Kiwisaver fund managers: Stop investing our money in weapons
Investigations by Radio New Zealand and the New Zealand Herald showed that Kiwisaver fund managers were investing client savings in companies that make cluster bombs, nuclear weapons and landmines. Now it's come to light that there are still some banks indirectly investing New Zealander's savings in these weapons.
New Zealanders were world leaders in standing up against nuclear weapons in the 80s, landmines in the 90s, and cluster bombs in the 2000s. Now we’ve found that Kiwisaver managers have been funding all three of them, even though they’ve been blacklisted by the New Zealand Superannuation Fund.
If people don’t pick a scheme when they enrol in Kiwisaver, they are automatically allocated to one of nine government approved default providers. Of these, the following were reported as investing in at least one of the blacklisted assets: Westpac, ASB, AMP, Mercer and Fisher Funds. More than 500,000 people are enrolled in default schemes.
We should be able to trust our Kiwisaver fund managers to make responsible and legal choices on our behalf. There is no acceptable justification for investing our savings in cluster bombs, landmines and nuclear weapons.
Amnesty International has worked hard for years to get these weapons banned because of the appalling injuries they cause to women, men and children. As a country, we wouldn't accept having these weapons here. We should have no part of the deep hypocrisy of inflicting the misery they bring on other people around the world.