NZ Super Fund exists to give Kiwis the opportunity to invest in our future. They set the benchmark for ethical investment in Aotearoa.Yet they still invest in fossil fuels.
In light of the recent public outrage around unethical investments, they have indicated that they will be deciding on whether or not to divest from fossil fuels in the next few months. This is our chance to help the industry get it right.
By contributing to climate change, the fossil fuel industry is on track to making the future unliveable. Fossil fuels are like cluster bombs for the climate: it is completely unethical to profit from destroying the world - and they'll keep doing it unless we stop them.
If the NZ Super Fund is committed to acting on climate change, they should not be investing in fossil fuels.
Vanguard, the international investment giant that provides the fund options for many KiwiSaver funds, will follow the NZ Super Fund's ethical guidelines for its new ethical fund for New Zealand. We want to make sure that these guidelines are robust and effective. In order for Vanguard to divest from fossil fuels, NZ Super Fund must divest first.
In November the NZ Super Fund is hosting the International Forum of Sovereign Wealth Funds, and the focus of the conference is climate change.This is an opportunity for us to drastically shape the investment space in New Zealand, and change the behaviour of a major international player. Let's make sure that the NZ Super Fund puts our money where it's mouth is and divests from fossil fuels!