Funds
OneAnswer MAC Conservative Fund
Issues of concern
The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.
Key:
- Human Rights Violations
- Environmental Harm
- Animal Cruelty
- Weapons
- Fossil Fuels
- Social Harm
Companies of concern
Human Rights Violations
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Nestle SA-Reg 0.17%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
NESTLE SA-REG Human Rights Abuses
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.
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Thermo Fisher Scientific Inc 0.14%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
THERMO FISHER SCIENTIFIC INC Human Rights Abuses
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.
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Credit Suisse Group AG 0.11%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
CREDIT SUISSE GROUP AG Business Ethics
Credit Suisse provides investment banking services. It has faced regulatory and legal actions related to aiding tax evasion, money laundering, corporate espionage, fraud, and breach of trade secrets. It has also been involved in multiple lawsuits related to its governance.
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Nestle Holdings Inc 0.04%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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Rio Tinto Ltd 0.04%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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Motorola Solutions Inc 0.03%
War & Conflict
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.
MOTOROLA SOLUTIONS INC War & Conflict
Motorola is an American provider of communication products, video equipment, telecommunications equipment, software, systems, and services. Motorola Solutions and its subsidiary, Motorola Israel, have been accused of complicity in human rights violations due to its sale of communication products to the Israeli Ministry of Defence in the occupied Palestinian territories. Israeli settlements in occupied Palestinian territories are deemed illegal under international law and the United Nations Human Rights Council Report 2023 has identified Motorola as a company providing services supporting the maintenance and existence of these settlements. As of 2023, Motorola is the sole supplier of the 4G cellular network for the Israeli Military and provides their surveillance and security system, which research shows is being used for border surveillance in the occupied Palestinian territories.
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Caterpillar Finl Service 0.01%
War & Conflict
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 FINL SERVICE War & Conflict
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. -
Johnson & Johnson 0.01%
Public Safety
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 Public Safety
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.
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Wells Fargo & Company 0.01%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
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Nestle SA-Reg 0.17%
Environmental Harm
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BHP Group Ltd 0.10%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
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Duke Energy Corp 0.05%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
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Bayer AG-Reg 0.04%
Animal Testing
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.
GMOs
Where companies are involved in the development or release of GMO plants and seeds.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
BAYER AG-REG Animal Testing GMOs Highly Hazardous Pesticides
Bayer CropScience is a chemicals company engaged in the development, manufacture and sale of insecticides, rodenticides, fungicides and herbicides. Based on the revenue data from fiscal year 2022, Bayer CropScience derived an estimated 75% of its revenue from the production and/or distribution of pesticides, particularly those classified as highly hazardous. The company is also active in plant biotechnology and the development of genetically modified seeds, and states that it tests some of its products on animals.
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Shell International Fin 0.04%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
SHELL INTERNATIONAL FIN Animal Testing Environmental Damage Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $2,015 million per year on exploration activities alone. After generating 1,250 million barrels of oil in 2023, the company plans to expand their operations an additional 5,650 million barrels 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 66.5%.
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3M Co 0.03%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
3M CO Animal Testing Environmental Damage
3M Co is a diversified technology company that has been fined in recent years for environmental non-compliance, regarding the pollution of rivers, waterways and groundwater with toxic chemicals, broadly referred to as per- and polyfluoroalkyl substances (PFAS). 3M Co also states it uses laboratory animals in the research and development of some products and is therefore considered to be involved in animal testing.
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Shell PLC 0.02%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
SHELL PLC Animal Testing Environmental Damage Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $2,015 million per year on exploration activities alone. After generating 1,250 million barrels of oil in 2023, the company plans to expand their operations an additional 5,650 million barrels 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 66.5%.
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Bunge Ltd Finance Corp 0.01%
Deforestation
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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Nutrien Ltd 0.01%
Animal Testing
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.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
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BHP Group Ltd 0.10%
Animal Cruelty
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LVMH Moet Hennessy Louis Vui 0.12%
Animal Welfare Issues
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.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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Air Liquide SA 0.07%
Animal Testing
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.
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PPG Industries Inc 0.07%
Animal Testing
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.
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Intl Flavors & Fragrances 0.05%
Animal Testing
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.
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Rentokil Initial PLC 0.05%
Animal Testing
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.
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Akzo Nobel N.V. 0.04%
Animal Testing
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.
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Bayer AG-Reg 0.04%
Animal Testing
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.
