Posted by admin on February 28, 2013
Australian Greens health spokesperson, Senator Richard Di Natale, today welcomed the Future Fund’s announcement that it will no longer invest in tobacco companies.
“This outcome demonstrates why it’s so important to have other voices in the parliament,” said Senator Di Natale.
“Since the Future Fund’s inception, neither of the old parties have done anything about the fact that hundreds of millions of tax-payer dollars have been invested in this insidious industry.”
The fund had invested more than $200 million dollars in 15 tobacco companies, including British American Tobacco, Phillip Morris and Lorillard, some of who have challenged plain packaging in the High Court and through the World Trade Organisation.
“After a year-long campaign from the Greens, including the introduction of a private members bill and regular grilling at Senate Estimates, we finally have an end to the hypocrisy of introducing world leading tobacco reform in plain packaging, while simultaneously profiteering from the sale of the toxic product.
“I welcome the leadership shown by Mr David Gonski, the new chair of the Future Fund, in commissioning the review that led to today’s decision.
“This is a win for public health and I hope that it is an inspiring example to all other investment funds.”by