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

 


Green Bill Will Help Clean Up Super Fund Investments

8 November 2012

Green Bill Will Help Clean Up Super Fund Investments

The Green Party is urging all other parties to support changes to the responsible investment criteria used by the New Zealand Superannuation Fund following their Climate Change (NZ Superannuation Fund) Bill being drawn from the members’ ballot today.

The Bill requires the New Zealand Superannuation Fund to consider climate change and the broader environmental impact of the companies in which they invest.

“The super fund is about long-term economic thinking. My bill will ensure environmental considerations are an integral part of that thinking,” said Green Party Co-leader Dr Russel Norman.

“The New Zealand Superannuation Fund recently divested from some companies due to environmental and human rights considerations, so it can be done.

“This is a smart way to run our superannuation fund. Investing in companies that are working to mitigate climate change means our money will be invested today in the new clean economy of tomorrow.”

Dr Norman also pointed out it is possible for the super fund to be both responsible and profitable.

“The world’s largest sovereign wealth fund, the Norwegian Pension fund, has world-leading responsible investment criteria overseen by an ethics council,” said Dr Norman.

“Their criteria prohibits investment in companies that cause severe environmental degradation.

“My bill will align our fund’s responsible investment decision making processes with global best practice. It is a clear change to the Act that will have positive consequences for the environment.”

A copy of the bill can be found here: http://www.greens.org.nz/sites/default/files/climatechangenewzealandsuperannuationfundamendment1.pdf

Note: The Climate Change (NZ Superannuation Fund) Bill was in the ballot under the name of Green MP Eugenie Sage, but has been transferred to Green Party Co-leader Dr Russel Norman who has led the party’s work on the superannuation funds ethical investment issues.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Anzac Day:


Reshuffle: PM Announces Changes To Ministerial Portfolios

Prime Minister Bill English today announced the appointment of Gerry Brownlee as Minister of Foreign Affairs, Nathan Guy as Minister of Civil Defence, Nikki Kaye as Minister of Education and Mark Mitchell as Minister of Defence.

The changes follow the resignations from Cabinet of Hekia Parata and Murray McCully.

In other changes Simon Bridges has been appointed Leader of the House and Nicky Wagner has been made Minister supporting Greater Christchurch Regeneration. More>>

 

Q+A Transcript: CTU Call For 'National Standards' On Wages

‘If you look at countries who do better than us, who pay wages better, who have more competitive industries, more successful economies, they have systems where there are national standards.’ More>>

ALSO:

Health Workers Respond: People's Mental Health Report Released

The People's Mental Health Review reinforces a recent YesWeCare.nz survey of 6,000 health workers, which found nine in 10 believe they don't have the staff or resources to deliver the care Kiwis need when they need it. More>>

ALSO:

More Mental Health:

Energy: Greens Launch Plan For Cheaper And Cleaner Electricity

$112 million for winter warm-up payments to help low-income households cover their power bills • setting a goal for 100 percent renewable electricity by 2030 (in average hydrological conditions) • an investigation into the electricity wholesale market. More>>

ALSO:

Gordon Campbell: On The Aged-Care Settlement

Until yesterday, a National government has always been the sworn enemy of women seeking justice in the workplace, in the face of gender-based pay discrimination. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news