Heart Foundation welcomes tobacco investment sale

THE nation's biggest public-owned investment body, the Future Fund, has abandoned a $222 million investment in international tobacco companies.

Fund chairman David Gonski said the board had considered various issues related to the tobacco industry, including tobacco damaging health effects, and that "there is no safe level of consumption".

"In doing so the board also considered its investment policies and approach to environmental, social and governance issues," Mr Gonski said in a statement.

The move was welcomed by the National Heart Foundation, with tobacco control spokesman Maurice Swanson also urging the federal government to legislate to ensure it does invest in tobacco companies again.

Greens health spokesman Richard Di Natale also celebrated the change, after his long campaign for the fund to sell its investments in the tobacco industry.



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