MONEYME’s shareholders voted ‘Yes!’ to doing good, beyond making profits

News & Announcements

Team MONEYME|20 December 2022| 2-minute read

In November, MONEYME changed its company constitution to reflect a commitment to having an overall positive impact on society and the environment, making us one of the few ASX-listed companies to have done so.

The change means MONEYME’s purpose now goes beyond just making profits, and our Directors have a responsibility to consider ESG (environment, social governance) related stakeholders in any decision made by the company.

At MONEYME, we understand that considering sustainability and ESG stakeholders in business decisions is not only the right thing to do, it’s also beneficial for the business in the long run. Research has shown that strong sustainability performance leads to better business outcomes.

So, why is it so rare for an ASX-listed company to make such a change?

Well, for some companies, environmental and social outcomes are simply not that important. Making an amendment to the constitution is also hard – it needs to be passed via a special resolution, which requires 75% or more of shareholders to vote in favour of the change. Not only does the company need to care deeply about environmental and social outcomes but so do its shareholders.

It was no small feat to get this change over the line; we needed approval from the Board, legal advice from a top law firm, and a special resolution from shareholders. Thankfully, our shareholders gave us a HUGE thumbs up and voted with >98% in favour of the change! It has been a 12-month journey and we are proud to have made this commitment.

We are excited to be setting an example for other companies to follow as we create a more sustainable future.