Green Party welcomes KiwiSaver fossil fuel and illegal weapons exclusion

The Green Party is welcoming the changes to KiwiSaver implemented today by the Government that require default providers to exclude investments in fossil fuel production and illegal weapons.

“New Zealanders can now be sure their savings are being put to good use and helping to create a better future for the climate and their children,” says Green Party MP Chlöe Swarbrick.

“The Green Party negotiated for KiwiSaver funds to be fossil free in the last term, showing how important it is to have the Greens in Government.  

“It’s also positive to see default providers must exclude investments in illegal weapons. That said, we can move away from all unethical investments that are contributing to war industries, illegal or not.

“For us to create the clean, green and safer communities New Zealanders want, we need to go further and faster. We need other large funds that are to follow KiwiSaver providers and end investment in the climate crisis.

“World-leading legislation currently before Parliament that requires financial institutions to report their climate-related risks is an important step towards exposing those unethical investments and giving people the power to choose not to invest in fossil fuels.

“I have a Member’s Bill in the ballot to end investment of all public funds in the mining and production of fossil fuels, and we will continue to work across the Parliament to achieve tangible climate action. Our future isn’t in betting on climate collapse.”

ENDS

Latest Finance Announcements

Story

Green Party supports Budget 2021 which will help those in poverty

The Green Party supports the 2021 Budget which increases income support for New Zealanders living in poverty, and we’ll continue to push for a long...
Read More

Story

Greens welcome protections for Kiwis’ savings

The Green Party is welcoming the Government’s announcement that bank deposits up to $100,000 will be protected under new rules.
Read More

Story

Housing plan a start, but much more needed to meet the scale of the crisis

The Government’s housing announcement is a very small start but it doesn’t go far enough to genuinely meet the scale of the crisis.
Read More

Story

Greens announce 4 point plan to stop runaway housing crisis

The Green Party is calling for bold, transformational measures to stop the accelerating housing crisis that is locking New Zealanders out of a stab...
Read More

Story

Tax data exposes gross inequity between the wealthiest and poorest New Zealanders

Government data today shows that the wealthiest New Zealanders aren’t paying their fair share of tax, whilst everyone else chips in, Green Party sp...
Read More

Story

Economic windfall should be funnelled straight back into communities: Green Party

Following an economic forecast that shows Aotearoa strongly rebounding from COVID-19, and Crown accounts looking much healthier than expected, the ...
Read More