Friday, August 26, 2005

Anglican Church Says Yes to Uranium Investments

From today's International Herald Tribune:

The Anglican Church's investment fund in Australia has decided that nuclear power is not so bad after all.

Glebe Asset Management, a large so-called ethical investment fund in Australia, removed its ban on buying uranium mining shares after a three-month review, the director, David Andrews, said in an interview last week.

The company decided to scrap the uranium restriction after BHP Billiton in June bought WMC Resources, which owns the largest deposit of the nuclear fuel.

(snip)

"We added it all together and thought that we really should not have uranium mining as a strict" prohibition, said Andrews, who otherwise would have had to sell BHP shares that account for about 10 million dollars of the 500 million dollar fund.
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1 comment:

L. Alan Smith said...

This is a wise decision. Kudos to the Anglican Church and hopefully environmental investment funds will follow this move.

Note this coal ash problem...

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh23281_2005-08-26_13-57-07_sp25881_newsml