CSL Limited (CSL.ASX)
This month we highlight another blue chip stock CSL Limited (CSL.ASX) CSL share as a sharia compliant investment we currently hold in our Australian equities portfolio.
CSL is one of Australia’s truly great success stories, listing in 1994 following the privatisation of the Commonwealth Serum Laboratories it has gone on to become a global leading biotherapies company.
Today CSL specialises in the manufacturer and distribution of a wide range of biotech, healthcare plasma derived, plasma collection products and specialty medicines for the treatment of bleeding disorders and immunodeficiencies through its CSL Behring business and, vaccines for the prevention and control of influenza and unique range of antivenoms and Q fever through its Sequirius business. It also has a strong commitment to research and development with more than 1700 employees collaborating with global leading universities and partners seeking to develop new medical products in rare and serious disease areas where there is currently unmet need including organ biotherapeutics, biotechnology, immunoglobulin, transplant, haematology, cardiovascular and metabolic and respiratory diseases.
As the largest collector and processor of blood plasma and plasma products globally CSL provides critical lifesaving products and therapies. It’s products are used routinely by hemophiliacs, people suffering from rare immune deficiencies and in hospital emergency and critical care. In a similar vein, its influenza vaccines are used on the front line in battling the seasonal flu and seeking to suppress and control life threatening epidemics and pandemics.
CSL’s expertise in immunology and vaccines and global manufacturing footprint has put it in a unique position to help battle COVID-19. This has included partnering with the University of Queensland on a COVID-19 vaccine, playing a leading role in launching a global plasma alliance to develop a hyperimmune treatment for the most serious cases of COVID, providing its vaccine technology to multiple pre-clinical trial COVID vaccine programs and manufacturing the Oxford/ AstraZeneca vaccine for Australia.
Being a large and diverse company CSL has implemented a variety of company specific polices and initiatives to ensure it is operating in an ethical and sustainable way. In July 2017 CSL released its third Code of Responsible Business Practice setting out the rights and obligations of its more than 17,000 employees and commitment to patients and stakeholders. Its fourth edition of the Code will be released in July 2021 financial year.
CSL in addition to being halal also recognizes and acknowledges the impact climate change poses and is working to reduce its energy, water consumption and carbon emissions against targets across its manufacturing facilities and operations. The company has committed to setting and communicating its global new targets by June 2021, and for the last 9 years has been recognized by the FSTE4Godd Index Series, as a leading sustainability Index, for its environmental, social and governance (ESG) performance.
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Chief Investment Officer
Strategic leader with 19 years of industry experience and over 7 years in executive and senior management positions leading small to medium sized multi-functional operations in the funds management and superannuation industry. A record of delivering outstanding investment outcomes for members and a proven track record in driving member engagement through investment education and insights.