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

Report shows urgent need to fix wealth inequality

A new report out today provides all evidence the Government needs to start addressing runaway inequality and rebalance Aotearoa to work for everyone.
Read More

Story

It’s important to know your KiwiSaver history, Mr. Luxon

What the Government should now do is reverse the cuts the National Party Government made to KiwiSaver incentives, the Green Party says.
Read More

Story

Bold solutions needed to ease inflation pressures

Action is needed to address the inequality crisis and support New Zealanders on the lowest incomes, the Green Party says.
Read More

Story

Inquiry into COVID-19 economic response necessary

The Green Party is again calling on the Government to review the economic response to COVID-19, as the Reserve Bank of New Zealand puts up the Offi...
Read More

Story

Budget 2022: James Shaw Budget Speech

Mr Speaker, It has taken four-and-a-half years to even start to turn the legacy of inaction and neglect from the last time they were in Government ...
Read More

Story

Rising household costs hurting low-income people

The Green Party says the Government needs to do more for those on the lowest incomes as inflation outpaces wage and benefit increases.
Read More