Funds
Tempo Lower Carbon 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
-
Meta Platforms Inc-Class A 1.55%
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.
META PLATFORMS INC-CLASS A Public Safety
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.
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Johnson & Johnson 0.60%
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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Thermo Fisher Scientific Inc 0.42%
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.
-
Motorola Solutions Inc 0.27%
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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Uber Technologies Inc 0.19%
Labour Rights Violations
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 TECHNOLOGIES INC Labour Rights Violations
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.
-
Alstom 0.14%
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.
ALSTOM War & Conflict
Alstom is a French multinational transport and energy infrastructure corporation which operates worldwide in rail transport markets. Alstom is a major partner in the Jerusalem Light Rail (JLR), a project that will help cement Israel's hold on occupied East Jerusalem and tie the surrounding settlements even more firmly into the State of Israel. The JLR will link west Jerusalem to illegal Israeli settlements in Occupied East Jerusalem and will facilitate travel between West Jerusalem and the illegal Israeli settlements in the West Bank. Israeli settlements in occupied Palestinian territories are deemed illegal under international law and have been linked to severe human rights violations.
-
Ubs Group AG-Reg 0.07%
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.
-
Wells Fargo & Co 0.04%
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.
WELLS FARGO & CO Business Ethics
Well Fargo is one of the largest banks in the United States. From 2002 to 2016, Wells Fargo employees created 3.5 million unauthorised customer accounts to meet sales targets. These accounts generated improper fees and negatively affected customers' credit scores. The fake accounts, aggressive sales practices, alleged price fixing, and mistreatment of whistleblowers have led to lawsuits against Wells Fargo, raising concerns about the company's business ethics.
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Palantir Technologies Inc-A 0.03%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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.
-
Meta Platforms Inc-Class A 1.55%
Animal Cruelty
-
Novozymes A/S-B Shares 0.36%
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.
-
LVMH Moet Hennessy Louis Vui 0.29%
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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Sherwin-Williams Co 0.22%
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 0.19%
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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Givaudan-Reg 0.10%
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.
-
PPG Industries Inc 0.10%
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.
-
Church & Dwight Co Inc 0.08%
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.
-
Estee Lauder Co 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.
ESTEE LAUDER CO INC Animal Testing
Estee Lauder is a multinational cosmetics company, a manufacturer and marketer of makeup, skincare, fragrance, and hair care products. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
-
Hermes International 0.06%
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 0.04%
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).
-
Shiseido Co Ltd 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.
-
Beiersdorf AG 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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Novozymes A/S-B Shares 0.36%
Weapons
-
Amphenol Corp 0.31%
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
-
Transdigm Group Inc 0.21%
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
-
Heico Corp 0.16%
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
-
L3Harris Technologies Inc 0.14%
Controversial Weapons
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Nuclear Weapons
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
L3HARRIS TECHNOLOGIES INC Controversial Weapons Firearms Military Weapons Nuclear Weapons
L3Harris Technologies provides products for the command, control, communications, computers, intelligence, surveillance, and reconnaissance, or C4ISR, market. The company manufactures components that are integrated into multiple weapons systems. There is evidence these weapons systems have been used by the Israeli military in Gaza and linked to severe suffering and human rights violations. The company also makes weapons with depleted uranium, although there is no evidence these have been supplied to Israel.
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Teledyne Technologies Inc 0.13%
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
-
Walmart Inc 0.13%
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
WALMART INC Firearms
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.
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Booz Allen Hamilton Holdings 0.03%
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
-
Amphenol Corp 0.31%
Fossil Fuels
-
Iberdrola SA 0.37%
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.
IBERDROLA SA Fossil Fuel Power Generation
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.
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Dassault Systemes 0.30%
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.
-
Northland Power Inc 0.12%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Verbund AG 0.11%
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.
VERBUND AG Fossil Fuel Power Generation
Verbund is an Austrian electricity and natural gas company that generates 96% of its electricity from renewable sources. The company generates electricity through hydro-electric, solar, nuclear, natural gas and wind power generators, and also operates a coal power plant. The company ceased coal generation in 2020, however the Austrian government required the company to reopen the plant due to Austria facing energy shortages. Verbund also intends to improve the sustainability of its natural gas supply by converting to green hydrogen, which it plans to power from its sizeable hydroelectric capacity. 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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Bkw AG 0.10%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Constellation Energy 0.02%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Iberdrola SA 0.37%
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 31st March 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.
About this fund
In their own words
Aims to track the investment performance of a market index comprised of a portfolio of shares that reduces exposure to transition and physical climate risks, by investing in an international passively managed exchange traded fund.
| Value | $48.8k NZD |
| Period of data report | 30th June 2024 |
| Fund started | 16th Aug. 2023 |
| Total annual fund fees | 1.05% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.85% |
| Other management and administration charges | 0.2% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Neil Paviour-Smith |
Currently: Director of Forsyth Barr Investment Management Limited (current) (16 years, 4 months) |
|
Penny Hogg |
Currently: Director, Strategic Operations, Forsyth Barr Limited (1 years, 7 months) |
|
Matt Henry |
Currently: Head of Wealth Management Research, Forsyth Barr Limited (4 years, 11 months) |
|
Chelsea Leadbetter |
Currently: Head of Wealth Development, Forsyth Barr Limited (2 years, 1 months) |
|
Melissa Platt |
Currently: Senior Analyst, Wealth Management Research (2 years, 2 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 2024.
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 |
|---|
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 30th June 2024.
Top 10 Investments
-
Ishares Msci World Paris-Aligned Climates Ucits ETF
Switzerland International Equities94.91% -
BNZ Transactional Bank Account
New Zealand Cash and Equivalents AA-5.09%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 5.09% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 100.0% | 94.91% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| 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 30th June 2024.