White phosphorus, blood-red money. Australian Super profiting from genocide

Money has no conscience – sadly – Peter

Australia’s largest super fund, Australian Super, is investing members’ money in Israeli companies profiting from the US/Israeli genocide of the Palestinians. Michael West reports.

Australia’s largest super fund, Australian Super, is invested in Israeli companies linked to war crimes in Palestine, including a manufacturer of the deadly white phosphorus, which has been used in IDF attacks on crowded civilian areas in Gaza and Lebanon.

AusSuper holds shares in both Elbit Systems, Israel’s biggest weapons manufacturer and ICL Group (formerly Israel Chemicals Ltd,) which manufactures white phosphorus. Spanish protestors gathered to protest the group’s involvement in the genocide outside ICL offices last month.

These investments alone would appear to constitute a gross contravention of AusSuper’s own stated principles. Australian Super, like many large organisations, is a signatory to the UN General Principles (UNGP) on Business and Human Rights.

And by buying into these companies, the superfund, which manages around $360 billion of assets for ordinary Australians, has made millions of ordinary Australians unwitting investors in genocide.