As the largest publicly owned investor in New Zealand, the ACC board should divest from fossil fuels, demonstrating our leadership role on climate change, Green Party MP Chlöe Swarbrick said today.
“As the largest publicly owned investor, ACC have accepted they have huge influence in the market, including a billion dollars invested in fossil fuels.
“New Zealanders would be shocked to learn that a publicly owned investor is banking on the climate crisis.
“It’s entirely within the ACC Board’s mandate to decide to end such investment on ethical grounds, as they did with tobacco in 2006.
“If not, the Government should end this investment in fossil fuels through a direction under the Crown Entities Act.
“The Green Party is focused on ensuring New Zealand retains its leadership role in driving and inspiring action to reduce emissions and protect our climate for future generations.
“We’ve seen a groundswell of public support, and with our Zero Carbon Act passing unanimously, ending what is effectively state-sponsored investments in fossil fuels should be a next step in this work.”
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