Page 2359 - Week 08 - Wednesday, 29 August 2007
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
In your moralising on the health and nature of humankind in the world, I wonder what degree of self-awareness you have in relation to the most offensive comments you have just addressed to me. The offensiveness of the comments is exacerbated by the fact that, as you know, I responded to concerns raised, by yourself and others, in relation to the application of ESG principles to territory investments. I responded; I initiated a review of the application of environmental, social and governance principles to territory investment practices. It was a review that was handled, essentially at arm’s length, by the Treasury Investment Advisory Board—three leading expert citizens—in relation to investment strategy advice to the ACT government. The secretariat was provided by the Chief Minister’s Department.
As you know, the review has been completed. I am taking advice on that. I have asked my departments, the Chief Minister’s Department and the Treasury, jointly to prepare a cabinet submission. We are all frustrated by delays from time to time. I do not believe these delays are undue. There was some delay in the delivery of the report to the government by the Treasury Investment Advisory Board. The report was received six to seven weeks ago. It is now in circulation throughout the ACT public service, through all my agencies, as a cabinet submission. The issue has been taken seriously. I took it seriously; I initiated a review. I have received the report. I am following appropriate and proper process in seeking input from all my agencies in relation to the ramifications of implementing the recommendations contained within that report.
It was a report on which there was broad consultation. Many organisations were invited to respond; a significant number did. These included the commonwealth Parliamentary Joint Committee on Corporations and Financial Services, Ethical Research, the Association of Superannuation Funds of Australia, the Australian Reward Investment Alliance, Australian Ethical Investments, the Australian Treasury, the Australian Department of Finance and Administration, the Queensland government Treasury, the Victorian government Treasury, the Western Australian government Treasury, the Northern Territory government Treasury, the New South Wales government Treasury, and yourself. Each of those submissions has been given detailed consideration.
The matter is in hand. In the context of the seriousness with which I have treated the issue—I have initiated a review; I am putting the review’s recommendations to my cabinet—to slag off at me as being somebody who refuses to take the issue seriously, and to make throwaway comments that, despite the effort that I have taken and the processes that I have put in place, you have no expectation that anything will change, really begs questions about your seriousness. The fact is that, in the presentation you have just made, you were more interested in grandstanding and petty politics than in the issue.
DR FOSKEY (Molonglo) (4.39): I will use my second speaking period to respond because I want to apologise to the Chief Minister for anything in my speech that he thought was personally offensive. I also say that he will perhaps realise from the things that I have said about these issues that I do see it as really crucially important that one way in which governments should act on the world stage is through their investments, and that is why I have given so much weight to the matter.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .