Following the Greens’ win that ensures government default KiwiSavers divest from the fossil fuel industry, the Green Party have announced a Members Bill to accelerate this critical work across all public fund managers.
The bill, announced today, would direct all public fund managers to divest from companies directly involved in the mining and production of fossil fuels, including:
- The Accident Compensation Corporation (ACC)
- The Lotteries Commission
- The Government Superannuation Fund Authority
- The New Zealand Superannuation Fund and Guardians of New Zealand Superannuation
- The Public Trust
- The Venture Capital Fund
“Ten years from now, New Zealanders will look back at the climate action their politicians took today. The Greens know we have a responsibility to that future, to do everything we can to ensure its flourishing.” Green Party MP and sponsor of the bill Chlöe Swarbrick said today.
“Despite knowing about the climate crisis for decades, Governments have continued to invest public funds in polluting fossil fuels.
“New Zealanders want to know that the Government is taking action to prevent a climate crisis. But despite strong evidence that we cannot afford to keep burning coal, oil and gas, billions of dollars in public money is still being invested in fossil fuel industries.
“The Green Party in government has achieved default KiwiSavers divestment from fossil fuels, but we know we need to go further and faster to truly address the climate change challenge.
“That’s why today we are announcing legislation that will see all public funds divested from fossil fuel industries. Leadership starts at the top, and if our government cannot begin to move away from these industries, how can we expect the rest of New Zealand to?
“We call on the government to adopt this bill, and will continue to work across the Parliament to achieve tangible climate action.”