I don’t know about you, but I want my Kiwisaver to make as much money as possible and I don’t really care about ethics in investing:
Minister of Finance Grant Robertson has written to chairs of the Super Fund and ACC, asking them to adopt ethical investment policies to help “lift New Zealand’s reputational standing”.
He made the comments in letters addressed to the chairpersons of ACC, the Super Fund, the National Provident Fund and the Government’s superannuation fund – known as the Crown Financial Institutions (CFIs).
These entities all invest public money – NZ Superfund’s balance sheet is almost $55 billion; ACC’s is closer to $44b.
In the December 22 letters, Robertson said it was the Government’s expectation that these funds continue to focus on the “appropriate balance of risks and returns”, when it comes to its investment.
But he also made very clear the Government’s expectations around climate change.
“Ultimately, my expectation is that Government funds are leaders in New Zealand’s achievement of our shared target of being carbon-zero by 2050.
“I expect CFIs to disclose climate-related financial risks and opportunities in… your annual reports.“
This was something that Climate Change Minister James Shaw last week announced would now be a requirement.
Robertson never explicitly told the chairs where they should be investing – as that would be a breach of the rules – but his “expectation” was clear.
NZ Herald
You know what, screw your “expectations”. Whose ethics are they using to judge so-called “ethical” investments anyway?
Grant Robertson’s ethics are not mine.
I wish there was a fund that overtly courted people like me instead of green-washing themselves or eschewing the important vices like booze, tobacco, drugs, mining, oil and guns.
Give me a fund that invests in all of those things, and refuses to invest in stupid fad things like green projects.
The only ethics I want, is maximising profits.
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