In sustainable investing, there are many opportunities to make a difference, such as the campaign aimed at protecting the endangered Maugean Skate, a unique marine species threatened by industrial salmon farming practices in Macquarie Harbour, Tasmania. As investors and financial advisers, we find ourselves at a critical juncture where our actions can significantly influence corporate behaviour and environmental stewardship. This initiative not only highlights the pivotal role investors can play in wildlife conservation but also introduces an innovative platform for sustainable investment: the SIX Sustainable Investment Exchange.

The urgent need for action

The "Save the Skate" campaign focuses on persuading Australia's leading supermarket giants, Woolworths Group Ltd (ASX:WOW) and Coles Group Ltd (ASX:COL), to reassess their salmon sourcing policies. Scientific evidence indicates that the salmon farms in Macquarie Harbour are depleting oxygen levels in the water, creating uninhabitable conditions for the Maugean Skate. This ancient species, discovered only in 1988, faces extinction, with its population dwindling to less than a thousand. The campaign underscores the supermarkets' capacity to influence the fate of the Maugean Skate by choosing not to source farmed salmon from these harmful operations. 

_{Source: SIX Sustainable Investment Exchange "Save the Skate" Campaign}

At Ethical Invest Group, we are committed to leveraging our influence for positive environmental change. In alignment with our values and the urgent need to protect endangered species, we have proudly signed the open letter to Woolworths and Coles as part of the "Save the Skate" campaign. This letter urges these major supermarket chains to reconsider their salmon sourcing practices, which currently pose a threat to the survival of the Maugean Skate. By taking this step, we join a community of concerned investors and environmental advocates striving to ensure that corporate actions reflect a commitment to sustainability and responsible resource management. We encourage other organisations and individuals to participate and help amplify this important cause.

How investors and advisers can make a difference

For ethical investors and financial advisers, this campaign represents a unique opportunity to engage with companies like Woolworths and Coles on a matter of significant environmental concern. Advisers can play a crucial role by informing their clients about the campaign, especially those who are pescetarian, passionate about wildlife conservation, or hold shares in the targeted supermarkets either directly or through managed funds.

“By voicing concerns to the sustainable seafood procurement teams at Coles and Woolworths, we hope to save the Skate from extinction. Shoppers rightfully expect responsibly farmed salmon when purchasing from these retailers, and there's a significant risk of greenwashing if conditions in Macquarie Harbour aren't improved. Ethical advisers understand our clients' concerns and recognise that collective action, alongside other shareholders, can drive positive change for corporate sustainability and wildlife conservation."

- Karen McLeod, Ethical Investment Advisers

The involvement in the campaign is not limited to shareholders. Interested parties can participate through various avenues, including signing open letters and advocating for sustainable seafood procurement practices. The campaign is led by seasoned activists and co-creators of the SIX Sustainable Investment Exchange, a new platform that facilitates share trading with a focus on shareholder advocacy for sustainability.

SIX Sustainable Investment Exchange: a new horizon for ethical investing

The SIX Sustainable Investment Exchange has emerged as a revolutionary platform in ethical investment. Co-founded by individuals with a rich history in sustainable investment and activism, SIX offers investors the ability to trade shares while actively engaging in shareholder advocacy. The "Save the Skate" campaign is just one of several activist investing campaigns on the SIX platform, including a push to end gambling ads and using shareholder power to reduce deforestation. These campaigns are providing a concrete avenue for investors to support environmental and corporate governance issues directly.

“SIX is the trading platform that unites shareholders to push big companies to go green, reduce inequality and be better for workers.
Business as usual is over.”

- SIX Sustainable Investment Exchange

A call to action

Financial advisers are encouraged to discuss this campaign with their clients, highlighting the importance of wildlife preservation and ethical investment practices. By leveraging the power of collective action, investors can influence major retailers to adopt more sustainable practices, thereby contributing to the conservation of endangered species like the Maugean Skate.

“Ethical Investment Advisers are rallying behind the Save the Skate campaign, which aims to address the environmental threat posed by salmon farming in Macquarie Harbour, Tasmania. We encourage our clients to get involved by becoming shareholders in companies like Woolworths and Coles, or by engaging with fund managers who hold shares on their behalf in these companies.”

- Karen McLeod, Ethical Investment Advisers

The "Save the Skate" campaign is more than just a call for sustainable seafood procurement; it's a testament to the power of ethical and sustainable investing and the significant impact it can have on environmental conservation. As members of the investing community, we have a responsibility to leverage our influence for the greater good, advocating for practices that ensure the survival of our planet's irreplaceable species. The SIX Sustainable Investment Exchange stands as a beacon for this new wave of investing, one that prioritises the health of our environment and the ethical considerations of our financial decisions.

“While the first big wave of ethical and ESG investing saw big inflows into ethical and ESG funds, the next big wave is ethical investors taking back the power of their money.”

- Adam Verwey, Founder and CEO of SIX

How investors and advisers can support the "Save the Skate" Campaign

1. Educate yourself and your clients: Start by understanding the critical issues facing the Maugean Skate and the impact of salmon farming in Macquarie Harbour. Utilise the resources provided by campaigns and organisations like SIX to inform your discussions.
2. Sign the open letter: Participate in the campaign by signing the open letter to Woolworths and Coles, urging them to stop sourcing farmed salmon from areas that threaten the survival of the Maugean Skate. This step is open to everyone, including those without shares in the supermarkets. Visit SIX's campaign page to sign the letter.
3. Engage in shareholder advocacy: If you or your clients hold shares in Woolworths or Coles, either directly or through managed funds, use your position as shareholders to voice concerns. This can involve direct communication with the companies, participating in shareholder meetings, or collaborating with platforms like SIX that facilitate shareholder advocacy.
4. Spread the word: Increase the campaign's impact by encouraging others to participate. This can be done through social media, community engagement, and discussions with other investors and advisers. Even if you only have a few seconds, you can engage with and/or share SIX’s social media posts on LinkedIn, Facebook, and Instagram.
5. Join or promote sustainable investment platforms: Explore new investment platforms like SIX Sustainable Investment Exchange, which offer the opportunity to trade shares (coming soon) and engage in shareholder advocacy focused on sustainability. These platforms can amplify your impact on corporate practices and environmental stewardship.
6. Monitor the impact: Stay informed about the campaign's progress and the response from Woolworths, Coles, and the broader investment community. Adjust your advocacy strategies as needed to continue making a difference.

Together, we can make a difference. Let's support the "Save the Skate" campaign and embrace the principles of sustainable investment to create a more ethical and environmentally sound future.

Want to learn more about the impactful role of shareholder advocacy? 

Advisers: Sustainable Investment Advice is an online course for Australian and Aotearoa New Zealand financial advisers that combines comprehensive education with tangible assets to help you implement values-based advice simply and efficiently. You will learn about ESG, sustainable investing, how to incorporate values in your client fact-finding process, and the steps to match investments with your client’s ethical preferences. Plus, there’s an entire module dedicated to corporate engagement, so you will be prepared to actively support your clients in shareholder advocacy.

Investors: Sustainable Investor Toolkit is an online course for individuals to learn more about sustainable investment options, and how environmental and social issues can be addressed in money and finance. Join the waitlist to be first to find out when doors open later this year.

Disclaimer:
This information is issued by Ethical Invest Group (EIG) (ABN 29 238 432 149) in relation to the trend toward sustainability in financial advice.
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