Global investment funds driving increased fossil fuel investment

29th Oct. 2019

From Nine to Noon, Radio NZ 29 October 2019 Climate change awareness and action is on the rise, but to what extent are New Zealanders investing in one of the main drivers of climate change - the fossil fuel industry?

KiwiSaver funds invested in the top 20 polluters totals $502million

Research by The Guardian newspaper found the top three largest money managers in the world have a $300 billion US dollar investment portfolio in fossil fuels. The investment by US index fund firms Vanguard, BlackRock and State Street, known as the Big Three, has surged more than 34% since 2016. Kathryn is joined by Patrick Greenfield, who's been researching the story for The Guardian newspaper, along with Dr Bart Frijns, who's the director of the Centre for Financial Research at AUT and Barry Coates, who set up Mindful Money, a charity which helps Kiwis with ethical investing.

Link: https://www.rnz.co.nz/national/programmes/ninetonoon/audio/2018719728/investment-funds-driving-increased-fossil-fuel-investment