Like many Australians, Greg* didn't pay a whole lot of attention to who his superfund was, let alone what assets they invested in.
The 17 superfunds own a company known as IFM Investors, which invests in dozens of infrastructure projects, including Southern Cross Station.In 2002, the Victorian government entered a public-private partnership with a wholly-owned subsidiary company of IFM Investors, to finance and build Southern Cross Station, and also operate it until 2036.
Station worker Greg says the marketing on IFM Investors website — which claims it stands for workers — is laughable. The Australian Council of Trade Unions champions them on their website saying "these are profit-to-member superannuation funds dedicated to putting the interests of members first".The Transport Workers Union , which represents many workers at Southern Cross, is closely linked to TWU Super — sharing its name with the company and having members on the superfund's board.
The TWU didn't answer questions put to it, but said in a statement workers at Southern Cross had the right to safety and it continued to fight for better air quality in workplaces.Greg, who is a TWU member, says he doesn't feel the union is doing enough to protect him and his fellow workers. "Unions have raised awareness around poor air quality at Southern Cross Station, including through Victorian Trades Hall Council's safety alerts for both workers and passengers," Mr Mitchell says.