It’s good to see the Treasurer’s move to direct the Future Fund to invest in things we all need like housing and renewable energy but the Government also needs to make clear what the fund should stop investing in.
Senator Barbara Pocock, Greens spokesperson on Finance:
“Any new mandate should make clear that the fund should not invest in coal, oil and gas. We can’t keep putting our foot on the accelerator and the brake at the same time. We’re in a climate crisis and Australians don’t want to see us investing in the very things that will make this crisis worse.
“I’ve been campaigning for two years to have the investment mandate updated to reflect Australians wishes to transition to a clean energy economy. The overwhelming majority of us want this.
“This $230 billion belongs to all Australians and is there to benefit future generations. What sort of future will we leave them if we continue to using our investments to prolong the energy transition and risk climate catastrophe.
“Years ago, the Future Fund was directed not to invest in tobacco. Well, here’s the news, fossil fuels are the new tobacco.
“The Government has a responsibility to direct investments away from coal, oil and gas and contribute to a clean, green and safe future for our children.”