While most New Zealanders expect their KiwiSaver funds are being invested responsibly, a huge number of KiwiSaver members are unknowingly putting their hard-earned savings towards the biggest polluters in the world. Our KiwiSaver funds are currently acting, rather inconspicuously, as a direct link between us and those most responsible for climate change, the fossil fuel industry.
Before the end of the year, the Minister for Commerce, Hon. Kris Faafoi and Minister for Finance, Hon Grant Robertson will make a decision on how our KiwiSaver funds are invested. We’re calling on the Ministers to implement mandatory responsible investment, with a category exclusion of the fossil fuel industry, for all default KiwiSaver funds. That means anyone who doesn’t choose their own KiwiSaver fund will not be inadvertently fueling the climate crisis with their hard-earned savings.
This decision only comes around every 7 years, so it’s crucial the Government delivers a forward-thinking investment plan, consistent with intergovernmental climate agreements, scientific consensus, and rapidly shifting political and economic landscapes.