Greenwashing is rampant within the finance industry76% of New Zealanders want their money to be invested ethicallyMindful Money is launching credible badges to provide certainty that funds are doing what they say they are doing
Ethical investment is on the rise in New Zealand. Most funds claim to be responsible, but billions of dollars are still
invested in companies that the public wants to avoid. Mindful Money is launching a new tool that helps the public
understand the reality of where their money is invested, focusing on key issues of public concern - Fossil Fuels, Animal
Cruelty, and Weapons.
Barry Coates from 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. Concerns over greenwashing have been further highlighted by the large number of
funds that were invested in Russia at the time of their invasion of Ukraine. Now Mindful Money is introducing badges
that will give confidence to investors that claims reflect the reality of fund investments.
Mindful Money is bringing full transparency through badges that ensure investment providers are living up to their
claims. There are strict criteria for eligibility to use the badges, assessed against the investment portfolios of
KiwiSaver or Investment funds.”
“Now the public can find out who is putting their money where their mouth is.”
74% of New Zealanders want to exclude fossil fuels from their investments, but New Zealand investors provide $2.8
billion in investment to companies that provide oil, gas, and coal in KiwiSaver and retail investment funds.
"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.
85% of Kiwis think it’s important not to 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.
81% of 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.
Barry Coates concluded: “The full listing of companies in every KiwiSaver and retail investment fund is available on
Mindful Money’s website. This is a free service. Every investor should know what companies they are investing in through
their KiwiSaver or investment fund.”
“Mindful Money is bringing radical transparency to investment, enabling the public to align their investments with their
values. We are a charity helping Kiwis to invest their money in line with their values. The Mindful Money website is
quick and easy for anyone to use. www.mindfulmoney.nz”
The funds committed to the badges are:
Weapons Free:AMP Capital Ethical Leaders Balanced FundAMP Capital Ethical Leaders Conservative FundAMP Capital Ethical Leaders Global Shares FundAMP Capital Ethical Leaders Growth FundDevon Sustainability FundInvestNow AMP Capital Ethical Leaders Balanced FundLighthouse Global Equity FundPathfinder Balanced FundPathfinder Conservative FundPathfinder Growth FundTahito Te Tai o Rehua Fund
Fossil Fuels Free:AMP Capital Ethical Leaders Global Shares FundAMP Capital Ethical Leaders NZ Shares FundDevon Sustainability FundHarbour Sustainable NZ Shares FundLighthouse Global Equity FundPathfinder Balanced FundPathfinder Conservative FundPathfinder Growth FundTahito Te Tai o Rehua Fund
Animal Cruelty Free:Pathfinder Conservative FundPathfinder Balanced FundPathfinder Growth Fund
Notes:
Mindful Money badges are based on evidence rather than unsubstantiated claims. Mindful Money uses six monthly
disclosures of direct investments by fund providers and then undertakes extensive research on the funds that are held
within all KiwiSaver and investment funds. This provides a comprehensive ‘look-through’ list of companies in portfolios,
with a focus on the key issues that New Zealanders want to avoid, as shown in annual surveys of the New Zealand public.
The criteria for badges are as follows:Fund providers have a policy not to invest in the issue of concernFund providers hold no investments, as at September 2021, in companies that meet Mindful Money’s thresholds of
materiality for these categories, measured to one-hundredth of one percent of their portfolio
Mindful Money has licensed the badges for public use. Fund providers wishing to use the badges in their promotions pay a
small fee. A full list of the funds that meet the criteria for the badges is included on Mindful Money’s website.
Total funds invested in each of the three categories from March 2021 data, covered by badges are as follows:
Animal Testing:Managed Funds: $1,155mKiwiSaver: $2,426m
Fossil Fuels:Managed Funds: $1,182mKiwiSaver: $1,192m
Weapons:Managed Funds: $186mKiwiSaver $189m
The total investment in KiwiSaver funds was $92.4 billion and in retail investment funds was $66.8 billion.