Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Mindful Money Launching New Ethical Investment Platform

There is a revolution taking place in financial investment. Investors are seeking to limit the harm from their investments and increase the social and environmental benefits. This is no longer a niche strategy – it has become good investment practice for investors, ranging from the world’s largest investment managers through to growing numbers of individual investors.

Barry Coates, Mindful Money’s founder and CEO explained:

Our surveys show that investors want to invest ethically, so they can feel good about their investments. Investing ethically (or responsibly) can be one of the most powerful actions that people can take for sustainability. And research shows that investing ethically provides good financial returns, at least as high on average as conventional investing.

Feel good, do good, earn good returns. It’s no wonder that Kiwis are waking up to ethical investment.”

Mindful Money is at the forefront of this movement in New Zealand. In only one year of operation, this small charity has made a massive impact. Now Mindful Money is gearing up for the future.

Mindful Money brings radical transparency to investing

On Wednesday this week, Mindful Money, a charity promoting ethical investing, will launch analysis of all 390 New Zealand managed investment funds onto its new website.

This extends the analysis of 281 KiwiSaver funds that Mindful Money launched a year ago to now cover all KiwiSaver and retail managed funds.

For the first time, New Zealand investors have the opportunity to see what companies their managed funds invest in. This is information that all investors should be able to access. Mindful Money makes it quick and easy.

Barry Coates commented: “Mindful Money is unique. There is no other source for this information in New Zealand. From our understanding, this level of transparency does not exist in any country. Mindful Money makes it available to all members of the public for free. This is radical transparency in action.”

Investment funds are still invested in companies they would like to avoid

Annual surveys undertaken jointly by Mindful Money and the Responsible Investment Association of Australasia show that most New Zealanders would like to avoid investing in sectors and companies such as fossil fuels, weapons, products tested on animals and human rights abuses. Mindful Money tracks investments in ten sectors/companies of concern. Only a few ‘Mindful Funds’ exclude most of these companies or show that they engage with companies to improve their practices.

Mindful Money’s analysis shows that around $2.3 billion of managed funds is invested in the ten sectors. This amounts to 4.76% of total managed funds of around $50 billion. A report on the analysis, together with an updated analysis of KiwiSaver portfolio holdings, will be launched on Wednesday this week.

Barry Coates observed:

The typical reaction we hear from people who use the Mindful Money website is shock. They do not realise their funds are invested in companies that are so inconsistent with their values. Mindful Money’s fund finder helps them find investment options that meet their criteria.

Mindful Money conference: Investing for a sustainable recovery

Mindful Money will hold a conference at KPMG on Wednesday evening. Jane Wrightson, Retirement Commissioner will open up the conference, talking about public outreach during the current Money Week. A panel on engaging the public about ethical investing will follow, including leaders of managed funds that are launching onto Mindful Money’s website: David Beattie, Booster; Hugh Stevens, Smartshares; Sarah Whitelock, Mercer; and Brian Henry, Amanah.

The conference will conclude with a panel discussing investment action on climate change, with leaders from other managed funds on the Mindful Money website: Rebekah Swan, AMP Capital; Sam Stubbs, Simplicity; and John Berry, Pathfinder.

Mindful Money Crowdfunding campaign

As a small and new charity, Mindful Money is raising $30,000 of public funding to get the message out to the wider public.

Barry Coates explained:

We want to reach across New Zealand society, young and old, those saving dollars or millions, and those from all walks of life. Our surveys show that the main thing that counts is whether people care about issues like climate change, a good environment and fairness. That describes most of New Zealand.”

We aim to build a movement of Kiwis who shift their money to companies that do good. That will channel more funding into renewable energy, clean water, affordable housing and companies with high ethical standards. Companies that pollute and abuse human rights will be starved of funds and face pressure from investors to clean up their act. This is the pathway to transform the investment sector and mainstream sustainable finance.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: