Tobacco Free Portfolios – June 14 2017.
Over half of Australia’s superannuation funds are currently investing in tobacco. This is despite the fact that 15,000 Australians die early as a result of tobacco every year.
The problem is that it’s very hard for consumers to know whether their money is being invested in tobacco or not. Tobacco Free Portfolios’ newest initiative, Verified Tobacco-Free, aims to solve this problem.
In 2010 Dr Bronwyn King, CEO and Founder of Tobacco Free Portfolios, and practising Radiation Oncologist, discovered by accident that her Super Fund was investing her money in the very companies that made the products causing profound harm to her patients. Since then, she has worked tirelessly champion tobacco-free investment, bringing the issue to boardrooms of Super Funds across Australia and the world.
35 large Australian Super Funds with total assets of >$650 Billion are now tobacco-free. To date, they have divested around $2.5 billion in tobacco stocks.
Tobacco Free Portfolios aims to make Australia the first country in the world with a completely tobacco-free superannuation system.
The Verified Tobacco-Free logo will be available for tobacco-free Super Funds to adopt, subject to an audit confirming their tobacco-free status.
– Super Funds can proudly display the logo to clearly demonstrate their tobacco-free status.
– Fund members can be sure that their money is not being invested in tobacco. This will help consumers make easy, informed decisions.
– Verified Tobacco-Free Super Funds can be ‘named and famed’, which will encourage other funds to follow suit.
Today, Tobacco Free Portfolios launched a crowd funding campaign, seeking donations to help roll out the Verified Tobacco Free initiative. Dr King aims to raise more than $50,000 to make the initiative a reality.
The campaign website is https://pozible.com/project/verified-tobacco-free.
Available for interview: Dr Bronwyn King
Media Contact: Alannah Gottschalk