VicSuper reaffirms commitment to tobacco free super

VicSuper has formally reaffirmed its commitment to being a tobacco free super fund.

“VicSuper’s investment portfolio has been tobacco free since April 2013 when the VicSuper Board resolved to divest the Fund of tobacco manufacturing stocks. The Board made this decision by weighing up the potential gains and risks for members, their superannuation holdings and the broader community, both now and in the long term” said Michael Dundon, VicSuper CEO.

To mark World No Tobacco Day on 31 May 2017, VicSuper has joined forces with some of the largest global investors to sign an investor statement on tobacco. This statement congratulates the achievements of the World Health Organization (WHO) and global health ministers on tobacco control. It also openly supports the tobacco control measures already taken by governments and encourages the strengthening of this work well into the future.

“According to the WHO, tobacco consumption poses a significant risk to global health and economies. Tobacco is a primary driver of today’s dramatic rise in chronic non-communicable disease, killing 7 million people per year, a figure that is expected to rise to 8 million by 2030, Furthermore, smoking costs the global economy more than $1 trillion a year, far outweighing global revenues from tobacco taxes” as outlined in the investor statement .

To further strengthen this commitment VicSuper has also formally become a supporter of the Tobacco Free Portfolio initiative. This initiative aims to inform, prioritise and advance tobacco free investment by eliminating tobacco from investment portfolios across the globe. It was established Dr Bronwyn King, who has used her experience as an oncologist working on the front line treating lung cancer patients to engage with super funds on tobacco divestment.

VicSuper’s commitment to tobacco free super is part of the super Fund’s broader responsible investment strategy. Recently VicSuper also re-launched its socially responsible investment option which helps members to invest in alignment with their social and environmental values. Learn more about the Socially Conscious option.
VicSuper has formally reaffirmed its commitment to being a tobacco free super fund.

“VicSuper’s investment portfolio has been tobacco free since April 2013 when the VicSuper Board resolved to divest the Fund of tobacco manufacturing stocks. The Board made this decision by weighing up the potential gains and risks for members, their superannuation holdings and the broader community, both now and in the long term” said Michael Dundon, VicSuper CEO.

To mark World No Tobacco Day on 31 May 2017, VicSuper has joined forces with some of the largest global investors to sign an investor statement on tobacco. This statement congratulates the achievements of the World Health Organization (WHO) and global health ministers on tobacco control. It also openly supports the tobacco control measures already taken by governments and encourages the strengthening of this work well into the future.

“According to the WHO, tobacco consumption poses a significant risk to global health and economies. Tobacco is a primary driver of today’s dramatic rise in chronic non-communicable disease, killing 7 million people per year, a figure that is expected to rise to 8 million by 2030, Furthermore, smoking costs the global economy more than $1 trillion a year, far outweighing global revenues from tobacco taxes” as outlined in the investor statement .

To further strengthen this commitment VicSuper has also formally become a supporter of the Tobacco Free Portfolio initiative. This initiative aims to inform, prioritise and advance tobacco free investment by eliminating tobacco from investment portfolios across the globe. It was established Dr Bronwyn King, who has used her experience as an oncologist working on the front line treating lung cancer patients to engage with super funds on tobacco divestment.

VicSuper’s commitment to tobacco free super is part of the super Fund’s broader responsible investment strategy. Recently VicSuper also re-launched its socially responsible investment option which helps members to invest in alignment with their social and environmental values. Learn more about the Socially Conscious option.
  • Tobacco free logo

    Proud supporter of the Tobacco Free Portfolios initiative
    Proud supporter of the Tobacco Free Portfolios initiative