Capitalism isn’t a good deal for all Australians, and it’s time to tweak the system, a funds analyst running for the Greens in the Sydney seat of Bennelong has said.
Mr Adams, who is responsible for Lonsec’s sustainability reporting framework and ESG assessment of funds, will continue to work for Lonsec throughout his campaign.A Lonsec spokesman said Mr Adams’s views and candidacy are “personal” and he is not acting as a representative of the firm. “It’s almost like companies are trying to get there and consumers clearly care, but there’s no support, guidance or leadership,” he said.Without a clear framework on how Australia will decarbonise, Mr Adams believes the corporate sector faces the risk of a rapid, expensive and unwieldy transition when the world reaches crisis levels of heating and pollution.
“Nobody wants to pay more taxes, everybody gets that, but there is certainly a push particularly from an ESG perspective around people paying their fair share of tax – multinational corporations and mega-companies,” Mr Adams. He said those companies will eventually lose their licence to operate, leaving shareholders, the Australian public and the environment carrying the cost.