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

 


Govt Found Investing Illegally In Cluster Bombs

7 December 2012

Govt Found Investing Illegally In Cluster Bombs

The Green Party has discovered the Government continues to invest in cluster bomb manufacturers despite making a specific commitment not to.

Answers to Parliamentary written questions lodged by the Green Party show that the Government’s National Provident Fund and Government Superannuation Fund invest, through trusts and investment vehicles, $2.2 million in three companies that are involved in the production of cluster bombs, despite section 10 of the Cluster Munitions Prohibition Act 2009 which specifically prohibits it. The companies involved are: Lockheed Martin, Raytheon, and L-3 Communications.

“New Zealanders will be horrified to know their Government is profiting from the production of cluster munitions – bombs that kill so indiscriminately, 98 percent of all reported casualties from them are civilians,” said Green Party Co-leader Dr Russel Norman.

“When we adopted the Cluster Munitions Convention in 2008, we made a commitment to ‘never under any circumstances assist or encourage’ the cluster munitions industry.

“The National Government has been complacent in managing our humanitarian responsibilities to the wider world; profiting from cluster bombs is simply immoral and must end.

“An opinion sought from the Auditor General maintains that investment in cluster bomb manufacturers is clearly illegal.

“Bill English must direct the National Provident Fund and Government Superannuation Fund to divest from investment vehicles that hold companies involved in the manufacture of cluster bombs and ensure they improve their screening systems so this doesn’t happen again.”

The Parliamentary questions also revealed the two government-run funds had investments in trusts and investment vehicles that include tobacco companies and companies involved in the production of nuclear weapons.

“The New Zealand Superannuation Fund has divested from companies that manufacture cluster munitions, nuclear weapons, or tobacco products,” said Dr Norman.

“Divestment was initiated to avoid damaging our reputation as a responsible member of the world community.

“We’d like to see the National Provident Fund and Government Superannuation Fund divest from investment vehicles that hold tobacco and nuclear weapons manufacturers as well – following the lead of the New Zealand Superannuation Fund.

“It's not in our interests (or our children's) to profit from the proliferation of nuclear weapons, cluster munitions, or the expansion of the tobacco industry,” said Dr Norman.

Parliamentary questions, supporting information, and Auditor General opinion:
http://www.greens.org.nz/sites/default/files/green_party_parliamentary_questions_on_ethical_investment.pdf


ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Bill English, Abroad

Looks like you need to get the blurb yourself. Probably best to do that irrespective, actually.If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common.

Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues. Neither have yet been given a mandate to govern by the electorate although – in both countries – the Labour opposition is in less than robust shape. More>>

 

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news