The Government has announced that moving forward, KiwiSaver default funds will exclude investments into fossil fuels.
Currently $1.6 billion invested into companies involved with fossil fuels extraction and production.
KiwiSaver members are allocated a default provider if they don’t actively choose a KiwiSaver fund – and nearly 700,000 ( another article said the number was 400,000) people are currently in that situation.
As the world moves towards reducing emissions, excluding investments into fossil fuels will help reduce greenhouse gas emissions and phase out coal and gas.
The recent fires in Australia and record temperatures in the Antarctic at 20.87 degrees Celsius and also on the West Coast of the South Island at 6.5 degrees higher than usual have led to a noticeable shift in public opinion.
More and more people value greener alternatives.
It is great to see the New Zealand Government follow up it’s talk about Climate Change being New Zealand’s next Nuclear Free moment with concrete action to divest from fossil fuels.
For more information on KiwiSaver excluding fossil fuels and ethical investments, head to Mindful Money NZ. Mindful Money are a charity that provide transparency to KiwiSaver investments to ensure that your investments reflect your values. Click here for more: https://mindfulmoney.nz/news/entry/default-kiwisaver/
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