The 2020 Quit Nukes Honour Roll profiles the Australian financial institutions that have adopted and implemented policies to comprehensively prevent any financial involvement with companies that produce nuclear weapons.
We congratulate these institutions for supporting progress towards the abolition of nuclear weapons, and a safer world for all.
Click here to read the Honour Roll qualifying criteria.
Australian Ethical provides superannuation and managed funds.
Australian Ethical’s Charter states they must avoid any investment which is considered to “create, encourage or perpetuate militarism or engage in the manufacture of armaments.”
Australian Ethical doesn’t invest in any nuclear associated companies and applies a 0% revenue threshold for companies for manufacture of weapons, uranium mining and nuclear power generation. Australian Ethical applies the policy to all assets it manages, including third party funds. Australian Ethical applies the policy to all types of investments. It does not make use of external asset managers.
Australian Ethical joined the Quit Nukes Honour Roll in October 2020.
Christian Super provides superannuation.
Christian Super has been operating since 1984. The fund has 28,000 members and more than $1.6 billion in funds under management. Christian Super applies an “absolute exclusion to any company involved in the production or distribution of controversial weapons”.
“Controversial weapons are weapons which are indiscriminate in targeting and disproportionate in impact, on civilian populations; the effects of which may continue long after initial deployment.
These include atomic, biological or chemical weapons, as well as anti-personnel land mines and cluster munitions.”
Christian Super joined the Quit Nukes Honour Roll in April 2020.
Verve Super provides superannuation.
Verve Super has been operating since 2018 and manages more than $18 million in assets. Future Super Fund Management manages the investments of Verve Super. Verve applies negative screens to “armaments and militarism, support for regressive regimes or operations in countries of concern” and “nuclear and uranium”, including nuclear weapons.
Verve Super joined the Quit Nukes Honour Roll in April 2020.
Bank Australia provides banking, lending and insurance.
Bank Australia’s Responsible Banking Policy states “we don’t lend to corporations that produce or sell armaments”, including nuclear weapons.
Bank Australia joined the Quit Nukes Honour Roll in October 2020.
Future Super provides superannuation.
Future Super’s ethical mandate says that “Future Super seeks to avoid investment in the following activities and to exclude these activities from the fund’s investments: armaments and militarism, support for regressive regimes, or operations in countries of concern; uranium and nuclear energy; the financing or support of activities that cause environmental or social harm.”
Companies involved in the “production of armaments” includes all nuclear weapons producers, and are fully excluded from investments.
The policy applies to all assets, managed internally or externally. The Future Super Group is also contracted as a service provider and has helped create the investment methodologies, and performs the ethical screening, for two Exchange Trade Funds of the company Betashares. Both of these ETFS specifically exclude companies involved in armaments, nuclear energy and uranium.
Future Super joined the Quit Nukes Honour Roll in October 2020.
HONOUR ROLL QUALIFYING CRITERIA
Quit Nukes applies definitions and criteria developed by Don’t Bank on the Bomb to assess whether a financial institution is nuclear weapon free. To be included in the Quit Nukes Honour Roll financial institutions must:
Exclude all nuclear weapon associated companies. The policy excludes:
- whole companies, not only nuclear weapons related projects
- companies associated with nuclear weapons including through joint ventures
- companies regardless of their country of origin
- companies regardless of their country of operation.
Exclude all nuclear weapon associated activities. The policy excludes companies associated with:
- development, testing, production, maintenance or trade of nuclear weapons related technology, parts, products or services
- delivery systems such as missiles, that are specifically developed for nuclear tasks. It does not include delivery platforms such as bombers and submarines.
Apply to all the institution’s products and services. The institution applies the policy:
- for the entire group, including subsidiaries
- in all markets
- to all asset management classes – passive and active, internal and external
- to all existing and future investments
To be included in the Honour Roll, financial institutions complete a Quit Nukes questionnaire and provide evidence such as policies, exclusion lists, and other documents. Quit Nukes takes all care to verify the information provided, but acknowledges that financial institutions can and do change their investment policies and practices. Please contact the financial institution directly for the most up to date policy information. Inclusion in the Honour Roll is not an endorsement of a financial institution’s products, and should not be construed as financial advice.