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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Future Fund drops tobacco: Should fossil fuels be next?

Posted on 01 March 2013

After a year long public campaign, the Future Fund has today announced plans to end its $222 million investment in tobacco.The decision follows much debate about whether the Future Fund should engage in ethical or socially responsible investments. In announcing the move today, the chair of the Future Fund David Gonski commented:
The board noted tobacco’s very particular characteristics including its damaging health effects, addictive properties and that there is no safe level of consumption. In doing so the board also considered its investment policies and approach to environmental, social and governance issues. As a result, the board determined that in this instance it is appropriate to exclude primary tobacco product manufacturers………………………………………..Full Article: Source


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