Tertiary Union Encourages Ethical Investment

Association of Staff in Tertiary Education
ASTE Te Hau Takitini o Aotearoa

10 October 2006

Tertiary Union Encourages Ethical Investment

ASTE Te Hau Takitini o Aotearoa resolved at its Annual Conference last week to investigate opportunities for the development of an ethically responsible equity fund to allow New Zealand people to invest their savings in ethical companies and activities.

“There are over 330,000 union members in New Zealand and a great many, including a high proportion of our own members have money invested in superannuation schemes or other funds. Unfortunately many of these fund managers invest in shares and bonds that relate to companies involved in dubious employment practice and even child and prison labour. Some support anti-union and non-democratic regimes,” Lloyd Woods, National President of ASTE said today.

The resolution charged the union to investigate the existence of suitable current investment opportunities, but failing that to investigate the possibilities of creating a cross union fund open to any investor.

ENDS

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