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Shareholder Activism

Ethinvest is committed to sparking change and shaping a brighter future for businesses, society and our planet through shareholder activism and advocacy for better governance, equality, sustainability and social responsibility.


Take a look at our recent shareholder engagements, as well as some highlights from previous years.

"The Ethinvest community has been instrumental to our impact over the last 11 years. From co-filing shareholder resolutions to supporting us through events, networks and philanthropy, Ethinvest has always been there. We couldn't be more grateful for this partnership, and the results it has generated over the years."

Brynn O'Brien, Executive Director, Australasian Centre for Corporate Responsibility (ACCR)

Shareholder Resolutions

Annual General Meeting Proxies

Ethinvest facilitates the appointment of proxies to campaigners who would like to be able to directly question a board of directors at an Annual General Meeting (AGM).

Commonwealth Bank of Australia

Ethinvest clients empowered student and activist proxies to question CBA's environmental commitments at the October AGM. CBA's policies do not align with limiting warming to 1.5C, and the Chairman and CEO did not address this concern.

ANZ Banking Group

Ethinvest clients gave proxies to Australian Conservation Foundation representatives for ANZ's December AGM. They inquired about nature, biodiversity, and climate concerns with the CEO and board, with details in the Market Forces article.

AUB Group

Ethinvest clients empowered activists to attend AUB Group's November 2022 AGM due to concerns about potential links to the Bravus/Adani mine in Queensland. They questioned the CEO and board about climate concerns.

You can read about the result in the Market Forces article here.

Westpac Banking Group

Ethinvest clients granted proxies to Australian Conservation Foundation representatives for Westpac's December AGM. They raised questions about nature, biodiversity, and climate concerns with the CEO and board.

You can read about the result in the Market Forces article here.

National Australia Bank

Ethinvest clients also provided proxies to individuals from the Australian Conservations Foundation so that they could attend National Australia Bank Limited’s Annual General Meeting in December. They asked similar questions around nature and biodiversity, alongside raising their climate concerns directly with the CEO and board.

You can read about the result in the Market Forces article here.

Letters and Direct Communication

Ethinvest regularly corresponds with companies and other entities to request information on ethical concerns.


In June 2023, an Ethinvest client shared concerns with First Sentier Investors about Stewart Investor's investment in CSL. The concerns included CSL's fluctuating blood donor payments in the USA and the use of gambling tactics to drive sales. First Sentier Investors expressed willingness to engage with CSL to address these issues and mitigate potential risks related to changing government regulations, healthcare reforms, collection processes, and product safety.

AUB Group

In March 2023, Market Forces reached out to Ethinvest to organise a couple clients to who hold AUB Group for shareholder activism purposes, to direct email the company on their concerns with their involvement in coal and gas post AGM.

Environment and the Great Barrier Reef and Minister for Science and Youth Affairs

In December 2022, Ethinvest contacted Minister Meaghan Scanlon to advocate for stricter single-use coffee cup regulations. The Queensland Government had already implemented a ban on various plastic items in September 2021 and was actively working on a five-year roadmap to address coffee cups and lids, explore sustainable alternatives, and collaborate with other jurisdictions for future bans.

Kaplan Professional

In September 2022, Ethinvest contacted Kaplan Professional, a prominent Australian professional education provider. They highlighted a concerning ESG-related example promoting online gambling and requested its replacement, along with notifying subject completers of the change.

New Energy Solar

In August 2022, Ethinvest expressed ethical concerns to Evans and Partners regarding NEW Energy Solar staff remuneration during its wind-up. We requested a fee waiver, which Evans and Partners declined, citing their legal entitlement. This matter was discussed in interviews with the Sydney Morning Herald and the Age.

You can find the SMH article here.


In May 2023, Ethinvest contacted Suncorp regarding their sponsorship of V8 Super Care Series Events, specifically the participation of an OnlyFans-sponsored car. Ethinvest raised concerns regarding the impact of pornography and objectification of women. Suncorp, while committed to empowering women and girls, indicated limited influence over the event's sponsor selection.

Partners Group

In March 2023, Ethinvest contacted Partners Group to request an acknowledgment of the country at the beginning of their presentations, which was omitted the previous year. Ethinvest emphasized the importance of showing respect and recognition for the traditional custodians of the land, signaling a step toward building respectful relationships with First Nations people and their culture.

Collective Shout

In November 2022, Ethinvest reviewed Collective Shout's 'Corporate S*xploitation Offenders List' that was posted to their website. Every year, Collective Shout releases an annual list of corporate offenders who objectify women and sexualise girls for profit.

You can find the full list (as well as lists from previous years) here.

BlueScope Steel

In November 2022, Ethinvest contacted BlueScope Steel's CEO about the Blast Furnace #6 project. With cost estimates of $800 million to $1 billion, Ethinvest raised concerns about a carbon-intensive future. They urged BlueScope to adopt low-emission manufacturing to benefit the region and align with sustainability principles. BlueScope's board responded positively, detailing their decarbonization efforts, vision for Port Kembla, and commitment to a net-zero future, advocating clear steel production decarbonization policies to prevent carbon leakage.

Wilson Asset Management

In April 2023, Ethinvest discussed ESG integration with Wilson Asset Management (WMA) regarding Retail Zoo, focusing on Betty's Burgers' supply chain. WMA emphasized their commitment to responsible sourcing, including RSPCA-approved schemes and relevant certifications. Ethinvest encouraged WMA to enhance engagement on animal welfare and sustainability in meat production, to which WMA expressed their willingness to provide updates.


In February 2023, Ethinvest contacted Morningstar, raising concerns about an article promoting "sin" stocks while Morningstar was enhancing its ESG reporting. Morningstar clarified its focus on valuation over values and that the article expressed an opinion based on financial analysis, not an investment recommendation. Ethinvest, however, urged the removal of the article, emphasizing the importance of comprehensive ESG risk analysis.


In November 2022, Ethinvest contacted Calix Limited, an Australian technology company, regarding changes in Federal Government Funding during their Share Purchase Plan offer period. Ethinvest expressed concerns about the impact on Calix's balance sheet, but Calix clarified minimal impact, noting ongoing feasibility phase for co-investment projects.


In September 2022, Ethinvest received BetaShares' newsletter with an article titled "Debunking the myths around nuclear energy." We wrote to a fund manager, expressing concerns given the Ukraine situation and the potential dangers of nuclear material. We emphasized that this article doesn't contribute to credibility amid the shift to renewables.

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