GMOs
Where companies are involved in the development or release of GMO plants and seeds.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
BAYER AG-REG Animal Testing GMOs Highly Hazardous Pesticides
Bayer CropScience is a chemicals company engaged in the development, manufacture and sale of insecticides, rodenticides, fungicides and herbicides. Based on the revenue data from fiscal year 2022, Bayer CropScience derived an estimated 75% of its revenue from the production and/or distribution of pesticides, particularly those classified as highly hazardous. The company is also active in plant biotechnology and the development of genetically modified seeds, and states that it tests some of its products on animals.
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Shell International Fin 0.04%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
SHELL INTERNATIONAL FIN Animal Testing Environmental Damage Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $2,015 million per year on exploration activities alone. After generating 1,250 million barrels of oil in 2023, the company plans to expand their operations an additional 5,650 million barrels 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 66.5%.
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3M Co 0.03%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
3M CO Animal Testing Environmental Damage
3M Co is a diversified technology company that has been fined in recent years for environmental non-compliance, regarding the pollution of rivers, waterways and groundwater with toxic chemicals, broadly referred to as per- and polyfluoroalkyl substances (PFAS). 3M Co also states it uses laboratory animals in the research and development of some products and is therefore considered to be involved in animal testing.
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Burberry Group PLC 0.03%
Animal Testing
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.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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Colgate-Palmolive Co 0.02%
Animal Testing
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.
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Hermes International 0.02%
Animal Welfare Issues
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.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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L'Oreal 0.02%
Animal Testing
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'OREAL Animal Testing
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.
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Orica Ltd 0.02%
Animal Testing
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.
Fossil Fuel Production
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.
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Procter & Gamble Co/The 0.02%
Animal Testing
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.
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Shell PLC 0.02%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
SHELL PLC Animal Testing Environmental Damage Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $2,015 million per year on exploration activities alone. After generating 1,250 million barrels of oil in 2023, the company plans to expand their operations an additional 5,650 million barrels 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 66.5%.
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Sherwin-Williams Co/The 0.02%
Animal Testing
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.
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Akzo Nobel Nv 0.01%
Animal Testing
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.
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Arkema 0.01%
Animal Testing
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.
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Church & Dwight Co Inc 0.01%
Animal Testing
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.
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Dow Chemical Co/The 0.01%
Animal Testing
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.
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Intl Flavor & Fragrances 0.01%
Animal Testing
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.
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Kering 0.01%
Animal Welfare Issues
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.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
KERING Animal Welfare Issues Fur & Speciality Leather
Kering specialises in luxury goods. Evidence shows the company makes several products, including bags, and watch straps from exotic leather, such as crocodile, python and ostrich leather and states that most of its houses do not use fur.
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Koninklijke Ahold Delhaize N 0.01%
Animal Testing
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.
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L'Oreal SA 0.01%
Animal Testing
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'OREAL SA Animal Testing
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.
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Nutrien Ltd 0.01%
Animal Testing
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.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
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Unilever Capital Corp 0.01%
Animal Testing
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.
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Unilever Finance 0.01%
Animal Testing
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.
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Yara International Asa 0.01%
Animal Testing
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.
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LVMH Moet Hennessy Louis Vui 0.12%
Weapons
Fossil Fuels
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Contact Energy Ltd 0.17%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
CONTACT ENERGY LTD Fossil Fuel Power Generation
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.
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BHP Group Ltd 0.10%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
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Genesis Energy Ltd 0.08%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
GENESIS ENERGY LTD Fossil Fuel Power Generation
Genesis Energy is engaged in energy generation, trading and selling of electricity, and owns a portfolio of fossil fuel and renewable generation assets across New Zealand. Evidence shows that thermal generation from gas represents a significant portion of the company's total power generation (from the Huntly power station), and that oil and gas power revenues represent approximately 35% of the company's total revenue.
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American Electric Power 0.05%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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Duke Energy Corp 0.05%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
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Ameren Corporation 0.04%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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National Grid PLC 0.04%
Fossil Fuel Production
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.
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Nisource Inc 0.04%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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Oneok Inc 0.04%
Fossil Fuel Production
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.
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Rio Tinto Ltd 0.04%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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Sempra Energy 0.04%
Fossil Fuel Production
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.
