Hostplus is an industry super fund, originally aimed at workers in the hospitality and tourism sectors. It has 1.3 million members and $68 billion in funds under management.
In November 2021, Hostplus committed to include nuclear weapons in the definition of controversial weapons. Hostplus should ensure the updated policies exclude all companies that derive revenue from nuclear weapons with a 0% revenue threshold.
Hostplus has a fund-wide controversial weapons policy. Controversial weapons are defined by Hostplus as weapons subject to UN treaties, which should therefore include nuclear weapons as of January 2021.
Hostplus’s responsible investment policy includes controversial weapons for divestment and exclusions, however nuclear weapons were not specified. It was unclear whether the controversial weapons are divested or excluded.
Hostplus’s Product Disclosure Statement did not mention nuclear or controversial weapons. In November 2021, Hostplus committed to include nuclear weapons in the definition of controversial weapons.
Hostplus discloses their top 100 international share holdings, which did not include nuclear weapons producers.
Shareholder proxy voting records revealed that in the financial year 2020/2021, Host plus invested in eight nuclear weapons producers.
Read our detailed assessment of Hostplus’ policy and practice in our 2021 report