“Recent reaction by irrigators to the release of a guide to water management by the Murray Darling Basin Authority shows how important water is to our economy and way of life,” said Christian Super CEO, Peter Murphy.
“Water and its sustainability is something Christian Super is also concerned about, so much so, that we have developed a water stewardship policy for our investments,” Mr Murphy said.
“Around the world we see a huge disparity in personal water usage with some statistics showing Australians using up to 480 litres per day per person, compared to just nine litres for someone in Somalia or Mozambique,” he added.
“With pollution and climate change threatening to further the scarcity of this resource we recognised that as an ethical, Christian investor we needed to take action and ensure that our investment policies addressed the issue,” Mr Murphy said.
“Though there is little direct relation between the metaphorical significance of water in the Bible and our modern day water scarcity, there is still a Biblical attitude towards this resource that needs to be brought into view,” he added.
Christian Super has invested in the Macquarie Clean Technology Fund that promotes the development of renewable energy. The fund invests in water technologies, including water recycling.
“By investing in this fund, we’re not only promoting change that moves towards good water stewardship, it also positions us to benefit as a fund should the problem of water scarcity continue to grow,” Mr Murphy said.
Christian Super has also considered its investment in the bottled water industry but has decided at this stage, not to withdraw funds.
“Our research shows that as Christians this is an issue that we should consider more seriously. In the United States the oil used in the production of bottled water per year could power 100,000 cars. This statistic alone should cause us to rethink our assumptions about bottled water,” said Mr Murphy.
Christian Super’s policy of ethical investment is overseen by an Ethics Committee and is the subject of regular board reviews.
For more information, visit the Christian Super web site: www.christiansuper.com.au
Business
Water management – Super fund seeks Biblical guidance
Christian Super
Wednesday, 27 October 2010, 7:50 (EST)
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