Thorburnâs For Purpose to raise a $250m fund to invest in aged care
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Former NAB CEO Andrew Thorburn has a plan to revolutionise investment in social services under a new model that puts bank-like rigour around public spending. It promises to lift standards in the aged care, disability and social housing sectors while delivering infrastructure-like returns to investors.
The funding of social services was in the spotlight this week, as the federal budget unveiled $17.7 billion in aged care spending over four years and Labor pledged $10 billion to social housing as the centrepiece of its budget reply on Thursday night.
Coal miner warns Asian lenders wonât fill the void if local banks exit
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Asian lendersâ support for Australian coal miners could dry up if local banks are not willing to participate in lending syndicates, according to the NSW coal miner that narrowly avoided a debt default last year.
Centennial Coal supplies the feedstock for 30 per cent of NSWâs coal-fired electricity but said the next six months would be a âsensitive timeâ for the company as it raced to refinance debt maturities at a time when Australian banks were increasingly reluctant to lend to fossil-fuel producers.
Banks are increasingly reluctant to lend to coal miners.Â
Investing for good - the new moves to take the nasties out of your KiwiSaver
30 Apr, 2021 05:32 AM
15 minutes to read
Fossil fuel investments must be excluded under the new default KiwiSaver provider appointments. Photo / File
Five years ago, KiwiSaver investors were shocked to find their retirement savings were propping up companies involved in cluster bombs, landmines and tobacco. Fund managers pulled out of the investments, black-listing a range of companies in those sectors and building exclusion lists to make sure they kept onside with members.
Now a new group of exclusions are set to be added to the list of companies that KiwiSaver providers will either have to avoid, or make an active decision to include or exclude.
In May 2019, Adani Ports entered into an agreement to construct, operate and transfer land held by the Myanmar Economic Corporation (MEC) military conglomerate for 50 years in an investment valued at US$290 million. Such corporate conduct has broader implications. Investing in Adani is not only environmentally unsound but imperilling of human rights.. By Binoy Kampmark
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