The Australian Greens have today welcomed news that the Future Fund has launched a review into its tobacco investments.
“The Future Fund’s review of their tobacco holdings is a very welcome step,” said Senator Richard Di Natale, Greens health spokesperson.
“The only logical outcome of the fund’s internal review is to recommend for the divestment of those holdings.
“Cigarettes kill one in two of their long term users and tobacco companies have a history of lying, hiding evidence, exploiting child labour and aggressively marketing their highly addictive product to children in developing countries. Investing hundreds of millions in taxpayer dollars in a toxic industry like tobacco makes absolutely no sense to anyone.”
The Future Fund’s tobacco holdings have come under regular examination by the Greens in Senate Estimates and the announcement of the review comes just days before the new Chair of the Future Fund, David Gonski, was due to testify in front of Senate Finance and Public Administration Committee for the first time.
“I have a bill before the Senate that would force the Future Fund to divest its tobacco stocks but I would be much happier if we could achieve the common sense outcome without requiring legislation.”
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