As war rages in Ukraine and the Middle East, weapons manufacturers are watching their profits and share prices soar.

Australia’s big institutions, including universities and local governments, are under pressure to dump their investments in these companies and ignore the attractive returns on offer.

Superannuation funds have long been ahead of the pack, offering members “ethical” or “socially aware” branded investment options that promise to shun the weapons industry.

But an ABC investigation has 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.

https://www.abc.net.au/news/2024-07-01/ethical-super-savings-found-in-controversial-weapons-makers-/104015686