1 September 2016

Greens would dump BNZ KiwiSaver if it won’t invest responsibly

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, so the Government must ensure that all default KiwiSaver funds abide by high standards for responsible investment, including stragglers like BNZ,” Green Party finance spokesperson Julie Anne Genter said.

“Default KiwiSaver funds are chosen by the Government. They all need to abide by a set of ethical bottom lines consistent with our values and our law.

“It’s not okay for KiwiSaver providers like BNZ to invest in companies that produce illegal weapons that cause immense harm to innocent people.

“It’s not okay to make money from weapons that end up blowing kids' legs off.

“New Zealanders care strongly about how their funds are invested. BNZ, KiwiBank, Mercer, and ASB should too.

“KiwiSaver providers like Grosvenor have set a very high bar for responsible investment for their default KiwiSaver fund, showing that fund managers can move very quickly to screen out unethical investments,” said Ms Genter.

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