Religious group says it can no longer support investment and lending practises lacking ‘clear ethical policies’

This article is more than 5 years old

This article is more than 5 years old

The Quakers are pulling their funds from Australia’s big four banks, saying they can no longer support investment and lending practises lacking “clear ethical policies”.



The religious group says it will remove all corporate funds from the four major banks – and also Macquarie and St George – and they are calling on others to do the same.



Presiding clerk Julian Robertson said the group had for years avoided direct investment in alcohol, tobacco, military weapons, uranium and other mining industries.



“We also have a problem with the investment policies of the larger banks in Australia, where our money is being used for financing some of these companies.



“We are particularly worried about carbon-intensive industries and some others which do not have the ethical standards that we would like,” he said.