Greens would dump BNZ KiwiSaver if it won’t invest responsibly

The Green Party in Government would dump BNZ as a default KiwiSaver provider if it continues to invest in cluster bomb makers, the Green Party said today.

BNZ is the last of nine default KiwiSaver providers selected by the Government to move to divest and screen for companies manufacturing cluster bombs, landmines, and nuclear weapons. KiwiBank, Mercer, and ASB are still reviewing their responsible investment policies.

“It’s unacceptable to invest in companies that manufacture cluster bombs, landmines, or nuclear weapons, so the Government must ensure that all default KiwiSaver funds abide by high standards for responsible investment, including stragglers like BNZ,” Green Party finance spokesperson Julie Anne Genter said.

“Default KiwiSaver funds are chosen by the Government. They all need to abide by a set of ethical bottom lines consistent with our values and our law.

“It’s not okay for KiwiSaver providers like BNZ to invest in companies that produce illegal weapons that cause immense harm to innocent people.

“It’s not okay to make money from weapons that end up blowing kids' legs off.

“New Zealanders care strongly about how their funds are invested. BNZ, KiwiBank, Mercer, and ASB should too.

“KiwiSaver providers like Grosvenor have set a very high bar for responsible investment for their default KiwiSaver fund, showing that fund managers can move very quickly to screen out unethical investments,” said Ms Genter.

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...
Read More

Story

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 ...
Read More

Story

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...
Read More

Story

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...
Read More

Story

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...
Read More

Story

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.
Read More