Antinuclear

Australian news, and some related international items

Union push to union trustees to formally exclude nuclear energy from industry super investments

ETU pushes union trustees to block nuclear AFR, 10 July 19 The Electrical Trades Union is leading a push for union trustees to formally commit to excluding nuclear energy from industry super investments in favour of bolstering renewables.  ETU national secretary Allen Hicks will propose an anti-nuclear investment motion at the Australian Council of Trade Union’s national executive later this year and use the ACTU’s Super Trustees Forum to “build and leverage support among my union director colleagues on this”.

“I want to pass a motion committing union directors in the industry super sector to focus on backing investment in renewable tech,” he will tell the union’s national conference on Wednesday afternoon.

“To focus on backing that investment instead of propping up the misguided imaginings of those who long for an Australian nuclear sector.”

The motion follows the ETU’s attack last week on an energy paper released by industry fund peak body Industry Super Australia (ISA), chaired by former ACTU secretary Greg Combet…….

Mr Hicks will attack the paper as a “disgrace” in his speech and question industry funds diverting money to ISA to produce it.

“It’s a disgrace that this body – this body that unions created – could be used as part of a push to expose workers and their communities to the catastrophic dangers that nuclear power plants present,” the speech says.

He will advocate industry super funds commit to a “war-like mobilisation” to battle climate change and “become the ultimate weapon in Australia’s fight for a clean, renewable energy sector”.

“The retirement savings of Australian workers could be deployed to invest in smart, new, renewable technology – including battery tech – that could set us on the path to zero carbon emissions.”

The ETU’s anti-nuclear position is supported by the $50 billion building industry super fund Cbus, which includes the CFMEU on its board of trustees………

Mr Hicks will argue the economics around nuclear power don’t stack up due to the costs and time taken for construction.

“But even if they did, our union would oppose it,” he will say, arguing nuclear puts workers in unsafe conditions.

“No responsible Australian trade union … no organisation that claims to represent the interests of Australian workers … could possibly endorse putting Australians into that line of potential fire.”…..

Energy Super, whose board includes ETU representatives, stressed it was “focused on maximising members’ hard-earned retirement savings”.

“We have a transparent investment process which considers many factors including environmental, social and governance criteria to ensure the sustainability of the fund over the longer term,” chief executive Robyn Petrou said.

“We are increasing our investments in renewables, such as wind farms and solar  energy.” https://www.afr.com/leadership/workplace/etu-pushes-union-trustees-to-block-nuclear-20190710-p525sj

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July 11, 2019 - Posted by | AUSTRALIA - NATIONAL, employment, opposition to nuclear

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