Unions are urging industry superannuation funds to campaign on workplace relations in the lead up to the federal election.
Australian Council of Trade Unions president Michele O’Neil says major companies that superfunds choose to invest in have chosen to undermine local workers’ rights while simultaneously exploiting foreign workers.
Ms O’Neil rejects claims of financial activism after unions demanded union-backed industry funds to pressure mining giant BHP to save the jobs of 80 local seafarers.
Union demands on industry funds prompted Treasurer Josh Frydenberg to write to the prudential regulator, raising alarm superannuation was being used to push an industrial relations agenda.