The Ethical and Sustainable Business Awards
The Ethical and Sustainable Business Awards 2024 from Money Matters and Catalyst Leadership marks the occasion of 25 years since New Zealand’s first ethical and sustainable business awards were created by Dr Rodger Spiller. The 2024 awards honour eight companies—three from New Zealand and five international—recognised for their ethical and sustainable practices in wealth and wellbeing creation. Nominated by leading fund managers, these exemplars of catalyst leadership have achieved substantial social, environmental and financial impacts. They demonstrate phenomenal transformation, showing how businesses can make good money and a positive difference. Congratulations, and thank you to our winners for proving how ethical money matters for a sustainable future.
In 1992, Rodger established New Zealand’s first managed fund awards. He created New Zealand’s first ethical and sustainable business awards in 1999. Meanwhile he was recognised as inaugural Good Returns Financial Planner of the Year in 1999, highlighting his expertise as New Zealand’s foremost adviser. He was also awarded as inaugural Mindful Money Best Ethical Adviser in 2022. So, Rodger is no stranger to awards!
In subsequent years, the judges for both of these awards decided to recognise other advisers in order to promote a diverse range of talent in the industry, rather than continuing to award Rodger given his already high profile and clear leadership. Although Rodger is therefore no longer entering these awards, he and his firm, Money Matters, remain widely regarded as New Zealand's foremost ethical investment adviser. This recognition reflects his unparalleled experience and education, as well as his ongoing commitment to leadership through Money Matters.
Metamorphosis: Stages in a Life
One of the founders of modern-day ethics is Aristotle, whose virtue ethics have inspired countless individuals and organisations to aim higher. Over 2,000 years ago, Aristotle encouraged the pursuit of ‘Ethical Excellence’ and ‘Doing Well and Doing Good’. In contrast, he used the term ‘parasite’ to describe those whose activities did not contribute to society.
Furthering that metaphor in his book ‘Metamorphosis: Stages in a Life’, environmental scientist David Suzuki observed that many humans remain parasites, growing larger “without an accompanying evolution in wisdom, sensitivity or compassion”. Suzuki challenges us all to go through metamorphosis and fly - performing the mission for which we are genetically designed.
In his groundbreaking book ‘Ethics and Excellence’, renowned business ethics scholar (and mentor to Rodger in his PhD) Professor Robert Solomon wrote:
“Except when under severe threat, we think too lazily of our large corporations … We have to learn again to think of business as a grand experiment, which has been carried out in earnest for only a few hundred years, and whether or not the experiment works will depend on whether it does indeed encourage excellence and inspire virtue in its practitioners, or only fosters a mad scramble for survival and quick profits.”
Inspired by these and many other deep thinkers, Rodger’s PhD published 25 years ago was a catalyst for metamorphosis. It put all the pieces of the socially and environmentally responsible company together in a cohesive whole. His article ‘Ethical Business and Investment: A Model for Business and Society’ answered the two key questions that lie at the heart of the challenge for business ethics: Is it possible for business and investors to do well while doing good; and if so, how can this be achieved? That research continues to be widely cited internationally and has guided Money Matters leadership ever since.
The funds recommended by Money Matters are constantly judging the environmental, social and financial performance of business. Indeed, the investments they make could be seen as awards in their own way, as businesses meet (or do not meet) a rigorous set of investment criteria.
The Ethical and Sustainable Business Awards are another way to recognise and elevate business practices that are achieving exceptional impacts in New Zealand and around the world. The winning businesses demonstrate the approach advocated by Money Matters led by Dr Rodger Spiller, and Catalyst Leadership Development led by Professor Chellie Spiller.
The awards provide rich insights for investors, other businesses, students and other stakeholders. We plan to add more information to the website about the winners.
The fund managers making the nominations have requested to remain anonymous. Funds they offer are used by Money Matters clients.
The awards shine a spotlight on ‘Ethical Excellence’ through the essential perspective of ethical investment. Back in the 1990s, the ethical business and investment perspective was not widely understood by business leaders. Indeed, when the New Zealand award was first announced at the 1999 award ceremony attended by over 700 businesspeople, it was greeted by howls of laughter and many comments about ‘business ethics’ being an oxymoron. Over the years, the award became increasingly sought after, reflecting the greater focus on business ethics, sustainability and good governance.
