up projects such as Gunns’ controversial Tamar Valley pulp mill.

The Wilderness Society is attending the conference to explain the case for reform of companies like Gunns. International climate change campaigner, Al Gore, will be addressing the conference on Wednesday, 15th July, reinforcing the need for urgent action on climate change.

WHAT: Demonstration at the International Corporate Governance Network’s 2009 Conference,
WHEN: 9.15 am,
Tuesday 14th July,
WHERE: The Hilton (George St entrance),
488 George St, Sydney.

For more information about the Super Activist campaign visit www.wilderness.org.au/superactivist

For information on the International Corporate Governance Network’s conference visit http://www.icgn.org/conferences/2009-sydney/

Wednesday:

MEDIA RELEASE – 15th July 2009

AS AL GORE CALLS FOR ACTION ON CLIMATE CHANGE

THE WILDERNESS SOCIETY TARGETS CARBON POLLUTERS

As international advocate for action on climate change Al Gore addressed a joint session of two corporate governance conferences in Sydney today, members and supporters of The Wilderness Society protested, calling on investors to help with urgent reform of carbon polluting companies such as Tasmanian native-forest woodchipper Gunns Ltd.

Gunns’ core business is based on the controversial destruction of Tasmania’s native forests, recognised as some of the most carbon dense forests on the planet. Logging native forests releases massive amounts of carbon pollution, making Gunns’ dependence on native forest destruction and its pulp mill proposal poor environmental and business decisions.

“Investors in Australia are failing to act on climate change and urgent action is needed to reform the behaviour of carbon polluting companies like Gunns,” said Paul Oosting, spokesperson for The Wilderness Society.

“We welcome Al Gore’s address to these conferences and support his call to action on climate change but we urge the finance sector to do more and get actively involved in governance reform.

“The finance sector has a critical role to play in a climate solution and responsible investors can assist in changing companies like Gunns, helping to protect our planet by delivering deep cuts in carbon emissions while achieving good financial returns for their clients.

‘It is essential to change the poor governance practices of companies like Gunns, delivering win-win outcomes for both the environment and ethical investors,” Mr Oosting continued.

New research from the Australian National University proves that Victorian forests similar to those found in Tasmania store more carbon per hectare than any other forest type in the world, including tropical rainforests.

“The fastest, cheapest and easiest way we can make deep cuts to our greenhouse gas emissions is to protect our native forests,” continued Mr Oosting.

“Today it is vital that every business and investment decision considers climate change. Responsible investment demands good corporate governance and in-turn, good governance must help to protect our planet by protecting the carbon stored in native forests,” concluded Mr Oosting.

WHAT: Demonstration outside the Al Gore address of joint corporate sector governance conferences

WHEN: 11.40 am,

Wednesday 15th July,

WHERE: The Hilton (George St entrance),

488 George St, Sydney.