Green light from Responsible Investment Association

Kiwi Wealth gets green light from Responsible Investment Association Australasia

Kiwi Wealth’s KiwiSaver Scheme investment funds have each been independently certified by Australasia’s leading certifier of responsible investors, the Responsible Investment Association Australasia (RIAA).

RIAA certification has been awarded to all six investment funds in the Kiwi Wealth KiwiSaver Scheme, making it the first default KiwiSaver provider with all funds verified as being invested responsibly.

Joe Bishop, General Manager Customer, Product and Innovation, said RIAA certification provided a simple, independent and trusted way for members of the Kiwi Wealth KiwiSaver Scheme to know their funds were invested responsibly.

“RIAA certification is the gold standard for responsible investment in Australasia. Our own surveys of members of the Kiwi Wealth KiwiSaver Scheme have shown people want a fund that delivers good investment returns and is responsibly invested.

“Almost 90% of our surveyed KiwiSaver members have said independent certification is important in their decision-making. We’re delighted to be the only default KiwiSaver provider that can offer that across all its KiwiSaver funds.

“Being a responsible investor is about putting our clients’ interests first. Our KiwiSaver members can be assured they’re getting strong returns from their KiwiSaver investment, while knowing they’re contributing to a better world and a better New Zealand.”

RIAA is the peak industry body representing responsible and ethical investors across Australia and New Zealand.

Its Responsible Investment Certification Program provides investors with standardised and consistent information allowing them to compare investment options that have been assessed and verified as responsible. It allows investors to access detailed information about how each investment product or financial adviser takes into account Environmental Social and Governance (ESG) and ethical issues in the investment process.

Earlier this year, Kiwi Wealth announced that the Kiwi Wealth KiwiSaver Scheme would invest in an enhanced index fund designed to actively address responsible investment concerns down to the individual security level.

The new fund allows Kiwi Wealth to implement a triple layer responsible investment process across its entire portfolio that incorporates: total ‘zero tolerance’ exclusions of industries and companies that are involved in significantly unethical products like tobacco, whaling and controversial weapons; excluding direct investment in companies in sectors that are more prone to have ESG problems unless they can demonstrate strong corporate processes; and, the ability to exclude any company in any sector that displays poor ESG behaviour.

ENDS

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