Author: Elizabeth Greenhalgh
Growth of the tobacco market will inevitably lead to more deaths. Pension funds (known as superannuation funds in Australia) positively and significantly affect share prices, and are therefore important investors in the stock market. Australian government policies require all employed Australians to contribute to pension funds, therefore most Australians have some investment in the share market. A recent analysis of Australia pension funds revealed tobacco exposure ranging from 0.108 per cent to 1.28 per cent of total assets, equating to at least AU$2.484 billion (and potentially 10 times that amount) of Australian workers’ money invested in tobacco companies.
Read more: Cancer Council Victoria