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

No surprise in National’s latest attempt to slash public services

National’s ‘alternative budget’ that includes huge cuts to the government’s operating allowance would risk gutting critical public services, and pu...
Read More

Policy

Economic Policy

A Green economy is about better quality of life for people and the planet. Economic success is intertwined with environmental and human wellbeing. ...
See More

Policy

Trade and Foreign Investment Policy

We support fair trade that’s good for economic prosperity, people, and the planet. Trade agreements must respect democracy and state sovereignty T...
See More

Story

Green Budget win backs public sector leadership on climate change

The Greens in Government have today won a significant investment to help move the public sector estate onto clean, renewable energy, Green Party Co...
Read More

Story

Budget 2019 Speech - James Shaw

E te Māngai o te Whare, tēnā koe. Ki a koutou ōku hoa Pāremata, huri noa i te Whare, ngā mihi o te tau hou ki a koutou katoa. 1.         The Wellbe...
Read More

Story

Green Party welcomes first Wellbeing Budget

“The Green Party is proud to welcome New Zealand’s first Wellbeing Budget to deliver change for New Zealanders,” Green Party Co-leader James Shaw s...
Read More