Queensland’s largest superannuation fund invests in nuclear weapons and depleted uranium

At a recent rally opposing the Australian government’s acquisition of nuclear submarines Marianne Hanson told us that QSuper had investments in nuclear weapons. Marianne Hanson teaches and researches in the field of international politics. She is also Vice-Chair of ICAN Australia – the International Campaign to Abolish Nuclear weapons, and she spoke about the problems that nuclear submarines will pose to our efforts to eliminate nuclear weapons.

Ms Hanson later called on people who are members of Q Super to write to their super fund asking them to divest from the nuclear industry.

On 23 December 2021, Ellen Armitage, a Technical Specialist at QSuper, confirmed the allegations by Marianne Hanson : “QSuper’s main basket of equities … with some tie to nuclear weapons, conventional (including depleted uranium), biological/chemical, or nuclear weapons systems and components.”

Ms Armitage claimed that these investments were small.

Brisbane (the capital of Queensland) is listed as a nuclear free zone. Brisbane was declared a nuclear-free zone in 1995 after becoming an inaugural member of the Australian Nuclear Free Zones Secretariat in 1983 at a meeting in the Sydney Town Hall of councils around Australia.

How can that be when QSuper at Central Plaza Three 70 Eagle Street, Brisbane is arranging its finances to support the nuclear weapons industry?

This is probably true of other government super funds like the Commonwealth’s CSS and PSS schemes. This is despite Australia being party to the South Pacific Nuclear Free Zone Treaty (Treaty of Rarotonga) and is supposed to implement its obligations under this treaty through the South Pacific Nuclear Free Zone Treaty Act 1986.

The question is what are retired workers with QSuper going to do about it?

Are we going to picket QSuper offices and raise members awareness about QSuper’s investment portfolio? Are we going to divest from QSuper? Where in the capitalist system is a place for workers to put their hard earned pensions which are not contaminated with weapons of mass destruction and war?

Please leave your comments down below?

Ian Curr
23 December 2021

What do you think about this article?