The Tasmanian Greens today used today’s World No Tobacco day to call for all candidates standing for election to the Retirements Benefits Fund (RBF) Board to commit to reviewing the current practice of investing super into tobacco companies.
Greens Health spokesperson Paul O’Halloran MP said that Tasmania continuing to have amongst the worst smoking rates in the nation ramped up the pressure for leadership across all sectors to tackle this serious public health issue.
“World No Tobacco Day is not about just patting ourselves on the back about progress made, it is about focussing on doing more,” MR O’Halloran said.
“We need to make this international day mean something.”
“The best way to celebrate World No Tobacco day would be to hear that all candidates for the RBF Board are committed to reviewing the $27 million that the Fund invests in Big Tobacco.”
“We also need leadership across the political spectrum, and now would be the opportune time for both the Tasmanian Liberal Party and those Legislative Councillors who voted to defeat the proposed ban on political donations from Big Tobacco, to front up to Tasmanians, say that you got it wrong, and that you will now support an end to the polluting of politics by tobacco companies.”
“If all community leaders, political superannuant funds and in the private sector, pull together we should have an end to political parties accepting donations from big tobacco, and our public sector super fund divest its investments in big tobacco by World No Tobacco Day 2014.”
Where are tobacco investments already excluded?:
The RBF has $27.19 million invested in companies including British American Tobacco, Imperial Tobacco, Japan Tobacco, Philip Morris and the Swedish Match Company.
Currently there are four Australian government jurisdictions which have divested tobacco investments – Tasmania must not be left behind!
• Australian Commonwealth: The national government’s Future Fund announced its end to $230 million plus investment in primary tobacco producers, February 2013.
• NSW: The NSW government announced in November 2012, that the Liberal State government will take steps to ban all tobacco investments across government, including ‘requesting that the independent State Super exclude tobacco investments from its investment portfolio and mandates.’ – worth approximately $224 million in total (State Super had $158 million, NSW Treasury Corp had $27 million, while WorkCover had around $39 million).
• SA: The South Australian Labor State government announced in January 2013 that its state fund, Funds SA, would exclude tobacco product manufacturers for its investment portfolios – worth approximately $20 million.
• ACT: In August 2012, the ACT government moved to exclude tobacco companies form government investment. Worth approximately $20 million.
• Norway, New Zealand and five US states also have excluded super funds from tobacco investments
• Australian super funds: First State, HESTA, Local Government Super, UniSuper, Christian Super.
Paul O’Halloran MP Greens Health spokesperson Friday, 31 May 2013
