Tasmanian Times

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In search of sustainability

13.04.06 11:08 pm

JOHN McFARLANE:

What I would like to challenge you with is the idea that in today’s world it is a combination of science and spirituality which will help give us the strategic intelligence to ask the right questions, and create a more sustainable future for our business and society.

Speech, In Search of Sustainability by ANZ CEO John McFarlane to a Trans-Tasman Business Circle luncheon in Wellington, New Zealand, Tuesday.

Download PDF here: JMcF_Trans-Tasman_Business_Circle_April_2006.pdf

Politics | Economy | Society | Saul Eslake

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Comments (5)

Some questions to the ANZ Bank:

Are large ‘forest’ companies in Tasmania, those engaged in clearfelling native forest and planting environmentally unsustainable monocultures, are they some of the ANZ’s biggest customers?

Did Gunns Ltd secure a 2.2 billion dollar loan from the ANZ to acquire North Forests Products?
http://www.directorytasmania.com/pgm.html

Does CEO John McFarlane have a salary of over $4 million a year?

How can the payment of such huge executive salaries, bonuses and stock options be reconciled with objectives of social sustainability?

Is the largest PNG customer of the ANZ Bank the Malaysian Rimbunan Hijau group. And is this group involved in illegal activities and human rights abuses?

Has the ANZ donated large amounts of money to pro-‘forestry’ political parties such as the Labor and Liberal Parties in Australia?
http://www.democracywatch.com.au/donations.html

What ethical investment policies does the ANZ bank have?

Posted by Jack on 15/04/06 at 05:16 AM
Jack!!

These are very sharp questions!

I like it.

Would be good to get fair dinkum reply and straight answers from the man in question.

Keep up the good thoughts mate

Just Frank

Posted by Just Frank on 15/04/06 at 12:02 PM
Given North Forest was sold to Gunns for about $350M, Jack and Frank should either be asking:

1. What did Gunns do with the other $1.85 billion (plenty of conspiracy theories to be manufactured out of that!); or

2. Have we got it wrong again and fallen into the Brenda Rosser trap of quoting links to dubious sources.

If they complain about MacFarlane’s $4M salary, I hope they are equally concerned about the Wiggles reported $50M last year.

Posted by peewee on 15/04/06 at 11:58 PM
Just to show Jack and Frank what a credible source looks like the following announcement by Rio Tinto to the Australian Stock Exchange on 29 May 2001 is provided:

RIO TINTO LIMITED 2001-05-29 ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
Rio Tinto completed the sale of North Forest Products to Gunns
Limited for A$335 million cash on 29 May 2001.

Rio Tinto acquired North Forest Products through its acquisition of
North Limited in 2000.

I L Falconer
COMPANY SECRETARY

Posted by peewee on 16/04/06 at 12:05 AM
Have you ever seen John MacFarlane in a skivvy?

Posted by Justa Bloke on 18/04/06 at 01:22 AM