TelstraSuper is a fund available to employees and former employees of Telstra Group. It has around $23 billion in funds under management.
TelstraSuper should update the the definition of controversial weapons to include nuclear weapons, and ensure all companies that derive revenue from nuclear weapons are excluded with a 0% revenue threshold.
TelstraSuper should adopt passive investment ETF policies and investment mandates to select options that exclude nuclear weapons, and divest from all current nuclear weapons holdings
TelstraSuper does not have an adequate policy on nuclear weapons.
While controversial weapons are excluded from most of the portfolio, it seems that only landmine and cluster munition manufacturers are excluded.
Investments in nuclear weapons producers are permitted, and passive investments can still include controversial weapons
The latest disclosure of international holdings (30 April 2020) showed the top 10 in the International Shares investment option. No
nuclear weapons companies appeared in that list.
Examination of shareholder voting records show that TelstraSuper held shares in 12 nuclear weapons producers.
Read our detailed assessment of TelstraSuper policy and practice in our 2021 report.