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Analysis of Climate-Related Disclosures and Financed Carbon Footprint
11th Aug. 2026
Inaugural CRD report: A comparison of carbon emissions across KiwiSaver and other investments
Mindful Money has, for the first time, compared the carbon emissions financed by New Zealand's KiwiSaver and managed investment funds.
Mandatory reporting is required to provide robust and comparable reporting for the fund management industry, for informed decision-making by investors and for the sound allocation of investment resources.
Key Findings:
The report analysis examined the first full year of mandatory Climate-Related Disclosures (CRD) from 18 fund managers, covering 60 individual KiwiSaver funds and multiple managed funds.
- Of the 22 climate statements reviewed, only eight disclosed their financed emissions in a way that allowed meaningful comparison.
- The results show there is a wide range in the estimated greenhouse gas (GHG) emissions for the eight funds analysed.
- For KiwiSaver funds, the lowest emissions were the Pie/Juno Growth Fund at 10.5 tonnes of carbon dioxide equivalent per $ million invested, and the highest was the ASB Growth Fund at 43.9 tonnes.
“This research shows that comparison is possible, but clear rules are needed to ensure reporting is consistent. Some fund managers are doing the work to measure and disclose their financed emissions properly but others are providing almost no information at all. Kiwis who want their retirement savings aligned with a low-carbon future need clear and comparable climate reporting, and the ability to influence the climate footprint of their hard-earned savings.” - Barry Coates Founder & Co-CEO Mindful Money