news banner fund

Industry super fund, Vision Super, announced they will be divesting from tobacco, thermal coal and tar sands producers, in addition to their existing controversial weapons exclusion.

Chief Executive Officer Stephen Rowe said the fund has a decision-making framework and the Board applied it after seeking the views of members.

“As a values-based fund, environmental, social and governance factors are important to us when we decide how to invest,” Stephen said.

“Our ESG decision-making framework looks first to reduce harm through active ownership of shares, and the Board will only decide to divest if the evidence is clear that the harm of a particular product cannot be reduced.

“We also take into account the views of our members, through member forums, feedback and surveys.

“We already had considerably lower carbon intensity than the index across our portfolio, because we don’t believe markets are pricing in carbon risk appropriately – which could put members’ money at risk.

“But thermal coal and tar sands are two of the biggest contributors to climate change, and we don’t believe the risk of continuing to use them can be mitigated. Report after report tells us that if we don’t act now to keep temperature increases contained, future generations will suffer. So the Board made the decision to exclude these.

“We also looked at tobacco through the same lens, and concluded that it’s not possible to minimise the harm of a product that kills its users, and the people around them. So the decision was made to exclude tobacco too.”

Vision Super is working on a strategy for prudently selling excluded stocks out of the portfolio.

The materiality threshold for divestment has been set at 25% of revenues, with a buffer of +-5%.

Media contact: Rebekka Power – 0404 796 183
Twitter: @VisionSuper

Latest videos

  • [HD] Vision Super Annual Member Meeting 2019
  • [HD] Industry super funds compared to retail funds
  • [HD] Are you uninsured?
  • [HD]  Start planning for your retirement today.
  • [HD] What would happen if you lost your income?
  • [HD] Find out how you can close the super gender gap
  • [HD]  Investment outlook 2019
  • [HD] Investment snapshot 2018
  • [HD] Aim for your dreams
  • [HD] It's time to get ready

Follow us on social media today

Twitter feed

The bushfires are effecting the quality of the water at our beaches, so make sure you check the updates before you…
15 January 2020
Vision Super would like to acknowledge and extend our heartfelt thanks to the emergency services workers and volunt…
13 January 2020