The awards, the first of their kind in New Zealand, shone the spotlight on ethical and sustainable investment and business and yielded a rich harvest of case studies. These stories appeared on television, in print and a wide range of other media. They were also used in Rodger’s engagement with businesses and fund managers, and his ‘ethical leadership’ courses offered via universities for NZ businesses leaders.
A quarter of a century on, we expect relatively few investors and businesspeople to laugh at the announcement of these awards for ethical and sustainable business. Indeed, many might be wondering why their public relations teams didn’t enter. However, these awards are different – no nominations were accepted from listed companies or their PR teams! So, no entry fees, no sponsors and none of the usual conflicts of interest. The PR teams are welcome – but have had to wait until after the awards were announced.
Money Matters clients invest in ethical and sustainable funds offered by leading fund managers locally and globally. Rodger asked some of these fund managers to identify from their funds which companies they considered to be the best examples of ethical and sustainable business.
The value of this type of awards initiative was understood by renowned investor Warren Buffet who provided advice to The Business Enterprise Trust, a USA group founded in 1989. Each year the Trust honoured awardees, and the resulting stories yielded a “deeper appreciation of what people can truly achieve in business” and a book titled ‘Aiming Higher’. Rodger was inspired by the USA example and included it in his PhD research. We thank The Business Enterprise Trust for their leadership and example.
The 2024 Winners
Infineon Technologies
Infineon Technologies is a titan in the realm of power management semiconductors. Based in Germany, originating from Siemens, and now standing with a market capitalisation of $48 billion, Infineon leads the way in energy-efficient solutions for data centres, smart buildings and electric vehicles. Their innovative technology optimises energy usage in electric vehicle drivetrains and charging systems, significantly reducing emissions. Beyond products, Infineon’s strategic partnerships with academia and startups foster a culture of innovation aimed at global decarbonisation. Their commitment to sustainability is deeply integrated into their business operations, making Infineon a true leader in ethical technology development.
Edwards Lifesciences
Edwards Lifesciences is a pioneer in cardiovascular disease treatment with a market capitalisation of $52 billion. USA based and founded by Miles Edwards in 1958, this company revolutionised heart health by developing the world's first artificial heart. Today, they lead in crafting heart valves that drastically improve patient outcomes. Investing 18% of their 2022 sales into research and development, Edwards Lifesciences is committed to innovation that saves lives and enhances quality of life across the globe. Their ethos and actions resonate deeply with the values of ethical and sustainable investment.
ANDRITZ
From Austria, ANDRITZ is a trailblazer in engineering eco-efficient solutions. This company's expertise spans advanced recycling systems and hydroelectric power infrastructure, key in diminishing environmental impacts and promoting sustainable industry practices. Notably, their cutting-edge hydroelectric technologies play a crucial role in enhancing renewable energy capabilities, crucial for reducing carbon footprints globally. ANDRITZ's dedication to innovative climate technology cements their status as an exemplar of corporate responsibility, adeptly tackling today's environmental challenges.
Shimadzu
Shimadzu is Japan's premier analytical and measuring instruments company. Their commitment to advancing human health and securing environmental sustainability is evident through their comprehensive range of products. From medical systems that aid in early disease detection to analytical instruments crucial for environmental conservation, Shimadzu’s efforts align with the Sustainable Development Goals (SDGs). Established in 2021, their Sustainability Charter underscores a dual commitment to societal well-being and rigorous corporate governance, guiding their global operations. Additionally, Shimadzu has received recognition for their sustainability efforts, including being named an Eco-First Company by the Japanese Minister of the Environment.
Voltronic Power
Voltronic Power from Taiwan is a leading manufacturer ensuring uninterrupted power supply. Their devices are vital for data centres, healthcare facilities and critical infrastructure, supporting continuity even in the most challenging conditions. Voltronic's dedication to producing durable, reliable and environmentally conscious products helps facilitate the broader adoption of renewable energy, underscoring their role in sustainable industrial practices.
