Tuesday, April 15, 2008

Take Action on Super Fund Investments in Cluster Bombs

Take Action on Super Fund Investments in Cluster Bombs

On Friday, 18 April, the day before the Global Day of Action to Ban Cluster Munitions (19 April), there will be protests at the Super Fund offices in Auckland and Wellington to call on the Fund to divest immediately from companies involved in cluster bomb production.

* Auckland: from 5pm to 6pm, outside the AMP Centre, corner Customs Street West and Albert Street, down by the Viaduct. Organised by Investment Watch, for more information contact email omarhamed123@gmail.com

* Wellington: from 5pm to 6pm, at the traffic lights at the intersection of Queen's Wharf, Jervois Quay and Grey Street. Organised by the Women's International League for Peace and Freedom and Peace Movement Aotearoa, for more information contact email wilpf@xtra.co.nz



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What is the Super Fund?
The Super Fund is billions of dollars of YOUR tax money invested in heaps of different corporations so that there will be money in the bank to pay for your pension when you retire.

What Cluster Munitions companies is the Super Fund invested in?
As of 30 June 2007, the Super Fund had investments in companies involved in cluster munitions production of around $26 million [6], which they list as Lockheed Martin, investment of $21,850,772 [7] , Raytheon Co. $2,294,974, and Poongsan Corp. $1,582,636. Not included in the Fund's list are Thales S.A. $657,428, and Hanwha Corp. $139,445 - both of which the Norwegian government Pension Fund has divested from because of their involvement in cluster munitions production. There may additionally be investments in other companies that have been involved in such production in the past, but whose current involvement is uncertain.

What are Cluster Bombs?
While all weapons are potentially dangerous to civilians, cluster bombs pose a particular threat to civilians for two reasons: they have a wide area of effect, and they have consistently left behind a large number of unexploded bomblets. The unexploded bomblets remain dangerous for decades after the end of a conflict.

98% of 13,306 recorded cluster munitions casualties that are registered with Handicap International are civilians. Many of these are children. So if you want to let the government know that your not happy with investments in cluster bombs then come along to the protest.

More info:
http://www.converge.org.nz/pma
http://investmentwatch.wordpress.com
http://www.stopclusterbombs.org.nz

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