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.”