Unite Union executive calls for NZ Super Fund to divest from fossil fuels.
28 Oct 2016
Unite Union’s elected worker’s executive recently passed a motion demanding that the NZ Super Fund withdraw all
investments (divests) from the coal, oil and gas projects that are driving climate change. Unite joins climate action
group 350 Aotearoa, several NGOs, faith groups and other unions in making this call. [1]
The NZ Super Fund has since responded, failing to commit to divesting from fossil fuels, instead announcing that [it]
will simply talk to fossil fuel companies about the issue, as if that is going to make any difference.
Last year, over a hundred unite union delegates voted to adopt a climate justice policy that affirmed our union’s
support for calls to leave the world’s remaining fossil fuel resources untouched. [3] That call has been soberly
validated in a recent study by Oil Change International that recommended that no new infrastructure should be developed
if we are to have any chance of avoiding catastrophic climate change.
“By signing on to this open letter Unite Union is recognising low paid workers in precarious work are the most
vulnerable and least responsible for causing climate change. Low income earners and people who are economically
vulnerable are the least resilient to economic, energy and weather-related shocks that are coming down the line.”, said
Gary Cranston, Unite Union’s climate justice spokesperson.
“We understand that this burden will fall first and foremost on vulnerable people and we don’t want our money used to
create an insecure future for us. That is the opposite of what our our Super Fund is meant for.”, said Mr Cranston.
“Ninety per cent of staff at the New Zealand are on six-figure pay-packets and while they may not be worried about the
impacts of climate change as a consequence, we certainly are.”, said Paseka Afaese, who works at a McDonald’s restaurant
in West Auckland. Ms Afaese’s family are familiar with environmental disaster after their home town of Lalomauga in
Samoa was levelled by a tsunami in 2009. [2]
“While their wealth will insulate them from climate impacts, people on low wages who are reliant on future income
security from their Super Fund won’t have that protection.”, said Mr Cranston.
“Donating our retirement savings to companies that are destroying our future has got to stop. In fact, if we are to
secure a safe and healthy future for our communities and whanau we must reverse this trend. That money could be invested
in projects that support a Just (fair) Transition: A fair pathway to protect the climate, and our future’s.”, said Gary
Cranston.
Unite union calls on the NZ Super Fund to genuinely divest from fossil fuels, by;
1. Making no new investments in coal, oil and gas projects
2. Committing to withdraw all current investments in fossil fuel extraction and production companies within the next
three years
References:
[1] Organisations Challenge NZ – Open Letter : October 25, 2016
[2] Staff land six-figure salaries and big bonuses : NZ Herald Mar 17, 2013
[3] Unite union supports climate justice.
ends