KiwiSaver investments in harmful stocks plummet

This included some of the largest KiwiSaver providers resulting in the biggest fall in harmful investment since Mindful Money started tracking ethical investment trends five years ago.

In the six month period to September 2023, there was a 72% reduction in investment in tobacco companies, 35% reduction in weapons, 29% reduction in gambling, 25% reduction in companies that test products on animals or cause animal suffering, 24% reduction in alcohol, 16% reduction in pornography/adult entertainment and a 7% reduction in environmental damage.

Mindful Money CEO Barry Coates says until now, most of the shift towards ethical investment has come from the smaller and medium-sized funds including Pathfinder, Medical Assurance Society (MAS), Simplicity and Always Ethical.

“However, over the past six months we have seen significant reductions in harmful investment by many of the largest KiwiSaver funds.”