The Green Party is calling on the National Government to introduce sector-wide deposit insurance following Kiwibank’s withdrawal of its deposit guarantee. Kiwibank announced to its customers yesterday that its deposit guarantee on savers’ money was ending on 28 February 2017. After February, no bank in New Zealand will offer protection of savers’ deposits. “New Zealand is the only country left in the developed world that doesn’t offer savers’ deposit insurance to protect them against possible loss if their bank ever...

The Green Party welcomes the New Zealand Superannuation Fund’s new climate change investment strategy, which highlights how some of the world’s smartest investors are moving out of fossil fuels, even while the National Government continues to back them. The Guardians of New Zealand Superannuation announced a new approach to investing its $31.4 billion of assets — one that will take into account the significant risks and opportunities climate change has for long-term returns. “The Super Fund has accepted the fact...

Reports that Housing New Zealand is about to run out of money, just as it’s supposed to be building new houses to alleviate the housing crisis, is a symptom of National’s economic mismanagement, the Green Party said today. “Bill English has run Housing New Zealand into the ground and now he’s going to have to do an emergency bail-out,” Green Party Co-leader James Shaw said. “Bill English should have used Housing New Zealand to kick-start a Government-building programme back in...

The Green Party is calling on the Government to hold the line in the face of foreign trust lobbying to water down new foreign trust disclosure reforms, the Green Party said today. “Less than a day after the Government was forced to accept most of the Shewan Inquiry recommendations, the foreign trust industry began a concerted campaign to weaken its response,” said Green Party Co-leader James Shaw. Information released to the Green Party under the Official Information Act shows that...

The Havelock North outbreak calls into question the Government’s growth-at-any-cost economic strategy, says Green Party Co-leader James Shaw today, in response to comments today by professors of public health, Alistair Woodward and Simon Hales

The National Government needs to now take responsibility and set some bottom lines around investment in cluster bombs, landmines, and nuclear weapons, the Green Party said today. The Police have today decided not to prosecute fund managers who have made investments in cluster bomb manufacturers, saying such investments do not breach the Cluster Munitions Prohibition Act. The legality of those investments now remains up in the air. “New Zealanders haven’t changed their opinion on the ethics of cluster bombs so...

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,...

Information uncovered by the Green Party showing the Government’s $31 billion ACC Investment Fund has been illegally investing New Zealanders’ money into cluster munitions companies is further evidence of National’s disregard for the laws and ethics of investment. The Green Party asked the ACC Fund in November 2015 whether it had any exposure to illegal investments in cluster munitions companies through pooled or collective investment vehicles. Seventy-six working days later*, the ACC Fund admitted that it had $1.4 million invested...

The Government should follow the actions of Grosevnor and take swift steps to ensure its default KiwiSaver funds meet minimum ethical standards, the Green Party said today. Grosvenor announced yesterday that it was shifting its default KiwiSaver fund into a highly ethical international share index, which screens out companies producing items such as alcohol, tobacco, military weapons, firearms, nuclear power and fossil fuels. The move comes after reports last week showed at least five default KiwiSaver schemes were invested in...

The Government needs to set higher ethical investment standards for its default KiwiSaver providers, the Green Party said today. Radio New Zealand revealed today that a majority of the nine default KiwiSaver funds currently invest in companies involved in the manufacture of cluster bombs, landmines, and nuclear weapons. Only one default KiwiSaver provider, KiwiBank, has said that it excludes these companies from its investments. “Profiting from the production of cluster munitions, landmines, and nuclear weapons is immoral, and most Kiwis...