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8 August 2024
Reading time: 1 minute
Posted
by
Tom Hartmann
, 0 Comments
More and more Kiwis are insisting that their funds shape the world for the better.
Mindful Money’s latest Voices of Aotearoa report on consumer demand for ethical investment shows New Zealanders are taking a hard look at where their money is invested – and they’re not afraid to make changes.
KiwiSaver funds invest our savings on our behalf into companies around the world. We all have the choice to direct these investments towards companies that align with our values, but here’s the thing: many KiwiSaver and investment fund providers are still putting a significant amount of our money into companies that profit from environmental destruction, human rights abuses, weapons production and more.
It’s not exactly what most of us had in mind when we signed up, right?
In their sixth annual survey of the New Zealand public, Mindful Money and Responsible Investment Association Australasia asked a representative sample of New Zealanders from all walks of life about their investment preferences. The findings are eye-opening:
When it comes to what Kiwis want to avoid, the numbers speak volumes:
We’re not just looking to avoid harm – most of us are also eager to invest our money into companies and industries that make a positive difference:
This desire for positive change spans environmental and social issues, from healthcare to sustainable water management and renewable energy.
Unfortunately, as demand for ethical investments grows, so does the risk of deception. More than half of those surveyed (51%) are concerned about ‘greenwashing’ – where companies or funds make misleading claims about their ethical practices. This lack of trust in ethical claims should be a wake-up call for greater transparency and accountability in the investment world.
In this landscape of ethical complexity, information is crucial:
The message from this report is clear: Kiwis are no longer willing to simply accept assurances from their fund provider that their investments are ethical. People are demanding change, accountability and the power to align their investments with their values.
If this sounds like you, there are some key steps you can take.
Start by considering your core values and ethical priorities when making investment decisions. What do you want your money to support? Which industries or types of businesses would you prefer to avoid investing in?
Make a list of your ethical concerns. Some common areas are environmental impact, human rights violations, weapons production, animal cruelty, fossil fuel companies causing climate change, alcohol production and sales, pornography, gambling and tobacco.
To clarify your thoughts and how you feel about these values, it helps to discuss ethical investing with family or friends.
Remember, the more we engage with our fund providers, the more likely we are to see change.
If your fund provider does not give you assurances that they will make real change to meet your values, you may want to switch to a more ethical fund. Most times it’s free, quick and easy to switch.
Remember, every dollar you invest is a vote for the kind of world you want. As the Voices of Aotearoa report shows, more and more Kiwis are demanding and expecting a better future.
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