Insights
A new tool to help spot KiwiSaver funds walking the walk, not just talking the talk!
Keep an eye out for these badges when considering where to invest.
Mindful Money, the NZ charity devoted to making money a force for good, launched research-based badges designed to provide certainty that funds are doing what they say they’re doing.
Barry Coates, Founder and CEO of Mindful Money explains:
“Most people want to find a fund that aligns with their values, but it has been hard for them to know who to trust. Mindful Money is bringing full transparency through badges that ensure investment providers are living up to their claims.”
Through their monitoring, Mindful Money have observed that greenwashing is rampant within the finance industry. Kiwi’s are hungry for their money to be invested in a way that aligns with their values, in fact 76% want their money to be invested ethically. But because there are no industry standards around ethical investing, consumers are at risk from empty or questionable promises.
In repsonse to the public wanting values-based investing, most funds now claim to be responsible, but billions of dollars are still invested in companies that the public wants to avoid. Mindful Money’s new badges will help the public understand the reality of where their money is really invested, focusing on key issues of public concern: Fossil Fuels, Animal Cruelty, and Weapons.
Why focus on Fossil Fuels?
Three quarters of Kiwis want to exclude fossil fuels from their investments, but KiwiSaver and retail investment funds still have $2.8 billion invested in companies that provide oil, gas, and coal.
"350 Aotearoa welcomes Mindful Money's new Fossil Fuel badge for KiwiSaver providers to make it easier for engaged citizens to decide that their money shall no longer prop the industry most responsible for climate collapse."
- Alva Feldmeier, Executive Director of 350 Aotearoa
(350 Aotearoa are a member of our charity family).
Why focus on Animal Cruelty?
85% of Kiwis think it’s important to not invest in cosmetic companies that test their products on animals. Yet a huge $3.4 billion dollars is invested in companies that test their products on animals for non-pharmaceutical use.
“Animal testing for cosmetic purposes inflicts unnecessary harm and death to 500,000 animals annually worldwide. NZAVS is thrilled that Mindful Money’s Animal Cruelty Free badge provides certainty for New Zealanders that their money is not supporting this practice.”
- Tara Jackson Executive Director for NZAVS
(Tara Jackson is a proud Pathfinder KiwiSaver member and NZAVS are a member of our charity family).
Why focus on Weapons?
Eight in ten Kiwis think it’s important not to invest in weapons manufacturing. However, investments in weapons by New Zealand funds totals $391 million, including $15 million in companies that produce nuclear weapons.
“The proliferation of nuclear weapons and other armaments undermines peace, security and human rights. New Zealanders’ funds should not be used for weapons production. These badges will show Kiwis that they have a choice to go weapons free.”
- Alyn Ware, Peace Educator and Nuclear Disarmament Expert.
Who can wear these badges?
In order to be eligible for these badges the fund providers need a policy stating that they won’t invest in the issue of concern. As well as Mindful Money have checked their investments (as at September 2021) to confirm that the fund provider holds no companies of concern. Mindful Money applies a threshold of materiality measured to one-hundredth of one percent of the fund portfolio.
Animal Cruelty Free:
Pathfinder Conservative Fund
Pathfinder Balanced Fund
Pathfinder Growth Fund
Fossil Fuels Free:
AMP Capital Ethical Leaders Global Shares Fund
AMP Capital Ethical Leaders NZ Shares Fund
Devon Sustainability Fund
Harbour Sustainable NZ Shares Fund
Lighthouse Global Equity Fund
Pathfinder Balanced Fund
Pathfinder Conservative Fund
Pathfinder Growth Fund
TahitoTe Tai O Rehua Fund
Weapons Free:
AMP Capital Ethical Leaders Balanced Fund
AMP Capital Ethical Leaders Conservative Fund
AMP Capital Ethical Leaders Global Shares Fund
AMP Capital Ethical Leaders Growth Fund
Devon Sustainability Fund
InvestNow AMP Capital Ethical Leaders Balanced Fund
Lighthouse Global Equity Fund
Pathfinder Balanced Fund
Pathfinder Conservative Fund
Pathfinder Growth Fund
TahitoTe Tai O Rehua Fund
Keep an eye out for these badges when considering where to invest.
Visit Mindful Money for more information.
With over 10 years of marketing experience in a variety of industries (such as publishing, creative arts and technology), Lily brings an outsider's eye to the financial industries. Overseeing PR, advertising, communications and brand, Lily is passionate about helping Kiwis harness the power of ethical investing to grow wealth and well-being.
