Govt caught acting unethically over cluster bomb investments

Information uncovered by the Green Party showing the Government’s $31 billion ACC Investment Fund has been illegally investing New Zealanders’ money into cluster munitions companies is further evidence of National’s disregard for the laws and ethics of investment.

The Green Party asked the ACC Fund in November 2015 whether it had any exposure to illegal investments in cluster munitions companies through pooled or collective investment vehicles. Seventy-six working days later*, the ACC Fund admitted that it had $1.4 million invested in cluster munitions and nuclear weapons manufacturer Lockheed Martin. Before responding to the Green Party’s request for information, however, ACC sold its Lockheed investment and updated its ethical investment policy.

“Once again, funds that the National Government is directly responsible for have been caught out investing illegally and immorally,” Green Party finance spokesperson Julie Anne Genter said.

“New Zealanders care deeply about whether or not their money is being used to do harm elsewhere. It’s time the National Government did too.

“It is both unethical and illegal for funds to be invested in companies that manufacture cluster bombs, and the ACC Fund has been caught doing so by our request for information under the Official Information Act.

“Cluster bombs kill and maim tens of thousands of innocent people every year long after fighting has ceased.

“These weapons blow innocent kids’ legs off and it’s time the Government set up strong rules about profiting from investments in the companies that make these weapons.

“National signed the Cluster Bomb Convention into law in 2009. They need to take responsibility for it and ensure government funds and KiwiSaver funds don’t invest in companies which make money from manufacturing illegal weapons of war.

“The Government needs to walk its talk and set some basic ethical standards for investment,” said Ms Genter.

Link to ACC response to the Green Party:
ACC1

ACC2

* !

Volunteer

The Greens are proud to be driven by passionate people like you. Today we need your help to take action on the biggest issues facing New Zealand.

Action

Save Auckland's Climate Budget

Sign the petition to stop Mayor Wayne Brown's proposal for dangerous cuts to climate and environmental programmes that protect us from extreme weat...

Action

No New Mines 2023

Action

Expand Voting

Now more than ever, young people in Aotearoa are impacted by Government decisions, and they deserve to have a say. We are calling on all Members of...

Action

End Intensive Winter Grazing

Sign the petition to Labour Ministers, to move faster in bringing regulations into force and end intensive winter grazing.

Action

Trains for Climate

Add your name to our open letter urging the Minister for Finance Grant Robertson to save our passenger trains between Wellington, the Wairarapa and...

Action

Healthy Oceans 2022

Join our Healthy Oceans Crew to help us keep the health and protection of our oceans high on the Labour Government’s political agenda.

Action

It's time: A Ministry for Rainbow Communities

Join our call asking the Prime Minister to establish a Ministry for Rainbow Communities that can champion Rainbow issues.

Action

No new mines on conservation land

Sign the open letter asking Labour Ministers to stick to their promise of banning new mining projects on conservation land.

Action

Allow community ownership of our buses

Public transport is an essential service and helps to tackle the climate crisis by reducing our carbon emissions. But there are barriers to communi...

Action

Local Events

We have activists across Aotearoa / New Zealand who are working hard to build a brighter future for our kids and grandkids. This page lists upcomin...

Latest Finance Announcements

Story

Tax the banks

Instead of creating an appeal fund and one-off lotto draw, the Labour Government could tax the billions of dollars banks have made in unearned, exc...

Urgent action needed to support families

The tools exist to help families with surging costs – and as costs continue to rise it is more urgent than ever that we use them, the Green Party ...

BPS constraints risk impacting low income people the most

The Government will constrain itself unnecessarily at Budget 2023 unless it changes the tax system to raise revenue from the wealthiest few which c...

Case for excess profit tax on banks clearer than ever

The Government should adopt an excess profits tax and use any revenue raised to help people make ends meet, following the rise in the Official Cash...

Tax excess profits, don’t leave it to the good will of large corporations

The Green Party is once again calling on the Government to introduce an excess profits tax and use the money to support people, rather than relying...

RBNZ report strengthens case for excess profit tax and more income support

A drop in household income from rising bank interest rates further demonstrates the need for an excess profits tax, the Green Party says.

Story

Birth injuries bill celebrated - next step, full cover

Parents who are injured while giving birth will be better supported by ACC, thanks to months of pressure from the Green Party, parents, community a...

Time to transform care and support for disabled people

Urgent reform is essential to ensure disabled people have equal access to the care and support they need, the Green Party says in response to a new...

Wider scope for birth injuries bill celebrated

Thanks to political pressure from the Green Party and the more than 900 personal stories of birth injury and trauma delivered to Minister Sepuloni,...

Personal stories of birth injuries delivered to ACC Minister

Trigger warning: this mentions traumatic births and birth injuries Each one of the more than 900 personal stories collected by the Green Party and ...

Make a submission in support of comprehensive care for parents

Now's your chance to have our say on the law change that will allow ACC to cover birth injuries. Have your say by midnight on Friday 11 February

Story

Green Party celebrates better support for birth injuries

The Greens are celebrating the first reading last night of new ACC legislation to better support birth injuries after a successful campaign achieve...