Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


ACC booze investments 'unethical'

ACC booze investments 'unethical'

ACC investments in big brewing companies DB Breweries and Lion Nathan contravene ACC's stated mission to reduce injuries, Green MP Sue Bradford revealed in Parliament today.

"By making large investments in the brewing industry, ACC is blatantly contradicting one of its core purposes - to reduce accidents and injuries," Ms Bradford said.

"This is especially the case given the large number of motor vehicle crashes and other accidents that happen when people are under the influence of alcohol.

"As far as I am aware, ACC has an equity investment of about $24 million in Lion Nathan [refer ACC's 2002 Annual Report], and owns about 8.4 per cent of DB Breweries shares [refer NBR article, 15-11-2002]," Ms Bradford said.

"These investments go against the Accident Compensation Corporation's stated pledge to prevent injury.

"It is also interesting that the Injury Prevention, Rehabilitation and Compensation Act 2001, section 272 (2) (i), requires ACC's investment statement to include 'a statement relating to ethical investment for avoiding prejudice to New Zealand's reputation as a responsible member of the world community'," Ms Bradford said.

The brewery investments support the sale of alcohol, which is well-known to contribute to injuries, accidents and - in its most extreme forms - addiction and social misery. Ms Bradford said the investments were a patent anomaly given the Government's move last week to hike the tax on low-alcohol liquor; to reduce the health effects and societal impacts of excessive drinking by young people.

"I am calling on ACC Minister Ruth Dyson and the Government to immediately end these unethical and contradictory investments."

Ms Bradford said she was also concerned about ACC's investments in mining and pesticide companies, as these activities contributed to significant public health problems.

ACC's 2002 Annual Report shows equity investments as at 28 June 2002 with a market value of $13.5 million in mining company BHP Billiton, and $9.8 million in pesticide and herbicide manufacturer Nufarm.

Ms Bradford today asked Question No. 3 on the issue in the House.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news