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No Future in nuclear weapons

Media Release
Scott Ludlam 3 Apr 2012

The Australian Greens welcomed new Future Fund chief David Gonski today and urged him to hit the ground running by cutting the Fund's links to nuclear weapons.

Greens spokesperson for nuclear policy Senator Scott Ludlam said that as of January 2012, the Fund holds more than $133million of shares in 14 companies involved in nuclear weapons programs.

"The Greens urge Mr Gonski to lead the way on cutting all ties between the Future Fund and the nuclear weapons industry. The Future Fund has rightly ruled out investing in the cluster munitions industry, and this approach should be applied to nuclear weapons of mass destruction."

Senator Ludlam praised members of the International Campaign to Abolish Nuclear Weapons who gathered at the Future Fund office in Melbourne today to draw attention to Fund's investment in nuclear weapons.

"Any firm involved with nuclear weapons should not receive a cent from the Australian tax-payer. These weapons are immoral, unethical and indiscriminate. They are designed to cause maximum and long-lasting destruction to civilians and civilian infrastructure."

"The Fund's investment in the offending companies makes up less than one percent of its total portfolio, and a divestment will do no damage to the Future Fund while making an important statement against nuclear weapons."

The Greens currently have a bill before the Senate that would make the Future Fund's divestment from nuclear weapons law.


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