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Shell International Fin 0.04%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
SHELL INTERNATIONAL FIN Animal Testing Environmental Damage Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $2,015 million per year on exploration activities alone. After generating 1,250 million barrels of oil in 2023, the company plans to expand their operations an additional 5,650 million barrels 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 66.5%.
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Totalenergies Se 0.04%
Fossil Fuel Production
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.
TOTALENERGIES SE Fossil Fuel Production
TotalEnergies, headquartered in France, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in oil and gas exploration, production, refining, storage and transportation, as well as in the production of petrochemicals and specialty chemicals. Between 2021 and 2023, the company spent an average of USD $990 million per year on exploration activities alone. After generating 970 million barrels of oil in 2023, the company plans to expand their operations an additional 7,970 million barrels in the short term (1-7 years).
Expansion countries include Uganda, Australia, Papua New Guinea, Azerbaijan, Iraq, Qatar, UAE, Oman, Egypt, Libya, Kenya, Mozambique, Angola, Congo, Cameroon, Nigeria, Brazil, Argentina, USA, Norway, Denmark, 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 57.1%. -
Woodside Energy Group Ltd 0.04%
Fossil Fuel Production
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.
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Cassa Depositi E Prestit 0.03%
Fossil Fuel Production
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.
-
Edp-Energias De Portugal SA 0.03%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
EDP-ENERGIAS DE PORTUGAL SA Fossil Fuel Power Generation
EDP is a Portugal’s largest generator and distributor of electricity. Evidence shows that 12.5% of the company’s revenue was is generated from fossil fuels, including 5% from coal-fired plants and 7.5% from oil and gas. However, EDP have committed to being coal-free by 2025 and carbon neutral by 2030. The decision to shut down rather than offload their fossil fuel assets contrasts with many other energy companies who instead choose to sell up when faced with dropping profits or a need to improve their sustainability credentials. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Enbridge Inc 0.03%
Fossil Fuel Production
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.
-
Entergy Corp 0.03%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Intertek Group PLC 0.03%
Fossil Fuel Production
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.
-
Korea Electric Power Co 0.03%
Fossil Fuel Production
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.
-
Marathon Petroleum Corp 0.03%
Fossil Fuel Production
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.
-
Santos Ltd 0.03%
Fossil Fuel Production
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.
-
Vopak 0.03%
Fossil Fuel Production
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.
-
Woodside Finance Ltd 0.03%
Fossil Fuel Production
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.
-
Aker BP Asa 0.02%
Fossil Fuel Production
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.
-
Cheniere Energy Inc 0.02%
Fossil Fuel Production
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.
-
Dominion Energy Inc 0.02%
Fossil Fuel Production
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.
-
Iberdrola Intl Bv 0.02%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Orica Ltd 0.02%
Animal Testing
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.
Fossil Fuel Production
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.
-
Shell PLC 0.02%
Animal Testing
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.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
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.
SHELL PLC Animal Testing Environmental Damage Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $2,015 million per year on exploration activities alone. After generating 1,250 million barrels of oil in 2023, the company plans to expand their operations an additional 5,650 million barrels 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 66.5%.
-
Xcel Energy Inc 0.02%
Fossil Fuel Production
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.
-
Ampol Ltd 0.01%
Fossil Fuel Production
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 Capital Markets PLC 0.01%
Fossil Fuel Production
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 CAPITAL MARKETS PLC Fossil Fuel Production
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 2021 and 2023, the company spent an average of USD $858 million per year on exploration activities alone. After generating 1,060 million barrels of oil in 2023, the company plans to expand their operations an additional 2,550 million barrels 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 49.8%.
-
Ccep Finance Ireland Dac 0.01%
Fossil Fuel Production
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.
-
Edp Finance Bv 0.01%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Enel Finance Intl Nv 0.01%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Kinder Morgan Inc 0.01%
Fossil Fuel Production
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.
-
Mitsui & Co Ltd 0.01%
Fossil Fuel Production
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.
-
Nextera Energy Capital 0.01%
Fossil Fuel Production
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.
-
OMV AG 0.01%
Fossil Fuel Production
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.
-
Public Service Enterpris 0.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
PUBLIC SERVICE ENTERPRIS Fossil Fuel Power Generation
Public Service Enterprise Group is based in the USA and supplies electricity and natural gas to customers, primarily in New Jersey. Evidence shows that electricity generated from oil and gas accounts from 15% of the company’s total revenue. However, the company is in the process of divesting from their fossil fuel assets and in 2021 they shut down their last coal-fired plant. The company now plans to focus on nuclear power and natural gas and has set a target of net-zero emissions by 2030. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Santos Finance Ltd 0.01%
Fossil Fuel Production
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.
