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Getting beyond greenwash: Which funds are walking the talk?

10th March 2022

Ethical investment is on the rise in New Zealand. Most funds claim to be responsible, but billions of dollars are still invested in companies that New Zealanders wants to avoid.


Ethical investment is on the rise in New Zealand. Most funds claim to be responsible, but billions of dollars are still invested in companies that New Zealanders wants to avoid. 

We are launching a new set of badges that helps identify the reality of where their money is invested, focusing on key issues of public concern - Fossil Fuels, Animal Cruelty, and Weapons.

Funds with Fossil Fuel Free Badges

74% of New Zealanders want to exclude fossil fuels from their investments, but New Zealand investors provide $2.8 billion in investment to companies that provide oil, gas, and coal in KiwiSaver and retail investment funds.

"350 Aotearoa welcomes Mindful Money's new Fossil Fuel badge for KiwiSaver providers to make it easier for engaged citizens to decide that their money shall no longer prop the industry most responsible for climate collapse." Alva Feldmeier, Executive Director of 350 Aotearoa.

The following is a list of those funds that have a policy to avoid investing in fossil fuel producers, and have fully excluded them from their portfolio (Mindful Money measures the level of investment down to 0.01% of the portfolio).

KiwiSaver funds:

Investment funds:

Funds with Animal Cruelty Free Badges

85% of Kiwis think it’s important not to invest in cosmetic companies that test their products on animals. Yet a huge $3.4 billion dollars is invested in companies that test their products on animals for non-pharmaceutical use.

“Animal testing for cosmetic purposes inflicts unnecessary harm and death to 500,000 animals annually worldwide. NZAVS is thrilled that Mindful Money’s Animal Cruelty Free badge provides certainty for New Zealanders that their money is not supporting this practice.” Tara Jackson Executive Director for NZAVS.

Currently, there is only one KiwiSaver fund provider in New Zealand that has an animal cruelty free badge.

Funds with Weapons Free Badges

81% of Kiwis think it’s important not to invest in weapons manufacturing. However, investments in weapons by New Zealand funds totals $391 million, including $15 million in companies that produce nuclear weapons.

“The proliferation of nuclear weapons and other armaments undermines peace, security and human rights. New Zealanders’ funds should not be used for weapons production. These badges will show Kiwis that they have a choice to go weapons free.” Alyn Ware, Peace Educator and Nuclear Disarmament Expert.

KiwiSaver funds:

Investment funds: