Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all managed balanced funds is 8.32%.
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.
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
ExxonMobil, headquartered in the USA, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company is engaged in the exploration and production of crude oil and natural gas, as well as in the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals, and specialty products. Between 2020 and 2022, the company spent on average US$1,402 million per year on exploration activities alone. After generating 1,581 million barrels of oil in 2021, the company plans to expand their operations an additional 452% in the short term (1-7 years). This is the largest amount of expansion relative to current operations of any of the major oil and gas companies. The expansion is also proposed to extend far and wide across the globe, including in Australia, Papua New Guinea, Indonesia, Malaysia, Thailand, Kazakhstan, Azerbaijan, Iraq, Qatar, UAE, Yemen, Chad, Angola, Nigeria, Equatorial Guinea, Argentina, Guyana, USA, Canada, the UK, Germany, Netherlands, and Russia. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 51.1%.
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.
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'Oréal is a personal care company and cosmetics company concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies are involved in the development or release of GMO plants and seeds.
Shell, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in the exploration and production, refining, transportation and storage of crude oil, natural gas, and natural gas liquids. Between 2020 and 2022, the company spent on average US$2,329 million per year on exploration activities alone. After generating 1,376 million barrels of oil in 2021, the company plans to expand their operations an additional 317% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK, and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 45.3%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Chevron, headquartered in the USA, is an integrated energy company with exploration, production, and refining operations worldwide. The company is the second-largest oil company in the USA and engages in hydrocarbon exploration and production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Between 2020 and 2022, the company spent on average US$1,322 million per year on exploration activities alone. After generating 1,322 million barrels of oil in 2021, the company plans to expand their operations an additional 410% in the short term (1-7 years). Aside from Exxon Mobile, this is the largest amount of expansion relative to current operations of any of the major oil and gas companies. Chevron’s expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 52.4%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Diversified personal-care, homecare, and packaged food company. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
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 is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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 shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Nestle manufactures and sells food and beverages. The company has been criticised for exploiting local water resources for its bottled water production, which has forced underprivileged communities to pay a premium for their groundwater while alternatives have been exhausted. There have also been several allegations of labour conflicts and human rights violations in Nestle’s palm oil, coffee, fruits and seafood supply chains.
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 is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries.
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.
Johnson & Johnson is the world's largest and most diverse healthcare firm. The company has been involved in repeated incidents related to the quality and safety of several of its products across all three of the company’s business segments — drugs, devices, and consumer products. Several products have been associated with allegations of severe or even fatal adverse impacts on patients.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Caterpillar, a manufacturer of heavy equipment, power solutions, and locomotives, has a history of supplying the Israeli military. In 2004, Human Rights Watch reported the use of Caterpillar D9 bulldozers in demolishing over 250 Palestinian homes in Gaza, resulting in Palestinian casualties. Subsequently, in 2017, the Israeli military acquired numerous Caterpillar heavy engineering vehicles through a significant deal. The sale was financed by the United States Government, but the deal itself was between the Israeli military and Caterpillar. Incidents involving Caterpillar equipment causing harm to Palestinians have persisted, with recent instances reported as of 2023.
These occurrences include the use of Caterpillar equipment in demolishing Palestinian homes in illegally occupied territories, constructing illegal settlements and their infrastructure on occupied land, as well as building the Separation Wall in the West Bank and the Gaza border wall. Evidence also suggests Caterpillar’s products have been used by third parties in other conflict-affected areas, including Myanmar and the Western Sahara. Caterpillar's continued supply to these conflict areas raises concerns about its complicity in the misuse of its products.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Saudi Aramco is the national oil company of Saudi Arabia and holds the exclusive right to explore for, produce, and refine the country’s hydrocarbons. It is the largest oil and gas producer in the world, and the world’s fourth-largest refiner. Between 2020 and 2022, the company spent on average US$2,199 million per year on exploration activities alone. After generating 4,345 million barrels of oil in 2021, the company plans to expand their operations an additional 45% in the short term (1-7 years), in both Suadi Arabia and Kuwait. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short term expansion overshoots the IEA Net-Zero Emissions Scenario by 57.2%.
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.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Has developed AI-based predictive policing systems. These are sold to Israeli security forces and used in surveillance of Palestinian in occupied Palestinian territories. The systems were originally designed for US immigration authorities and are used in the US to target immigrants and manage raids.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
PetroChina, the national champion that inherited the majority of Chinese onshore oil and gas assets, has developed into an international supermajor. The company engages in the exploration and production of oil and natural gas, as well as refining and operating pipelines. Between 2020 and 2022, the company spent on average US$4,951 million per year on exploration activities alone. After generating 1,932 million barrels of oil in 2021, the company plans to expand their operations an additional 124% in the short term (1-7 years), across the globe in Australia, Indonesia, China, Kazakhstan, UAE, Niger, Peru, and Canada. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 81.9%.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
ExxonMobil, headquartered in the USA, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company is engaged in the exploration and production of crude oil and natural gas, as well as in the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals, and specialty products. Between 2020 and 2022, the company spent on average US$1,402 million per year on exploration activities alone. After generating 1,581 million barrels of oil in 2021, the company plans to expand their operations an additional 452% in the short term (1-7 years). This is the largest amount of expansion relative to current operations of any of the major oil and gas companies. The expansion is also proposed to extend far and wide across the globe, including in Australia, Papua New Guinea, Indonesia, Malaysia, Thailand, Kazakhstan, Azerbaijan, Iraq, Qatar, UAE, Yemen, Chad, Angola, Nigeria, Equatorial Guinea, Argentina, Guyana, USA, Canada, the UK, Germany, Netherlands, and Russia. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 51.1%.
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.
Australia’s largest oil and gas company with the largest LNG production in the southern hemisphere. The company seeks to massively expand gas production in NW Australia, which will produce huge levels of carbon dioxide emissions over the next 50 years. Ecologists are also very concerned about Woodside’s expansion plans on important coral reef habitats.
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.
French based global oil major (7th largest in the world). In 2022 it produced 970 million barrels of oil and the company plans to expand their operations with an additional 7,970 million barrels in the short term (1-7 years). This planned term expansion overshoots the IEA Net-Zero Emissions Scenario by 57%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies are involved in the development or release of GMO plants and seeds.
Shell, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in the exploration and production, refining, transportation and storage of crude oil, natural gas, and natural gas liquids. Between 2020 and 2022, the company spent on average US$2,329 million per year on exploration activities alone. After generating 1,376 million barrels of oil in 2021, the company plans to expand their operations an additional 317% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK, and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 45.3%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Chevron, headquartered in the USA, is an integrated energy company with exploration, production, and refining operations worldwide. The company is the second-largest oil company in the USA and engages in hydrocarbon exploration and production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Between 2020 and 2022, the company spent on average US$1,322 million per year on exploration activities alone. After generating 1,322 million barrels of oil in 2021, the company plans to expand their operations an additional 410% in the short term (1-7 years). Aside from Exxon Mobile, this is the largest amount of expansion relative to current operations of any of the major oil and gas companies. Chevron’s expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 52.4%.
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.
Petroleo Brasileiro SA is headquartered in Brazil. The company’s production of hydrocarbons in 2021 was 912.0 mmboe. The company currently has 8043.4 mmboe resources under development as of 2022, and expansion countries include Brazil. The company overshoots the IEA NZA Expansion by 39.1%. Exploration CAPEX is 632.8 MUSD (3-year average 2020-2022).
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
POSCO is headquartered in South Korea and is a global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Saudi Aramco is the national oil company of Saudi Arabia and holds the exclusive right to explore for, produce, and refine the country’s hydrocarbons. It is the largest oil and gas producer in the world, and the world’s fourth-largest refiner. Between 2020 and 2022, the company spent on average US$2,199 million per year on exploration activities alone. After generating 4,345 million barrels of oil in 2021, the company plans to expand their operations an additional 45% in the short term (1-7 years), in both Suadi Arabia and Kuwait. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short term expansion overshoots the IEA Net-Zero Emissions Scenario by 57.2%.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Vale is the largest producer of iron ore and nickel in the world. Evidence shows Vale’s failure to manage risks from waste storage has resulted in two major disasters in Iron Ore Tailing Dams in Brazil. Both incidents have resulted in significant environmental pollution, the death of hundreds of employees, and severe impacts on local communities downstream. The company is also involved in the production of fossil fuels through mining thermal coal in Mozambique.
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.
BP, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company has as reportable segments: gas & low carbon energy, oil production & operations, customers & products, and Rosneft. Additionally, BP plc owns and operates crude oil and natural gas pipelines, processing facilities and NGLs extraction business.
Between 2020 and 2022, the company spent on average US$1,104 million per year on exploration activities alone. After generating 1,066 million barrels of oil in 2021, the company plans to expand their operations an additional 287% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Indonesia, India, Azerbaijan, UAE, Egypt, Mauritania, Brazil, Argentina, Bolivia, Trinidad and Tobago, USA and the UK. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 34.7%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Enel is Europe’s largest electric utilities company by market capitalisation and holds a 70.1% stake in the energy company, Endesa. Evidence shows that energy generated from fossil fuels accounts for 15% of the company’s revenues. However, the company have announced plans to abandon coal by 2027 and gas by 2040, while investing significantly in expanding their renewable energy capacity. By 2030, the company expects to have invested a total of EUR €70 billion in renewable energy. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
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.
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.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
PetroChina, the national champion that inherited the majority of Chinese onshore oil and gas assets, has developed into an international supermajor. The company engages in the exploration and production of oil and natural gas, as well as refining and operating pipelines. Between 2020 and 2022, the company spent on average US$4,951 million per year on exploration activities alone. After generating 1,932 million barrels of oil in 2021, the company plans to expand their operations an additional 124% in the short term (1-7 years), across the globe in Australia, Indonesia, China, Kazakhstan, UAE, Niger, Peru, and Canada. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 81.9%.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Walmart is 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. Walmart are currently working to improve their weapon-realted controls.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies are involved in the development or release of GMO plants and seeds.
Shell, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in the exploration and production, refining, transportation and storage of crude oil, natural gas, and natural gas liquids. Between 2020 and 2022, the company spent on average US$2,329 million per year on exploration activities alone. After generating 1,376 million barrels of oil in 2021, the company plans to expand their operations an additional 317% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK, and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 45.3%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Chevron, headquartered in the USA, is an integrated energy company with exploration, production, and refining operations worldwide. The company is the second-largest oil company in the USA and engages in hydrocarbon exploration and production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Between 2020 and 2022, the company spent on average US$1,322 million per year on exploration activities alone. After generating 1,322 million barrels of oil in 2021, the company plans to expand their operations an additional 410% in the short term (1-7 years). Aside from Exxon Mobile, this is the largest amount of expansion relative to current operations of any of the major oil and gas companies. Chevron’s expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 52.4%.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
POSCO is headquartered in South Korea and is a global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Vale is the largest producer of iron ore and nickel in the world. Evidence shows Vale’s failure to manage risks from waste storage has resulted in two major disasters in Iron Ore Tailing Dams in Brazil. Both incidents have resulted in significant environmental pollution, the death of hundreds of employees, and severe impacts on local communities downstream. The company is also involved in the production of fossil fuels through mining thermal coal in Mozambique.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
The Balanced Fund is part of the Investment Series range of funds. The fund is suited to investors who seek a medium level of returns on average over medium term periods (five years plus), allowing for shorter-term ups and downs. We aim to achieve this by investing in a mix of income and growth assets.
| Value | $95.0M NZD |
| Period of data report | 31st Dec. 2024 |
| Fund started | 31st May 2015 |
| Total annual fund fees | 2.77% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 2.64% |
| Other management and administration charges | 0.12% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Nic Craven |
Currently: Chief Investment Officer, Booster Financial Services Limited (3 years, 5 months)
|
|
David Beattie |
Currently: Chair of the Investment Committee, Booster Investment Management Limited (5 years, 10 months)
|
|
Brendon Doyle |
Currently: Investment Committee Member, Booster Investment Management Limited (0 years, 4 months)
|
|
Aaron Usher |
Currently: Portfolio Strategy Manager, Booster Financial Services Limited (3 years, 5 months)
|
|
Rowan Calvert |
Currently: Portfolio Manager - Global Equities, Booster Financial Services Limited (7 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.
