New Tasmanian independent MP Peter George has announced he will divest shares in fossil fuel and gambling companies after acknowledging they conflict with his political platform and personal values.
The Franklin independent, elected in the state’s recent snap state election, disclosed shareholdings in companies including Origin Energy and Endeavour Group.
George said these holdings were at odds with his campaign promises, which included opposition to new fossil fuel extraction in Tasmania and advocacy for mandatory pre-commitment cards for poker machines.
“Endeavour and Origin I agree are inappropriate due to my approach to life,” George told the ABC.
He considers his fossil fuel holdings inappropriate for his political values
“I’m really quite pleased it’s been raised. It’s better than having it sit there for years.”
The former ABC journalist explained he inherited the shares from his mother who died more than three years ago, but had not thoroughly reviewed the portfolio until it came to light this year.
George has advocated for mandatory pre-commitment cards for poker machines. Image / Pulse
“With Origin, there’s no great excuse. It’s tardy of me. There’s no excuse, but there is a reason,” he said.
George’s parliamentary returns also revealed his self-managed superannuation fund includes interests in mining companies BHP and Rio Tinto.
While not opposing Australian mining broadly, he plans to divest from Rio Tinto due to concerns about their treatment of Indigenous sacred sites.
The independent MP declined to disclose the exact number of shares he owns, describing it as personal financial information.
George acknowledged his failure to review his portfolio until recently. Image / Pulse
His Endeavour Group shares were reportedly issued to Woolworths shareholders during the companies’ demerger.
Holding Type
Company / Security
Personal Holding
ANZ Group Holdings
BHP Group Ltd
Commonwealth Bank
CSL Ltd
Endeavour
Magellan Fin Grp Ltd
Northern Star
Origin Energy
Southwest Ltd
Soul Pattinson
Transurban
TPG Telecom Ltd
Westpac Banking Corp
Woolworths
SMSF (Curran George Retirement Plan)
Au Clinical Labs
AFI (Australian Foundation)
ANZ Group
APA Group Securities
ARGO Investments
BHP Group Ltd
Commonwealth Bank
CSL Ltd
National Australia Bank
Rio Tinto Ltd
South32 Ltd
Transurban Securities
Telstra Group
Westpac Banking
WAMINCOMEMAX
Woolworths
CHTR
H LWR Securities
Qualitas