29 March 2018:
Effective immediately, Qantas Super will no longer invest in tobacco manufacturers. We are currently selling the small holdings we own.
In announcing the decision, Chief Investment Officer Andrew Spence said: “Given the negative social costs and health problems associated with smoking, tobacco is at risk of becoming obsolete with growing acknowledgement globally that there is no safe level of usage of the product.
“Indeed, at a country level, Australia is a signatory to the UN tobacco treaty and has been for some time.
“Excluding tobacco is in line with our sustainable growth investment belief, with better investment opportunities available elsewhere. We now join more than 35 other super funds who have also withdrawn from tobacco.”
Source: Quantas Super