| Year | Market Average | Fund Annual Return |
|---|---|---|
| 2024 | 9.61% | 8.74% |
| 2023 | -2.59% | -3.18% |
| 2022 | 1.06% | 1.21% |
| 2021 | 18.16% | 16.61% |
| 2020 | -1.83% | -2.05% |
| 2019 | 4.49% | 5.77% |
| 2018 | 4.41% | 3.93% |
| 2017 | 5.71% | 5.91% |
The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
Vanguard Ethically Conscious Gbl Agg Bond Index Fund NZD Hgd
Australia Fund
Vanguard Emerging Markets Share Index Fund
Australia Fund
Vanguard ESG US Stock ETF
United States Fund
Spdr Msci Europe Communication Services Ucits ETF
Ireland Fund
NZ Cash (BNZ Bank Trust Account)
New Zealand Cash and Equivalents A-1+
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities
Vanguard Int'L Shares Select Exclusions Fund - NZD Hgd
Australia Fund
Metrics Secured Private Debt Fund Ii
Australia Fund
Microsoft Corporation
United States International Equities
NZ Govt Stock 4.50% 15/05/2030
New Zealand NZ Fixed Interest AAA
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 2.0% | 6.66% |
| New Zealand Fixed Interest | 19.0% | 14.97% |
| International Fixed Interest | 19.0% | 18.95% |
| Australasian Equities | 20.0% | 19.3% |
| International Equities | 33.0% | 33.27% |
| Listed Properties | 2.0% | 3.01% |
| Unlisted Properties | 5.0% | 3.84% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
This data is compiled by Mindful Money from the fund information and portfolios
that each
fund has
filed with the Disclose register to 30th Sept. 2024 and Mindful Money
analysis of funds within those portfolios. The list of companies of concern has
been drawn from ratings agencies and public sources, including the Norwegian
Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.
Please note that companies may breach more than one of these areas of
concern.
The listing of companies of concern is based on definitions used in Mindful Money's
methodology. These definitions may
be different from the exclusions policy and definitions applied by the fund provider.
Mindful Money uses the term Mindful Funds as our standard
for ethical investment and responsible investment. This does not imply that
other funds are unethical or that the fund providers that do not meet these
standards are unethical providers.
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.
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
ExxonMobil, headquartered in the USA, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company is engaged in the exploration and production of crude oil and natural gas, as well as in the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals, and specialty products. Between 2020 and 2022, the company spent on average US$1,402 million per year on exploration activities alone. After generating 1,581 million barrels of oil in 2021, the company plans to expand their operations an additional 452% in the short term (1-7 years). This is the largest amount of expansion relative to current operations of any of the major oil and gas companies. The expansion is also proposed to extend far and wide across the globe, including in Australia, Papua New Guinea, Indonesia, Malaysia, Thailand, Kazakhstan, Azerbaijan, Iraq, Qatar, UAE, Yemen, Chad, Angola, Nigeria, Equatorial Guinea, Argentina, Guyana, USA, Canada, the UK, Germany, Netherlands, and Russia. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 51.1%.
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.
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'Oréal is a personal care company and cosmetics company concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies are involved in the development or release of GMO plants and seeds.
Shell, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in the exploration and production, refining, transportation and storage of crude oil, natural gas, and natural gas liquids. Between 2020 and 2022, the company spent on average US$2,329 million per year on exploration activities alone. After generating 1,376 million barrels of oil in 2021, the company plans to expand their operations an additional 317% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK, and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 45.3%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Chevron, headquartered in the USA, is an integrated energy company with exploration, production, and refining operations worldwide. The company is the second-largest oil company in the USA and engages in hydrocarbon exploration and production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Between 2020 and 2022, the company spent on average US$1,322 million per year on exploration activities alone. After generating 1,322 million barrels of oil in 2021, the company plans to expand their operations an additional 410% in the short term (1-7 years). Aside from Exxon Mobile, this is the largest amount of expansion relative to current operations of any of the major oil and gas companies. Chevron’s expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 52.4%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Diversified personal-care, homecare, and packaged food company. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
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 is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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 shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Nestle manufactures and sells food and beverages. The company has been criticised for exploiting local water resources for its bottled water production, which has forced underprivileged communities to pay a premium for their groundwater while alternatives have been exhausted. There have also been several allegations of labour conflicts and human rights violations in Nestle’s palm oil, coffee, fruits and seafood supply chains.
