Shocking Kiwisaver revelations display importance of divestment

"The shocking revelations that kiwisaver funds are being invested in oil exploration and weapons manufacturers displays the need for the growing divestment movement," says Oil Free Wellington spokesperson James Barber.

They continue, "support for divestment from unethical businesses such as the weapons industry and the fossil fuels industry is growing. Banks such as BNZ and Westpac need to recognise that investing money in businesses which kill people and threaten the planet is abhorrent."

While Oil Free Wellington is appalled that peoples' kiwisaver funds are being invested in unethical businesses this approach to investment is wrong regardless of where the money comes from.

James continued, "this is what happens when profit is put before people. Businesses such as banks invest in other businesses in pursuit of profit regardless as to the human cost and this behaviour is completely unsurprising."

ENDS

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