Infratil
From New Zealand, Infratil is a diversified infrastructure investment company with a robust focus on sustainability. Their proactive engagement with sustainability has led to significant improvements in disclosure and internal processes across their portfolio companies. Infratil's early adoption of voluntary climate disclosures and the validation of their science-based targets by the Science Based Targets initiative (SBTi) set them apart as leaders. Their participation in the Climate Leaders Coalition further demonstrates their commitment to global environmental goals.
Summerset
Based in New Zealand, Summerset is an exemplary leader in the retirement village sector. Their commitment to sustainability and ethical business practices is validated by multiple awards and recognitions, including their recent accolade from the Australian Financial Review's Sustainability Leaders List. Summerset not only provides exceptional care but also champions inclusive and supportive workplace practices, significantly contributing to the social fabric of the communities they serve.
Fisher & Paykel Healthcare
Based in New Zealand, Fisher & Paykel Healthcare is a pioneer in healthcare technology and sustainable innovation. Renowned for its state-of-the-art medical devices and systems, Fisher & Paykel Healthcare enhances patient care worldwide through products like respiratory humidifiers and sleep apnea machines. Their commitment to sustainability is evident in their eco-friendly manufacturing processes and efforts to reduce energy use and waste across all operations. Fisher & Paykel Healthcare’s approach not only improves healthcare outcomes but also sets industry standards for environmental responsibility. Their dedication to developing medical solutions that are both effective and sustainable makes them a standout in the healthcare sector and for ethical investors.
Conclusion
As we reflect on the Purpose, Principles, Practices and Performance Measurement (the Four Ps of Rodger’s PhD model) of these remarkable companies, we are reminded of the transformative power of ethical and sustainable investments. These winning businesses don't just drive industry innovation; they redefine the parameters of what it means to be a leading ethical and sustainable business in today’s global economy. Congratulations to all our awardees. Your efforts inspire a brighter, more sustainable future.
The Four P’s model
Created by Rodger as part of his PhD, the ‘Four P’s’ model is based on extensive global research, and backed by both theory and practice. Acting as an ‘ethical scorecard’, on its creation in 1993 it was heralded as a new approach to investment and business. It was used within New Zealand’s first ethical investment fund and has been widely taught to businesses and fund managers. In the years since, the concepts involved have increasingly been adopted by the mainstream, albeit with many companies and fund managers using them as PR and greenwash. Rodger works to sort the leaders from the laggards. Our focus is on investing with the true leaders who demonstrably walk the talk and meet investor expectations at the various levels of impact.
The companies in Money Matters’ highest impact portfolios are those most likely to rate highest on the Four P’s ethical scorecard.
The Ethical and Sustainable Business Humour Awards 2024
In 2024 a new award for Humour was added to The Ethical and Sustainable Business Awards. Created by Money Matters and Catalyst Leadership with 2be. The humour awards recognise a New Zealand winner and an international winner for bringing more light to the very serious matter of helping make sure money matters.
Founded by Lisa Brickell, 2be helps business leaders to be more authentic, to be more engaging and to be more inspiring. Lisa is a physical communication and comedy coach who has taught and performed all around the world. Lisa’s qualifications include an MA in Drama from The University of Auckland and a Diploma in Theatre from the Le Coq school, Paris. Rodger has studied and taught with Lisa.
Exploring the ‘lighter’ side of life has always been important for Rodger. As reflected in the Ethical and Sustainable Business awards Rodger advocates for a world where business is both a source of joy and a force for good. This involves business adopting an approach that is longer, wider, deeper and lighter than ‘business as usual’:
Longer Term: Looking beyond the immediate horizon to foster sustainable success that aims to benefit generations.
Wider Impact: Embracing all stakeholders, crafting a holistic approach to business that benefits shareholders, employees, customers, suppliers, the community and the environment.
Deeper Understanding: Delving into the essence of leadership through ‘Inner Development’ of business leaders to grow collective applied wisdom.
Lighter Touch: Encouraging more joy, levity and laughter, promoting a healthier, less stressful approach to business and life.
Rodger has written blogs making the business case for looking on the light side and explaining how this can be done such as ‘Walk on Your Wild Side Day’ and ‘Time for a Humour Audit? Good Humour Creates Wealth and Wellbeing’.
