NZ Funds KiwiSaver Life Cycle - Age 65

Companies of concern

• Human Rights Violations

  • Uber Technologies, Inc. 0.69%
    Labour Rights Violations

    Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.

    UBER TECHNOLOGIES, INC. Labour Rights Violations

    Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.

  • Meta Platforms, Inc. 0.39%
    Public Safety

    Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.

    META PLATFORMS, INC. Public Safety

    Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.

  • Rio Tinto 0.27%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

    Human Rights Abuses

    Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.

    RIO TINTO Fossil Fuel Power Generation Human Rights Abuses

    Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
    Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries.

  • Thermo Fisher Scientific 0.09%
    Human Rights Abuses

    Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.

    THERMO FISHER SCIENTIFIC Human Rights Abuses

    Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.

  • Johnson & Johnson 0.07%
    Public Safety

    Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.

    JOHNSON & JOHNSON Public Safety

    Johnson & Johnson is the world's largest and most diverse healthcare firm. The company has been involved in repeated incidents related to the quality and safety of several of its products across all three of the company’s business segments — drugs, devices, and consumer products. Several products have been associated with allegations of severe or even fatal adverse impacts on patients.

  • Nestlé 0.07%
    Human Rights Abuses

    Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.

    NESTLÉ Human Rights Abuses

    Nestle manufactures and sells food and beverages. The company has been criticised for exploiting local water resources for its bottled water production, which has forced underprivileged communities to pay a premium for their groundwater while alternatives have been exhausted. There have also been several allegations of labour conflicts and human rights violations in Nestle’s palm oil, coffee, fruits and seafood supply chains.

• Environmental Harm

  • Pg&E Corp 0.28%
    Environmental Damage

    Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.

    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

• Animal Cruelty

  • Tyson Foods Inc 0.28%
    Factory Farming

    Where companies are involved in intensive poultry operations, including managing direct operations which raise birds or managing a network of contracted farmers, slaughtering, packaging and onward sale to wholesalers, retailers, and restaurant chains.

  • LVMH Moët Hennessy Louis Vuitton Se 0.15%
    Animal Welfare Issues

    Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.

    Fur & Speciality Leather

    Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).

    LVMH MOËT HENNESSY LOUIS VUITTON SE Animal Welfare Issues Fur & Speciality Leather

    Uses exotic leather and fur products in its luxury ranges such as crocodile, python and ostrich. Brands containing exotic leather include Donna Karan, Louis Vuitton, Fendi, Bvlgari, Céline. In addition it sells cosmetics and fragrances in China where testing on animals is required.

  • Procter & Gamble Co. 0.09%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

  • Dupont De Nemours 0.07%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

  • L'Oréal SA 0.07%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

    L'ORÉAL SA Animal Testing

    L'Oréal is a personal care company and cosmetics company concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.

  • Colgate-Palmolive Co. 0.06%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

  • Croda International PLC 0.05%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

• Weapons

  • Walmart, Inc. 0.16%
    Firearms

    Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.

    WALMART, INC. Firearms

    Walmart is the USA’s largest retailer by sales, selling a variety of general merchandise and grocery items. Walmart retails shotguns, pistols and ammunition at some of its stores in the USA, as well as components for firearms such as scopes. Walmart are currently working to improve their weapon-realted controls.

• Fossil Fuels

  • Contact Energy Ltd. 1.01% 1.5°C
    This company is on a 1.5°C pathway
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

    CONTACT ENERGY LTD. Fossil Fuel Power Generation

    Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.

  • Constellation Energy Corp. 0.31%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

  • Pg&E Corp 0.28%
    Environmental Damage

    Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.

    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

  • Rio Tinto 0.27%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

    Human Rights Abuses

    Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.

    RIO TINTO Fossil Fuel Power Generation Human Rights Abuses

    Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
    Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries.

  • Public Service Enterprise Group, Inc. 0.23%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

    PUBLIC SERVICE ENTERPRISE GROUP, INC. Fossil Fuel Power Generation

    Public Service Enterprise Group is based in the USA and supplies electricity and natural gas to customers, primarily in New Jersey. Evidence shows that electricity generated from oil and gas accounts from 15% of the company’s total revenue. However, the company is in the process of divesting from their fossil fuel assets and in 2021 they shut down their last coal-fired plant. The company now plans to focus on nuclear power and natural gas and has set a target of net-zero emissions by 2030. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.

  • E.On Se 0.21%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

  • National Grid PLC 0.21% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

    NATIONAL GRID PLC Fossil Fuel Production

    Operates electric and natural gas transmission systems in the UK and US. It also operates facilities for storing LNG. including the Grain LNG terminal in the UK which is the largest LNG facility in Europe and 8th globally.

  • Bkw AG 0.20%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

  • Verbund AG 0.20% 1.5°C
    This company is on a 1.5°C pathway
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

    VERBUND AG Fossil Fuel Power Generation

    Verbund is an Austrian electricity and natural gas company that generates 96% of its electricity from renewable sources. The company generates electricity through hydro-electric, solar, nuclear, natural gas and wind power generators, and also operates a coal power plant. The company ceased coal generation in 2020, however the Austrian government required the company to reopen the plant due to Austria facing energy shortages. Verbund also intends to improve the sustainability of its natural gas supply by converting to green hydrogen, which it plans to power from its sizeable hydroelectric capacity. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.