Agribusiness
Australia's largest walnut producer, accounting for around 90 per cent of Australia's annual walnut crop. The company also operates irrigated farming production of cotton, corn, cereals, legumes and livestock. It also holds 150,000 megalitres of water entitlements. Taken over by a Canadian pension fund in 2019 and merged with Stahmann Farms.
Company Ownership
Webster Ltd
AUS
Stahmann Farms Enterprises Pty Ltd
owns 100% of Webster Ltd
AUS
Tree nut farming
They operate a pesticide-free pecan plantation in NSW and a processing facility in Toowoomba, Queensland. In 2017 Canadian pension fund PSP Investments bought a majority stake, and has since made a few bolt-on acquisitions, including Webster Ltd.
Public Sector Pension Investment Board
owns 51% of Stahmann Farms Enterprises Pty Ltd
CAN
Pension fund
One of Canada's largest pension investment managers. They invest funds for the pension plans of the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force. PSP Investments has a diversified portfolio of long-term Australian agricultural investments.
Company Assessment
(Last updated Jul 2024)
Praise
Criticism
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Webster Ltd
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Criticism
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Water controversy
A 2017 Four Corners investigation revealed that billions of litres of water purchased by taxpayers to save Australia's inland rivers are instead being harvested by some irrigators to boost cotton-growing operations, in a policy failure that threatens to undermine the $13 billion Murray-Darling Basin Plan. The pumping of this environmental water means taxpayers have in some cases been effectively subsidising already wealthy agricultural interests, including those of this company.
Source: ABC
(2017)
Stahmann Farms Enterprises Pty Ltd
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5/5 for packaging performance
This company received the highest packaging performance level of 5 (Beyond Best Practice) in its 2024 APCO Annual Report. Australian Packaging Covenant Organisation (APCO) is a not-for-profit organisation leading the development of a circular economy for packaging in Australia. Each year, APCO Members are required to submit an APCO Annual Report and Action Plan, which includes an overall performance level from 1 (Getting Started) to 5 (Beyond Best Practice).
Source: APCO
(2024)
Public Sector Pension Investment Board
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Criticism
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3/20 in Social Benchmark
The 2024 Social Benchmark assesses the world's 2,000 most influential companies on their responsibility in meeting society's fundamental expectations towards three measurement areas: respecting human rights, providing decent work, and acting ethically. This company was assessed in 2022 and received a score of 3/20. The average score was an alarmingly low 4.6/20 and the highest score was 15.5/20.
9.5% in Financial System Benchmark
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #219/400, with a total score of 9.5/100.
UN Principles for Responsible Investment signatory
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. UNPRI is a voluntary agreement.
Source: UNPRI
(2020)
Company Details
Type:
Public company
Contact Details
Address:
148 Colinroobie Rd, Leeton, NSW, 2705, Australia
Phone:
02 6951 3300
Website: