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The 'ethical' green investment movement has been caught backing the weapons of war. It's another serious blow to the credibility of those pushing this nonsense.
You have to hand it to the hypocrites of the Green movement.
Not content with polluting the planet at taxpayers' expense with toxic solar panels and bird-killing wind turbines, they've now discovered a way to save the planet through 'ethical' investments in the weapons of war.
We've discussed the investment 'greenwashing' fund managers use to make their capitalism seem socially acceptable. Now it seems their ABC has finally twigged to the rort.
The ABC has published a report that details how 'ethical' and 'socially aware' superannuation investment options have:
...discovered some of these funds — including one run by Australia’s biggest fund — have invested millions of dollars of their customers’ retirement savings into companies that make some of the most controversial and devastating weapons of war.
These weapons include armour-piercing bullets that contain depleted uranium - which remains toxic long after the initial impact.
The investigation found ethical, socially aware and sustainable branded options held more than $27 million worth of shares in companies classified as being involved in controversial weapons at December 31.
Controversial weapons include nuclear weapons, anti-personnel mines, cluster bombs, chemical and biological weapons and white phosphorus bombs.
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