Super Fund divestment shifts the ground overnight on carbon risks

The Green Party welcomes today’s announcement that the New Zealand Superannuation Fund has dumped $950 million of high-risk fossil fuel investments, despite a National Government that is still backing oil and coal.

The $35 billion New Zealand Superannuation Fund announced today that it has sold off $950 million of companies with high exposure to carbon emissions and fossil fuel reserves due to the significant long-term risks they present to investors. The selloff includes New Zealand companies Genesis Energy and NZ Oil and Gas.

“This is very big. The New Zealand Superannuation Fund’s divestment from high-risk fossil fuel companies is ground-breaking and brings home the huge economic shifts happening overseas as the world rapidly transitions to a low carbon economy,” said Green Party Co-leader James Shaw.

“We’ve pushed for years for the Super Fund to show strong leadership on climate change and today that move was decisive.

“The Super Fund has divested from fossil fuels in line with best practice overseas, showing real leadership on climate change here at home.

“Nine years of National’s lack of economic and climate leadership has made us forget about the seismic changes happening overseas that we also need to make if we want to stay competitive while lowering our carbon emissions.

“The Super Fund has recognised that investments in fossil fuel companies could soon become ‘stranded’, rapidly losing their value, and our government needs to do the same.

“The larger $41 billion ACC Investment Fund has taken no action on climate change and the material risks it poses to the value of its investments.

“National has opened up half-a-million square kilometres of our oceans for oil and gas prospecting and is actively promoting coal mining in the conservation estate.

“The Green Party in government would lead the shift in our economy to become carbon neutral by 2050, and stop being a champion for the polluting fossil fuel industry,” said Mr Shaw.

Action

Tell us your stories about our special places

Share with us your stories about the places threatened by being fast tracked for mining permits.

Action

RENAME, REWRITE, and REJECT the Regulatory Standards Bill

Submit your suggested changes to the Regulatory Standards Bill! Tell us how you'd change the bill and we could take it to the House!

Action

Anniversary of the Cannabis Legalisation and Control Bill Referendum

If we were to legally regulate cannabis in Aotearoa, what kind of rules would you want to see around access, possession, use, regulations on sale, ...

Action

Save our Polytechs: Campaign Packs

Want to see more supports for our Polytechs? Use these resources to support the campaign!

Action

Save Our Polytechs Petition

Sign our petition today and join us in calling on the Minister for Vocational Education, Hon Penny Simmonds, to Save our Polytechs!

Action

Protect our tamariki - Sign the open letter

Every child in Aotearoa deserves to grow up with safety and stability, wrapped in aroha. Sign our open letter today and help make that a reality!

Action

Stop Growing Homelessness

Sign our petition asking Luxon and Bishop to take action to stop homelessness increasing in Aotearoa.

Action

Local Events

We have activists across Aotearoa / New Zealand who are working hard to build a brighter future for our kids and grandkids. This page lists upcomin...

Latest Climate Change Announcements

Story

Luxon’s Government shreds climate consensus

Late last night, the Government announced some of the most significant sweeping changes in recent memory to destroy climate action.

Govt’s Climate Adaptation plan leaves work to be done

The Government’s National Adaptation Framework, released this morning, has a way to go when it comes to clarity for communities, support, and meani...

Govt’s downgrade of methane target an accounting trick with devastating real-world consequences

Luxon’s Government halving of methane targets under the guise of “no additional warming” is a cheap accounting trick that will cost our country dea...

Govt’s ETS auction fails for the eighth time

Another Emissions Trading Scheme auction has failed, throwing the Government’s failure on climate into stark focus.

Govt pours oil and gas on climate fire as ban repealed

Today, Christopher Luxon’s Government committed to higher power bills and fossil fuel dependence. This Government keeps choosing to undermine our r...

New study shows speed of Antarctic ice melt, Govt fans climate flames

As the Government pulls out of global climate commitments, a significant new report shows that sea ice around Antarctica is melting at unprecedente...

Story

Greens respond to Labour’s CGT announcement

“Labour’s watered down Capital Gains Tax announcement today falls far short of meeting the needs of New Zealanders,” says the Green Party Co-Leader...

OCR cut welcome for some while Govt leaves many behind

Poverty and homelessness continue to grow because of this Government’s decisions, despite the Reserve Bank’s move to lower the Official Cash Rate (...

Greens show Willis’ fiscal straight-jacket is junk, validate case for strong public investment

The Green Party has released its fiscal strategy, demonstrating how we can and must invest in the real-world needs of our country, planet and people.

Rich get much richer, driving inequality and poverty

The 2025 NBR Rich List makes immediately obvious the need for a fair tax system, says the Green Party.

Greens find over half-a-billion dollar hole in Govt Budget

The Green Party has found that the Government has not accounted for its own increased costs as an employer incurred by the KiwiSaver changes rushed...

Greens mark May Day with Green Jobs Guarantee

The Green Party has marked May Day with a pre-budget announcement in Tokoroa, detailing the party’s plan for a Green Jobs Guarantee. READ THE FU...