To: Penny Wong, Minister for Finance and Deregulation

Stop Investing Australian Taxpayers' Money in Nuclear Weapons Companies

Stop Investing Australian Taxpayers' Money in Nuclear Weapons Companies

Dear Minister,

I am greatly concerned that the Government's Future Fund has investments worth more than $135 million in 15 foreign-owned companies that manufacture nuclear weapons and the missiles, submarines and bombers to deliver them.

While the Future Fund did the right thing in 2011 by divesting from cluster bomb and landmine makers, it has refused to do away with its nuclear weapons stocks, believing that it is legitimate for some countries to possess these weapons.

As the minister responsible for the Future Fund, I call on you to intervene and instruct its board of guardians to reinvest the money in socially useful enterprises rather than companies that produce inhumane, illegal weapons.

Why is this important?

The Australian Government says at the United Nations that it's committed to achieving a world free from nuclear weapons. However, by investing in nuclear weapons companies, it is undermining that objective and contributing to the build-up of nuclear forces.

Any use of nuclear weapons would have catastrophic humanitarian and environmental consequences and violate multiple fundamental principles of international law. No country is entitled to retain its nuclear weapons indefinitely; all are legally obliged to disarm.

Australian taxpayers' dollars should be invested in companies that are working to build a safer, more prosperous nation, not companies that manufacture and modernise the world's worst weapons of mass destruction.

How it will be delivered

This is an initiative of the International Campaign to Abolish Nuclear Weapons. We will deliver the petition signatures to the Finance Minister in Canberra.

Reasons for signing

  • to wright the wrongs of our "public servants"