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 is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries.
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.
Johnson & Johnson is the world's largest and most diverse healthcare firm. The company has been involved in repeated incidents related to the quality and safety of several of its products across all three of the company’s business segments — drugs, devices, and consumer products. Several products have been associated with allegations of severe or even fatal adverse impacts on patients.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Caterpillar, a manufacturer of heavy equipment, power solutions, and locomotives, has a history of supplying the Israeli military. In 2004, Human Rights Watch reported the use of Caterpillar D9 bulldozers in demolishing over 250 Palestinian homes in Gaza, resulting in Palestinian casualties. Subsequently, in 2017, the Israeli military acquired numerous Caterpillar heavy engineering vehicles through a significant deal. The sale was financed by the United States Government, but the deal itself was between the Israeli military and Caterpillar. Incidents involving Caterpillar equipment causing harm to Palestinians have persisted, with recent instances reported as of 2023.
These occurrences include the use of Caterpillar equipment in demolishing Palestinian homes in illegally occupied territories, constructing illegal settlements and their infrastructure on occupied land, as well as building the Separation Wall in the West Bank and the Gaza border wall. Evidence also suggests Caterpillar’s products have been used by third parties in other conflict-affected areas, including Myanmar and the Western Sahara. Caterpillar's continued supply to these conflict areas raises concerns about its complicity in the misuse of its products.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Saudi Aramco is the national oil company of Saudi Arabia and holds the exclusive right to explore for, produce, and refine the country’s hydrocarbons. It is the largest oil and gas producer in the world, and the world’s fourth-largest refiner. Between 2020 and 2022, the company spent on average US$2,199 million per year on exploration activities alone. After generating 4,345 million barrels of oil in 2021, the company plans to expand their operations an additional 45% in the short term (1-7 years), in both Suadi Arabia and Kuwait. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short term expansion overshoots the IEA Net-Zero Emissions Scenario by 57.2%.
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.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Has developed AI-based predictive policing systems. These are sold to Israeli security forces and used in surveillance of Palestinian in occupied Palestinian territories. The systems were originally designed for US immigration authorities and are used in the US to target immigrants and manage raids.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
PetroChina, the national champion that inherited the majority of Chinese onshore oil and gas assets, has developed into an international supermajor. The company engages in the exploration and production of oil and natural gas, as well as refining and operating pipelines. Between 2020 and 2022, the company spent on average US$4,951 million per year on exploration activities alone. After generating 1,932 million barrels of oil in 2021, the company plans to expand their operations an additional 124% in the short term (1-7 years), across the globe in Australia, Indonesia, China, Kazakhstan, UAE, Niger, Peru, and Canada. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 81.9%.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
ExxonMobil, headquartered in the USA, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company is engaged in the exploration and production of crude oil and natural gas, as well as in the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals, and specialty products. Between 2020 and 2022, the company spent on average US$1,402 million per year on exploration activities alone. After generating 1,581 million barrels of oil in 2021, the company plans to expand their operations an additional 452% in the short term (1-7 years). This is the largest amount of expansion relative to current operations of any of the major oil and gas companies. The expansion is also proposed to extend far and wide across the globe, including in Australia, Papua New Guinea, Indonesia, Malaysia, Thailand, Kazakhstan, Azerbaijan, Iraq, Qatar, UAE, Yemen, Chad, Angola, Nigeria, Equatorial Guinea, Argentina, Guyana, USA, Canada, the UK, Germany, Netherlands, and Russia. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 51.1%.
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.
Australia’s largest oil and gas company with the largest LNG production in the southern hemisphere. The company seeks to massively expand gas production in NW Australia, which will produce huge levels of carbon dioxide emissions over the next 50 years. Ecologists are also very concerned about Woodside’s expansion plans on important coral reef habitats.
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.
French based global oil major (7th largest in the world). In 2022 it produced 970 million barrels of oil and the company plans to expand their operations with an additional 7,970 million barrels in the short term (1-7 years). This planned term expansion overshoots the IEA Net-Zero Emissions Scenario by 57%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies are involved in the development or release of GMO plants and seeds.
Shell, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in the exploration and production, refining, transportation and storage of crude oil, natural gas, and natural gas liquids. Between 2020 and 2022, the company spent on average US$2,329 million per year on exploration activities alone. After generating 1,376 million barrels of oil in 2021, the company plans to expand their operations an additional 317% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK, and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 45.3%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Chevron, headquartered in the USA, is an integrated energy company with exploration, production, and refining operations worldwide. The company is the second-largest oil company in the USA and engages in hydrocarbon exploration and production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Between 2020 and 2022, the company spent on average US$1,322 million per year on exploration activities alone. After generating 1,322 million barrels of oil in 2021, the company plans to expand their operations an additional 410% in the short term (1-7 years). Aside from Exxon Mobile, this is the largest amount of expansion relative to current operations of any of the major oil and gas companies. Chevron’s expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 52.4%.
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.
Petroleo Brasileiro SA is headquartered in Brazil. The company’s production of hydrocarbons in 2021 was 912.0 mmboe. The company currently has 8043.4 mmboe resources under development as of 2022, and expansion countries include Brazil. The company overshoots the IEA NZA Expansion by 39.1%. Exploration CAPEX is 632.8 MUSD (3-year average 2020-2022).
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
POSCO is headquartered in South Korea and is a global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Saudi Aramco is the national oil company of Saudi Arabia and holds the exclusive right to explore for, produce, and refine the country’s hydrocarbons. It is the largest oil and gas producer in the world, and the world’s fourth-largest refiner. Between 2020 and 2022, the company spent on average US$2,199 million per year on exploration activities alone. After generating 4,345 million barrels of oil in 2021, the company plans to expand their operations an additional 45% in the short term (1-7 years), in both Suadi Arabia and Kuwait. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short term expansion overshoots the IEA Net-Zero Emissions Scenario by 57.2%.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Vale is the largest producer of iron ore and nickel in the world. Evidence shows Vale’s failure to manage risks from waste storage has resulted in two major disasters in Iron Ore Tailing Dams in Brazil. Both incidents have resulted in significant environmental pollution, the death of hundreds of employees, and severe impacts on local communities downstream. The company is also involved in the production of fossil fuels through mining thermal coal in Mozambique.
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.
BP, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company has as reportable segments: gas & low carbon energy, oil production & operations, customers & products, and Rosneft. Additionally, BP plc owns and operates crude oil and natural gas pipelines, processing facilities and NGLs extraction business.
Between 2020 and 2022, the company spent on average US$1,104 million per year on exploration activities alone. After generating 1,066 million barrels of oil in 2021, the company plans to expand their operations an additional 287% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Indonesia, India, Azerbaijan, UAE, Egypt, Mauritania, Brazil, Argentina, Bolivia, Trinidad and Tobago, USA and the UK. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 34.7%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Enel is Europe’s largest electric utilities company by market capitalisation and holds a 70.1% stake in the energy company, Endesa. Evidence shows that energy generated from fossil fuels accounts for 15% of the company’s revenues. However, the company have announced plans to abandon coal by 2027 and gas by 2040, while investing significantly in expanding their renewable energy capacity. By 2030, the company expects to have invested a total of EUR €70 billion in renewable energy. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
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.
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.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
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.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
PetroChina, the national champion that inherited the majority of Chinese onshore oil and gas assets, has developed into an international supermajor. The company engages in the exploration and production of oil and natural gas, as well as refining and operating pipelines. Between 2020 and 2022, the company spent on average US$4,951 million per year on exploration activities alone. After generating 1,932 million barrels of oil in 2021, the company plans to expand their operations an additional 124% in the short term (1-7 years), across the globe in Australia, Indonesia, China, Kazakhstan, UAE, Niger, Peru, and Canada. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 81.9%.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Walmart is 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. Walmart are currently working to improve their weapon-realted controls.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies are involved in the development or release of GMO plants and seeds.
