Top ASX companies publicly back yes campaign in Voice referendum
Most of Australia’s biggest listed companies have picked a side in the upcoming voice referendum, with many stumping up millions of dollars in donations. Here’s where the top 20 stand.
The nation’s largest listed companies have overwhelmingly thrown their weight, and millions of dollars in support, behind the Yes campaign supporting an Aboriginal and Torres Strait Islander Voice to Parliament, with no publicly-listed companies appearing to be on the record in opposition to the proposed constitutional changes.
To date, 13 of the top ASX-listed companies have come out in support of the Voice, with BHP, Rio Tinto and Wesfarmers all kicking in $2m each to back the Yes campaign
Visy Industries executive chairman Anthony Pratt also donated $1m to the yes campaign while Qantas is providing free travel to members of the Yes23 campaign group, and tech firm Atlassian has pledged to match donations by its employees.
And in April a group of philanthropic entities, individuals and family offices announced they had poured $17m into the Yes campaign, led by a $5m contribution from the Paul Ramsay Foundation, which pledged the money to the non-profit Australians for Indigenous Constitutional Recognition.
That body – the registered charity collecting funds to be funnelled into the Yes campaign – has a high-powered board including globally influential lobbyist Mark Textor, Wesfarmers chairman Michael Chaney and prominent Indigenous campaigner Noel Pearson.
It’s not all one-way traffic however with executives from companies including Gina Rinehart’s Hancock Agriculture expressing the view that companies should steer clear of getting involved in the debate.
Adam Giles, the Northern Territory’s former chief minister and now chief executive of the mining magnate’s agriculture assets, told The Australian last month the company preferred to “stay in our lane’’.
“We grow cattle. We grow beef. We talk to the consumer. None of our business happens in the political world, and I don’t think we should,’’ he said.
Mr Giles also suggested that spending shareholder money advocating on political matters could pose a risk to companies.
“I see a little bit of commentary about whether shareholders might have some sort of class action against companies, and I think they have every right to,” he said.
“It’d be interesting to see that tested. But if you’re spending two or three million dollars of shareholders’ money and profits on a political campaign which is only one side of a story, I don’t think that’s the best use of shareholders’ funds.”
Sam Kennard, chief executive at Kennards Self Storage – who is also a director of the conservative think tank the Centre for Independent Studies – has also been a vocal critic of the Voice.
Vitamin mogul Marcus Blackmore came out early in opposition to the Voice, backing Northern Territory senator Jacinta Price and saying he had failed to be convinced by arguments put forward by Prime Minister Anthony Albanese and others.
The listed company Blackmores pointed out at the time that Mr Blackmore had not worked at or been a director at the company for more than two years, and the company’s position which it currently holds is that the referendum vote is a matter for individual employees to make up their minds on.
Among the large companies that have not expressed a view either way, CSL and Santos are also encouraging their employees to vote as they see fit.
The Business Council of Australia, whose members include the top listed firms as well as large private and international companies such as Boeing, Cisco and the big four accounting firms, has come out in support of the Voice, as has the Minerals Council of Australia.
TOP ASX YES SUPPORTERS
Qantas
The national carrier on August 14 confirmed their support for the Yes campaign ahead of the upcoming referendum and unveiled special livery on three Qantas Group aircraft.
The livery features the Yes23 campaign logo on a Qantas Boeing 737, a QantasLink Dash 8 Turboprop and a Jetstar Airbus A320.
Chief executive Alan Joyce said in the statement support for an Indigenous Voice to Parliament continued Qantas’ long commitment to reconciliation and, more broadly, the notion of a ‘fair go’.
“We’re supporting the Yes23 campaign because we believe a formal voice to the government will help close the gap for First Nations people in important areas like health, education and employment,” he said.
“Like our Flying Art livery aircraft showcasing First Nations culture to a global audience, these aircraft will send a message of support for a Yes vote as they travel the country”.
BHP
Mining giant BHP revealed their support for the Yes campaign after donating $2m to the referendum in June.
The donation came after releasing the latest update to its reconciliation action plan, which reiterates BHP’s ongoing support for a yes vote at the referendum and promises to “connect our workforce to information about a Voice and the matters it is seeking to address.”
BHP President Minerals Australia Geraldine Slattery said the decision to back the Yes campaign with cash was aligned with their support for broader efforts towards reconciliation between Indigenous and non-Indigenous Australians.
