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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Future Fund invests in fossil fuels but not tobacco

Posted on 21 November 2014

Former treasurer Peter Costello has defended the Future Fund’s investment decisions during a sometimes feisty Senate estimates hearing in Canberra. Mr Costello, who is the chairman of the fund, was questioned about why the fund continued to invest in fossil fuels given its decision to stop investing in tobacco companies.
Mr Costello said the fund concluded that no amount of tobacco was safe and its decision to divest those shares would not affect other investment decisions.”I think it would be extraordinary if the government of Australia in its sovereign wealth fund said it was going to pull out of coal or gas or oil,” he said………………………………….Full Article: Source


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