The Ethical and Sustainable Business Humour Awards recognise that laughter and lightness is often the best medicine. For example, research from the Bell Leadership Institute of 2,700 employees in various workplace settings over two years found that humour is highly regarded. When asked to describe the strengths and weaknesses of senior colleagues in their organisations, “sense of humour” and “work ethic” were mentioned twice as much as any other phrases. People are used to associating laughter with the best medicine, but they are often surprised that “sense of humour” is the phrase most frequently associated with the best leaders. Leaders rated most highly are those who have fun and work hard to get the job done.
Describing work as “often a humourless endeavour”, The Harvard Business Review highlights that whether we are earnestly attempting to solve big problems (and solving the world’s environmental and social problems certainly qualify as “big”) and/or striving for good financial returns, lightness and laughter often seem out of place. But levity can actually help us achieve those serious goals”.
And a large-scale Norwegian study conducted over 15 years found that people with a sense of humour have a much better chance of survival if severe disease strikes them. They also live five to eight years longer on average.
Money Matters encourages fund managers to ask the leaders of each company they are considering investing in: How is your company investing in developing the ‘lighter’ side of business? What specifically is your company doing to make business more fun.
New Zealand Winner:
Circability
This award recognises and celebrates the phenomenal transformational impact that Circability offers to businesses by bringing more joy, humour and lightness to help business and society thrive. We hope that this award helps promote Circability’s awesome work with business, young people, older adults, people with disabilities, whanau and communities. We encourage all businesses to invest in Circability’s transformational leadership development offerings.
Congratulations to all the Circability team and stakeholders and a heartfelt thank you for your shining example inspiring a brighter future for all.
Circability creates social good through innovative social circus programmes. Since Circability was founded in 2012, they have been creating positive social change by bringing joy to young people, older adults, people with disabilities, whānau, communities and businesses.
While many circus schools focus solely on performance, Circability are unique. They facilitate a broad Social Circus programme ranging from supporting youth to leadership development in business.
Last year, over 10,874 people attended Circability’s 863 classes, workshops and community events. This year, they have expanded their reach to less serviced and isolated communities in response to the increased demand for their Social Circus programme.
When a business is ready to take their team to the next level, Circability are there to make it easier, by providing leadership development to help them thrive. Whether it’s a one-off workshop to break the ice and set the foundations of a resilient and effective team, or a continual process to embed these crucial skills into a team’s culture, Circability can help.
We hope that this award helps promote Circability’s awesome work.
International Winner:
Make My Money Matter
This award recognises and celebrates the phenomenal impact of Make My Money Matter. By working to transform the financial system to put people and planet on a par with profit, they have shown why and how money should be moved from the destructive, harmful investments of the past into those which help build a future we can be proud of. Through brilliant use of humour in transformative communications and campaigning, they bring light to a very serious matter – how to make money matter! Congratulations to the Make My Money Matter team and stakeholders and a heartfelt thank you for inspiring a brighter future for all.
Make My Money Matter are a UK-based charity. Launched in 2020, they highlight that £3,000 per UK pension is invested in fossil fuel companies and £2 in every £10 saved into pensions is linked to deforestation. They maintain that 85% of UK pension providers have inadequate or poor climate plans and two thirds of UK pension providers don’t have a policy on deforestation. Research undertaken in association with Make My Money Matter concluded that “moving the national average pension wealth to the sustainable fund used in the calculation is 21 times more effective (respectively) than the combined annual carbon savings of switching to a renewable electricity provider, substituting all air travel with rail travel and adopting a vegetarian diet”.
The Make My Money Matters videos are remarkable for combining humour with calls to action. For example, Oblivian stars Olivia Coleman speaking on behalf of the fossil fuel industries offering “a huge thank you for all your support”.
Make My Money Matter states:
We’re creating a world where everyone can be proud of their money, and we all have a role to play.
Individuals: We want everyone to be proud of what their money is doing – help us make sure our banks and pension funds are building a better world.
Organisations: We believe every organisation, from businesses to universities to NGOs, should align their money with their values.
Financial Sector: Banks and pension funds must stop financing the climate crisis.
Make My Money Matter is committed to supercharging the power of our money, helping people unlock the trillions saved in retirement funds to build a just, sustainable future we’d all want to retire into. They highlight that achieving the 17 Sustainable Development Goals (SDGs) has the power to create a better world by 2030, by ending poverty, fighting inequality and addressing the urgency of climate change.