Australia’s Sovereign Wealth Fund Should Not Be Funnelled Into Net Zero, Says Think Tank

The call comes after the Australian treasurer appointed former union secretary Greg Combet to lead the $200 billion sovereign wealth fund.

Greg Combet speaks at the ACTU Congress in Brisbane, Australia on, July 17, 2018. AAP Image/Jono Searle

The Future Fund—Australia’s sovereign wealth fund—must remain in its current independently-managed form, as opposed to liquidated to fuel more government spending on net zero, according to the free market think tank, the Centre for Independent Studies (CIS). 

On Jan. 30, the CIS released a publication written by David Murray— one of The Future Fund’s inaugural chairmen—in which Mr. Murray argues that the fund should be protected from being sold by politicians looking to fund their “pet projects.”