Taking the carbon out of KiwiSaver
New Zealand punches above its weight and is a global hitter when it comes to clean energy. The S&P Global Clean Energy Index has 11% allocated to New Zealand energy companies – in normal capitalisation-weighted indexes we make up approximately 0.1% of the global market.
Among the top five holdings is Meridian Energy, a company which prides itself on having 100% renewable energy sources. Meridian is one of the largest NZX holdings in our new KiwiSaver scheme, CareSaver, which launched at the start of August. Renewable energy is one of our unique portfolio investment themes, with others including water and data centres with a renewable energy focus.
The CareSaver KiwiSaver Scheme is the first actively managed KiwiSaver fund to assess and report the carbon intensity of our portfolio.
Our ethical KiwiSaver fund examines two dimensions of climate change risk alongside a range of ESG risk factors: carbon intensity of the portfolio through tonnes of carbon emitted for each $1 million of revenue generated, and how well the company is positioned for the transition to a low carbon economy.
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