Page 2812 - Week 07 - Wednesday, 29 June 2011

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are leading the way in terms of governments here in Australia about how we apply those principles to our practices here.

We think that there are some further steps that can be taken, particularly around the possibilities for negative screening of particular investment types. That is one that the government is currently considering at the moment. In respect of those individual resolutions, I think the Greens, with all due respect, have oversimplified the issues around how those are dealt with.

I am happy to take some further advice on whether there are genuinely things that we can do as a government, as a very small shareholder at those meetings, to promote the values that are contained in our Human Rights Act. But the advice back to me from Treasury is that it is not as simple as that. However, I accept that there is more work to be done.

MS LE COUTEUR: A supplementary, Mr Speaker.

MR SPEAKER: Yes, Ms Le Couteur.

MS LE COUTEUR: Treasurer, could you explain why the government voted against ExxonMobil adopting quantitative goals for the reduction of greenhouse gas emissions in the company’s operations, and what does this say about the ACT government’s commitment to our own greenhouse gas reduction target?

MS GALLAGHER: I do not think that is an accurate reflection of what actually occurred.

Mr Smyth interjecting—

MS GALLAGHER: That is my understanding about the capacity for the ACT government as a minority shareholder to influence particular votes that are taken at these meetings. We have to accept that we are an extremely small player in a larger pond, and the influence that we are able to exercise in relation to these particular resolutions is small. I note Mr Smyth interjecting there, after opposing the legislation that the Greens have presented to this place to screen particular investment types, which is exactly the flow-on effect of what the Greens are asking for us to do in these resolutions.

MS BRESNAN: Supplementary?

MR SPEAKER: Yes, Ms Bresnan.

MS BRESNAN: Thank you, Mr Speaker. Minister, why did the government not support a motion put to Honeywell corporation, who manufacture cluster bombs, to include a human rights policy in their company’s code of business conduct?

MS GALLAGHER: Again, the executive does not take these decisions; the ACT government’s investment managers do. The review that has been done and the principles for signing up to the principles for responsible investment have shown that

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