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KiwiSaver is changing to match Kiwis' moral values, but needs to go further
9th Oct. 2019
KiwiSaver fund providers still lag the government-run NZ Super Fund's ethical lead, and there's growing pressure on KiwiSaver providers to go further in cleaning up their funds.
By Rob Stock in Stuff 9 October 2019
KiwiSaver is changing to match Kiwis' moral values, but needs to go further
KiwiSaver fund providers still lag the government-run NZ Super Fund's ethical lead, and there's growing pressure on KiwiSaver providers to go further in cleaning up their funds. Since 2015 it’s gradually dawned on the public that KiwiSaver money was invested in companies involved with weapons banned under New Zealand law, and international treaties, as well as tobacco. Since then KiwiSaver providers have come to accept that they must invest to reflect the moral consensus of their three million investors. But Simon O'Connor from the Responsible Investment Association Australasia (RIAA) says they need to do more. At the least KiwiSaver default funds should align their investing to the NZ Government's commitment to the Paris Agreement on limiting climate change, and the newly-passed Zero Carbon Act.
Link: https://www.stuff.co.nz/business/115883727/how-kiwisaver-is-changing-to-match-kiwis-moral-values