Shell, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in the exploration and production, refining, transportation and storage of crude oil, natural gas, and natural gas liquids. Between 2020 and 2022, the company spent on average US$2,329 million per year on exploration activities alone. After generating 1,376 million barrels of oil in 2021, the company plans to expand their operations an additional 317% in the short term (1-7 years). The expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK, and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 45.3%.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Chevron, headquartered in the USA, is an integrated energy company with exploration, production, and refining operations worldwide. The company is the second-largest oil company in the USA and engages in hydrocarbon exploration and production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Between 2020 and 2022, the company spent on average US$1,322 million per year on exploration activities alone. After generating 1,322 million barrels of oil in 2021, the company plans to expand their operations an additional 410% in the short term (1-7 years). Aside from Exxon Mobile, this is the largest amount of expansion relative to current operations of any of the major oil and gas companies. Chevron’s expansion is proposed to extend far and wide across the globe, including in Australia, Malaysia, Brunei, Kazakhstan, Qatar, Oman, Cameroon, Nigeria, Brazil, Argentina, Bolivia, USA, Canada, the UK and Norway. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 52.4%.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
POSCO is headquartered in South Korea and is a global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Vale is the largest producer of iron ore and nickel in the world. Evidence shows Vale’s failure to manage risks from waste storage has resulted in two major disasters in Iron Ore Tailing Dams in Brazil. Both incidents have resulted in significant environmental pollution, the death of hundreds of employees, and severe impacts on local communities downstream. The company is also involved in the production of fossil fuels through mining thermal coal in Mozambique.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
The Balanced Fund is part of the Investment Series range of funds. The fund is suited to investors who seek a medium level of returns on average over medium term periods (five years plus), allowing for shorter-term ups and downs. We aim to achieve this by investing in a mix of income and growth assets.
| Value | $95.0M NZD |
| Period of data report | 31st Dec. 2024 |
| Fund started | 31st May 2015 |
| Total annual fund fees | 2.77% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 2.64% |
| Other management and administration charges | 0.12% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Nic Craven |
Currently: Chief Investment Officer, Booster Financial Services Limited (3 years, 5 months)
|
|
David Beattie |
Currently: Chair of the Investment Committee, Booster Investment Management Limited (5 years, 10 months)
|
|
Brendon Doyle |
Currently: Investment Committee Member, Booster Investment Management Limited (0 years, 4 months)
|
|
Aaron Usher |
Currently: Portfolio Strategy Manager, Booster Financial Services Limited (3 years, 5 months)
|
|
Rowan Calvert |
Currently: Portfolio Manager - Global Equities, Booster Financial Services Limited (7 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.
| Year | Market Average | Fund Annual Return |
|---|---|---|
| 2024 | 9.61% | 8.74% |
| 2023 | -2.59% | -3.18% |
| 2022 | 1.06% | 1.21% |
| 2021 | 18.16% | 16.61% |
| 2020 | -1.83% | -2.05% |
| 2019 | 4.49% | 5.77% |
| 2018 | 4.41% | 3.93% |
| 2017 | 5.71% | 5.91% |
The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
Vanguard Ethically Conscious Gbl Agg Bond Index Fund NZD Hgd
Australia Fund
Vanguard Emerging Markets Share Index Fund
Australia Fund
Vanguard ESG US Stock ETF
United States Fund
Spdr Msci Europe Communication Services Ucits ETF
Ireland Fund
NZ Cash (BNZ Bank Trust Account)
New Zealand Cash and Equivalents A-1+
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities
Vanguard Int'L Shares Select Exclusions Fund - NZD Hgd
Australia Fund
Metrics Secured Private Debt Fund Ii
Australia Fund
Microsoft Corporation
United States International Equities
NZ Govt Stock 4.50% 15/05/2030
New Zealand NZ Fixed Interest AAA
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 2.0% | 6.66% |
| New Zealand Fixed Interest | 19.0% | 14.97% |
| International Fixed Interest | 19.0% | 18.95% |
| Australasian Equities | 20.0% | 19.3% |
| International Equities | 33.0% | 33.27% |
| Listed Properties | 2.0% | 3.01% |
| Unlisted Properties | 5.0% | 3.84% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
