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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Heat on Labor over tobacco investments

Posted on 09 January 2012

The Gillard government is facing pressure to stop its multibillion-dollar Future Fund from investing in the tobacco industry and in companies that make nuclear weapons. The Future Fund, which was set up by the former Howard government to help meet the long-term cost of public sector superannuation liabilities, revealed last year that it held $147 million worth of shares in cigarette producers.
Norway’s sovereign wealth fund sold its investments in tobacco in 2010, and has guidelines preventing investing in companies that damage the environment………………………………………Full Article: Source


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