“BHP’s relationships with Indigenous Australians are fundamentally important to our company,” she said.
“We operate on traditional lands and we engage and partner widely with Indigenous communities and traditional owners. We are the largest resources sector employer of Indigenous Australians and we are a rapidly growing partner to Indigenous-owned businesses,” she said.
Rio Tinto
Along with BHP, Rio Tinto also donated $2m in support of the Yes as the company also stated they were moving to a model of co-management to ensure Indigenous voices are heard in their decision making.
In a statement published on their website, the company noted the relationships with the Indigenous peoples, including the agreements with traditional owners of the lands on which they operate, are a priority.
“We support the principle of Aboriginal and Torres Strait Islander peoples having a greater say in matters that affect them, and we advocate for the rights and heritage of Indigenous peoples on whose land we live and work
In this spirit, we welcome the additional lens that a Voice would bring to Government decision makers as they consider all important matters before them,” the statement said.
Woodside Energy
This oil and gas major was one of only three Australian resource companies to commit to support the ‘VoteYes’ campaign at the time of their announcement in April.
Woodside chief executive and managing director Meg O’Neill said in the April press conference that the company is on a journey in their relations with First Nations peoples and that “we haven’t always got it right”.
“Woodside supports the Yes Campaign,” she said.
“In my view, this would be an important step forward in reconciliation, an opportunity to bring Australians together”.
South32
Another mining giant that added its name in support of the Voice is South32 and have detailed their support in their latest reconciliation action plan.
The company stated “because of the work we do, and the impact it has on communities around Australia, we’re committed to reconciliation between Aboriginal and Torres Strait Islander Peoples and non-Indigenous Australians,” and endorse the Uluru Statement from the Heart.
“We encourage all Australians to take part in the conversations on Constitutional reform, a Makarrata Commission and seek to learn about our Aboriginal and Torres Strait Islander history,” the company said.
“Now is the time for Australia to come together and heal as one, so that we can truly be a nation for all”.
NAB
One of Australia’s leading banks NAB showed their support for the referendum early in July and called on businesses to back the Voice.
The NAB Foundation also donated $200,000 to the campaign, stating it “is leading the call to the Australian public to come together and vote in favour of the change to the constitution.”
In a statement by NAB, chief executive Ross McEwan said that business has a role to play in supporting the financial, career and business aspirations of First Nations people.
“It is time to recognise the rightful place of Indigenous Australians as the First People of this country, and enable and empower them to participate in shared decision making that impact their communities through the Voice,” he said.
ANZ
ANZ shared their support of the Voice in 2022 after backing The Uluru Statement which invited the nation to walk with the Indigenous people in a movement for a better future.
In a statement by group general counsel Ken Adams, the company asserted that “one should not lose sight of the achievement that after extensive consultation, widespread but not perfect consensus … and years of planning, we are being asked to walk with the Aboriginal and Torres Strait Islander community for a better Australia.”
“A referendum presents a rare opportunity for Australians to actively participate in fair, practical and unifying reform, and to shape the laws of the country”.
Commonwealth Bank
Another of the big banking names, Commonwealth Bank announced their support for the Voice in October 2022 after announcing their new Reconciliation Action Plan.
Chief executive Matt Comyn said in a statement that the company’s purpose is to build a bright future for all and seek to deliver on this commitment for Indigenous people every day.
“As the nation begins an important public discussion about constitutional recognition and an Indigenous Voice to Parliament, Commonwealth Bank is supportive of the Uluru Statement from the Heart.
Taking the advice of our Indigenous Advisory Council, we are supporting conversations across the bank to understand what is proposed and how it might contribute to better outcomes for First Nations peoples,” Mr Comyn said.
Westpac
Following the lead of the other major Australian Banks, Westpac has stated they will “mark [their] ongoing commitment to reconciliation with the Indigenous community by supporting this year’s Voice to Parliament referendum.”
Chief executive Peter King made the announcement at an event to celebrate the bank’s partnership with the Jawun Indigenous engagement program in March this year.
“It’s an important year for reconciliation and I’m proud to let you know that Westpac will be supporting the Voice,” King said at the event.
“We’ll be helping our employees to understand what the Voice is, and what it’s not.”
Woolworths
As one of Australia’s largest retailers, the Woolworths Group reaffirmed their support for the Yes vote.
The company has long stated their commitment to “actively contributing to Australia’s reconciliation journey through listening and learning, empowering more diverse voices and working together for a better tomorrow.”
“Woolworths Group reaffirms our support for the Uluru Statement from the Heart, and its calls for a First Nations Voice to Parliament enshrined in the Constitution,” the company said.
“Representing the communities we serve, we see opportunities driving tangible and meaningful changes.
“Of these opportunities is our commitment to Reconciliation”.
Coles
Supermarket giant Coles have shown their support for the Voice to Parliament and in August the company placed an Acknowledgement of Country on their receipts, joining the public discussion around the referendum.
The addition reflects the push by the Labor Party for the Yes vote.
A Coles spokesman said in a statement the supermarket was proud to include the Acknowledgement of Country as one of Australia’s largest employers of Indigenous Peoples.
“We work hard to create opportunities for Indigenous peoples, organisations, communities and customers to engage with our business and continue to increase understanding, value and recognition of Aboriginal and Torres Strait Islander cultures, histories, knowledge and rights,” a spokesman told Sky News.
Wesfarmers
Retail and industrial giant Wesfarmers donated $2m to the Yes campaign in June and was one of the only top listed WA companies to donate to the campaign at the time.
Chairman Michael Chaney, who has been very vocal on his stance and is a prominent supporter of constitutional change, said opposing the referendum would betray Wesfarmers’ Indigenous employees, customers and suppliers, as well as the Australian people.
“We employ 100,000 people of whom 4000 approximately are Indigenous people,” he said.
“We have suppliers who are Indigenous suppliers. Many of our customers are Indigenous people, whether it’s in Bunnings or Kmart and Target and so on”.
“If you think of all of those things, not supporting this referendum would be betrayal of all of those people I’ve mentioned … and I think betrayal of the Australian people because we think this is a very important move, a uniting move in Australia, and it should be supported.”
Telstra
Technology giant Telstra have pledged their support for the Voice to Parliament largely due to its strong ties to Indigenous communities and employees.
In their most recent reconciliation plan, Telstra chief executive Vicki Brady said it is vital to deliver the right outcomes that First Nations customers want and need, that the company lends its voice to important reconciliation initiatives.
“I am committed to supporting the Uluru Statement from the Heart, walking alongside First Nations communities to secure a better future for us all,” she said.
This was furthered by subsidiary TelstraSuper in a statement saying “the Voice will give independent advice to the parliament and government, building relationships that are collaborative, inclusive, and culturally appropriate.”
Xero
oftware giant Xero announced its commitment and support of the Indigenous Voice to Parliament in Australia in July.
In a statement from the business, they said supporting the referendum drives better diversity and inclusion outcomes and can help amplify their positive impact on the world.
“Listening and understanding is the first step to enabling meaningful change and positive community outcomes,” the statement said.
“Xero supports the establishment of a Voice to Parliament in Australia to enable First Nations peoples to have a say in policies and decisions that affect them and their communities, and to help close the gap”.
Transurban Group
Major road operator company Transurban announced their support of the ‘Yes Vote’ earlier this year.
In a statement from their reconciliation plan, the company said they will work to raise internal awareness and provide ongoing updates and information on the Uluru Statement from the Heart.
“As an Australian-born ASX top 20 company that owns and operates toll roads and infrastructure on lands that are traditionally owned by Aboriginal people, we are committed to progressing reconciliation across our business and sector,” the company stated.
“We know that education will be critical to gaining public support for a successful referendum to take place, enshrining a First Nations Voice in the Australian Constitution”.
Lendlease
Lendlease’s global chief executive Tony Lombardo said the building giant was encouraging staff to think about the constitutional changes required for an Indigenous voice, and was “right behind” the Uluru Statement from the Heart.
In their reconciliation plan, the company stated they have a long and proud history of supporting First Nations’ recognition and reconciliation.
“For the past eight years, Lendlease has publicly supported constitutional reform and in 2019 was one of 14 companies who came together to support the Uluru Statement from the Heart,” the statement said.
“We hope that most Australians will support this recognition and the constitutionally enshrined Voice – this is essential for genuine reconciliation”.
STAYING NEUTRAL
1. Aristocrat Leisure
2. CSL
3. Fortescue Metals
4. Goodman Group
5. Macquarie Group
6. Santos
7. WiseTech Global
8. Newcrest Mining
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