Council for Socially Responsible Investment calls for legislative change for Crown Institutions after revelations about investment in cluster bombs

The revelation today by the Green Party that the New Zealand Superannuation Fund is investing in cluster bomb manufacturers and companies that make nuclear weapons will shock most New Zealanders says the Council for Socially Responsible Investment.

Dr Robert Howell, CEO said that using retirement savings to invest in companies making cluster bombs raises the more important issue that the legislative requirements for investment by Crown Institutions (e.g. NZ Superannuation Fund, ACC and Earthquake Commission) need to be reviewed:-

“The Superannuation Fund should not be invested in cluster bombs and nuclear weapons nor should any Crown Institution be investing in weapons manufacturers, companies that abuse human and labour rights or do not protect our environment. The Council for Socially Responsible Investment calls for a comprehensive review of the criteria for all Crown Institutions in conformity with their responsibility to care for the earth and protect basic human rights.”

ENDS

The Council for Socially Responsible Investment was formed in response to a growing demand from ordinary people and investment institutions for help in making ethical investment choices. The Council is a charitable trust which:

• promotes ethical, sustainable investment
• helps people and organisations to develop guidelines, investments and methods for socially responsible investment
• researches, educates, promotes and advocates.

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