Generate KiwiSaver Conservative Fund

Companies of Concern

• Animal Cruelty 0.23%

  • LVMH Moët Hennessy Louis Vuitton Se

    0.18%

    0.18%
    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.

  • Hermès International Sca

    0.06%

    0.06%
    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).

• Human Rights Violations 0.65%

  • Meta Platforms, Inc.

    0.52%

    0.52%
    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

    The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.

  • Uber Technologies, Inc.

    0.08%

    0.08%
    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

    A ride and food delivery service provider. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage, and providing the same benefits and rights as traditional taxi companies.

  • Thermo Fisher Scientific

    0.05%

    0.05%
    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 that DNA sequencing products continue to be distributed in China, despite the company announcing it would halt sales to the region.

• Social Harm 0.05%

  • Metcash Ltd.

    0.05%

    0.05%
    Alcohol

    Where companies are involved in the production or retail of alcoholic beverages, or alcohol-related products and services.

• Fossil Fuels 1.06%

  • Contact Energy Ltd.

    0.76%

    1.5°C

    This company is on a 1.5°C pathway

    0.76%
    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

    One of Aotearoa New Zealand’s largest electric utilities companies. Operates three thermal power stations that employ gas and diesel. In FY2024, 81% of the energy Contact generated came from renewable energy (lower than in 2023 due to a dry winter). However, at the end of 2024 Contact opened a major new geothermal renewable facility - the Tauhara plant. It is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.

  • Cheniere Energy, Inc.

    0.23%

    !!

    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

    0.23%
    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.

  • Delta Air Lines, Inc.

    0.07%

    0.07%
    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.

• Weapons 0.32%

  • Amphenol Corp.

    0.18%

    0.18%
    Military Weapons

    Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.

  • Walmart, Inc.

    0.14%

    0.14%
    Firearms

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

    Walmart, Inc. Firearms

    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 (less than 1% given scale of other lines). Walmart operates stricter controls on firearms than required by US federal law.

• Environmental Harm 0.92%

  • Fonterra

    0.83%

    0.83%
    Environmental Damage

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

    Fonterra Environmental Damage

    Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.

  • Coca-Cola Bottler

    0.06%

    0.06%
    Environmental Damage

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

    Coca-Cola Bottler Environmental Damage

    Manufacture and bottle Coca-Cola beverages under licence. Collectively the Coca-Cola related entities produce the most plastic rubbish in our oceans at 3 million tons of plastic packaging annually, which has devastating impacts on our oceans, wreaking havoc on wildlife and sending plastic particles into the food chain.

  • Coca-Cola

    0.03%

    0.03%
    Environmental Damage

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