This month we highlight Cleanaway Waste Management (CWY.ASX) as an Islamic super compliant investment.
Cleanaway Waste Management operates across the entire waste management value chain of collections, recycling and resource recovery as well as treatment and disposal. Cleanaway also operates in most sectors of the Australian economy and segments of the market including residential (council collections), small to medium enterprises, commercial and industrial.
Recent global developments limiting domestic waste exports, combined with the growing community awareness of sustainability has pushed economies to divert waste from landfill and develop the necessary infrastructure to increase waste recycling.
This provides Cleanaway with a significant opportunity to invest and implement its circular economy strategy. This strategy focuses on reuse and recycling resources, limiting materials that are sent to landfill, and increasing the amount of plastic, cardboard, glass and other products that are recycled. In addition, over the medium term, this will increase the level of domestic manufacturing requirements and job creation in related fields.
Crescent Wealth’s Islamic super investing principles share many similarities with circular economy principles. Sharia law’s premise that no one should profit from loans and money lending is having the impact of shifting people’s perspectives towards longer-term and shared outcomes and away from short-term transactional thinking.
Cleanaway, along with other key industry participants, have lobbied state and federal governments on the importance of separating waste at the source. This includes separate residential food organics and glass bins, introduction of glass/plastic container deposit schemes. Additionally, Cleanaway have increased their investment in waste sorting equipment.
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Talal currently serves as a Non-Executive Director on the Whitlam Institute and Western Sydney University Foundation Council Board. He also serves as Chairman of First Quay Capital and Chairman of the Australian Arab Dialogue. Talal has also served on the Australia Post, Board of Sydney Ports, Macquarie University and the Western Sydney Area Health Service and the Chairman of the Department of Foreign Affairs and Trade; Council of Australia Arab Relations. In an executive capacity, Talal spent 10 years at PwC as a director and strategist, and at investment firm Babcock & Brown in the Corporate Finance Group and later in the Technical Real Estate Division. Later Talal held leadership positions in Better Place Australia, Platinum Hearing and Star Transport Australia.