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Responsible KiwiSaver choices welcome

Responsible KiwiSaver choices welcome but more Govt action needed

Green Media Release 2-4-08

The Green Party is welcoming the announcement today by another KiwiSaver provider that they will provide a responsible investment option for New Zealand savers.

But the Greens are calling on the Securities Commission to ensure that all KiwiSaver providers are meeting the new legal requirements to provide statements as to their responsible investment policies, or lack of them, and are calling on the Government to highlight the responsible investment policies on government websites and publications.

"People invest money for the future, but what kind of future that will be depends on how that money is invested. Money invested in companies destroying the environment or mistreating people will mean that our future will be unsustainable and unjust," says Dr. Russel Norman, Green Co-Leader.

"By investing in companies that are making the world more sustainable, people can help make our future more sustainable.

"Thus the Greens welcome the news that another KiwiSaver provider, ASB, is offering a sustainable investment option. The Greens don't endorse any particular KiwiSaver provider but do believe that more competition as to which KiwiSaver provider is the most responsible is a good thing.

"However, it is important that the Securities Commission enforces the new rules that came into effect yesterday requiring KiwiSaver providers to publicise information as to the responsible investment policies, or lack of them. These rules were introduced partly in response to pressure from the Greens.

"And the Government can help by highlighting KiwiSaver providers' responsible investment policies on the government KiwiSaver website and on the government information provided to employees. Currently it is difficult to access the information.

"We need to make it easy for people to access the information on Kiwisaver providers' responsible investment policies so that people can easily choose the kind of investments that would lead to a future they and their children would like to live in."


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