-
Southern Co 0.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Total SA 0.01%
Fossil Fuel Production
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.
-
Totalenergies Cap Intl 0.01%
Fossil Fuel Production
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.
TOTALENERGIES CAP INTL Fossil Fuel Production
TotalEnergies, headquartered in France, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in oil and gas exploration, production, refining, storage and transportation, as well as in the production of petrochemicals and specialty chemicals. Between 2021 and 2023, the company spent an average of USD $990 million per year on exploration activities alone. After generating 970 million barrels of oil in 2023, the company plans to expand their operations an additional 7,970 million barrels in the short term (1-7 years).
Expansion countries include Uganda, Australia, Papua New Guinea, Azerbaijan, Iraq, Qatar, UAE, Oman, Egypt, Libya, Kenya, Mozambique, Angola, Congo, Cameroon, Nigeria, Brazil, Argentina, USA, Norway, Denmark, 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 57.1%. -
Valero Energy Corp 0.01%
Fossil Fuel Production
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.
-
Valero Energy Partners 0.01%
Fossil Fuel Production
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.
-
Contact Energy Ltd 0.17%
1.5°C
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. 2023 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.
About this fund
In their own words
The Conservative Fund invests mainly in income assets (cash and cash equivalents and fixed interest), with a smaller exposure to growth assets (equities, listed property and listed infrastructure).The fund may also invest in alternative assets. The Conservative Fund aims to achieve (after the fund charge and before tax) over the long term low relatively stable returns, allowing for small ups and downs in value.
| Value | $93.1M NZD |
| Period of data report | 31st Dec. 2023 |
| Fund started | 15th April 2010 |
| Total annual fund fees | 0.65% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.56% |
| Other management and administration charges | 0.09% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Mathew Young |
Currently: Acting Chief Investment Officer* and Head of FX Strategy and Implementation (4 years, 10 months) |
|
Maaike Van Tol |
Currently: Head of Asset Allocation (4 years, 10 months) |
|
Helen Skinner |
Currently: Head of Responsible Investing (1 years, 7 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.
Past Returns
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 |
|---|---|---|
| 2023 | -1.56% | -2.44% |
| 2022 | -0.95% | -0.41% |
| 2021 | 8.70% | 7.27% |
| 2020 | 0.08% | 1.76% |
| 2019 | 4.31% | 3.79% |
| 2018 | 3.39% | 2.89% |
| 2017 | 3.28% | 2.28% |
| 2016 | 2.92% | 3.16% |
| 2015 | 8.63% | 8.54% |
| 2014 | 5.69% | 3.31% |
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. 2023.
Top 10 Investments
-
United States Notes Fixed 1.375% - Repurchase Agreement
United States Cash and Equivalents3.64% -
United States Notes Fixed 3.5% - Repurchase Agreement
United States Cash and Equivalents1.8% -
United States Notes Fixed 2.875% - Repurchase Agreement
United States Cash and Equivalents1.78% -
New Zealand Government 14/04/2033 3.50%
New Zealand NZ Fixed Interest AAA1.15% -
ASB Registered Certificate Of Deposit 19/02/2024
New Zealand Cash and Equivalents A-1+0.91% -
New Zealand Government 15/04/2027 4.5%
New Zealand NZ Fixed Interest AAA0.9% -
Cash Deposit (J.P. Morgan USD)
United States Cash and Equivalents A-10.82% -
New Zealand Government 20/04/2029 3%
New Zealand NZ Fixed Interest AAA0.77% -
New Zealand Government 15/05/2028 0.25%
New Zealand NZ Fixed Interest AAA0.71% -
New Zealand Government 15/04/2025 2.75%
New Zealand NZ Fixed Interest AAA0.69%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 20.0% | 18.97% |
| New Zealand Fixed Interest | 15.0% | 16.68% |
| International Fixed Interest | 45.0% | 46.39% |
| Australasian Equities | 3.5% | 3.42% |
| International Equities | 13.5% | 11.42% |
| Listed Properties | 2.25% | 2.38% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.75% | 1.03% |
| Commodities | 0.0% | 0.0% |
Investment Mix
How the money in this fund is invested against the fund's targets.
Target
Actual
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.