Australia: Large pension fund divests from Transfield Services over reports of abuses at immigrant detention centres
Author: Sally Rose, Sydney Morning Herald (Australia), Published on: 17 August 2015
"HESTA dumps Transfield citing detention centre abuses", 18 Aug 2015
Industry super fund HESTA has sold its stake in Transfield Services citing evidence of human rights violations inside the offshore detention centres run by the...company. The...fund said the risks associated with Transfield Services...[which] operates the federal government's detention centres on Manus Island and Nauru, were too high.
...HESTA chief executive Debby Blakey said..."There is...a significant quantum of evidence that there have been numerous sexual and physical assaults in the detention centres operated by Transfield Services."
...[The] company said: "Our shares are traded every day. We understand one investor has recently divested its interest, while at least one other has increased its interest. Shareholders including major funds continue to support the company".
Related companies: Transfield Services (now Broadspectrum)