On December 1st we celebrated the great news that all default KiwiSaver funds will no longer be invested in fossil fuels!
This change means that the 381,000 New Zealanders enrolled in default funds will be moving away from funds with investments in the fossil fuel industry, and into funds that have cut their ties with companies involved with coal, oil, and gas production. From November 2019 – February 2020, as the government reviewed the default KiwiSaver scheme, 350 Aotearoa mobilised 1,300 New Zealanders to write letters to Hon Grant Robertson & Hon Kris Faafoi calling on the government to put the urgency of the climate crisis at the heart of their decision to change KiwiSaver settings, and ensure that all default funds will need to be fossil fuel free – and we won!
Awarded Winner of the Mindful Money 2021 Award for Best Ethical KiwiSaver Fund, Pathfinder are exemplary leaders in the space of KiwiSaver ethical investing. In their own words; “We seek out companies actively making a positive difference and believe these kinds of companies also make better long-term financial investments. Investing ethically to us means making conscious choices for doing good with the money we manage. We want our investors to both do good and do well.”
This partnership helps to set the standard for other KiwiSaver providers and leads the way in ethical and fossil free investing. In fact, we are so confident in their ethical investments that we have selected Pathfinder as our preferred KiwiSaver provider and 350 Aotearoa staff and board have consciously chosen to transfer our personal KiwiSaver investments to Pathfinder. This was a great choice in ensuring our financial futures thrive whilst also making a simple, easy, individual change to ensure our investments aren’t lining the pockets of the fossil fuel industry. You too can switch to Pathfinder.
Campaigning on KiwiSaver funds and other financial institutions has taught us how important it is to demand from those that take care of our investments to reduce the emissions of our portfolios. Whilst we are building a people-powered movement that strengthens and grows climate action in communities across the motu, we know that collectively many individuals can take powerful action. The UK Make My Money Matter study estimates that investing in a sustainable fund can be 21 times more powerful in reducing emissions than other actions individuals can take.
How does it work for 350 Aotearoa being a Pathfinder Charity Partner? 20% of the management fee KiwiSaver members pay goes to their chosen charity partner. You’re able to make the switch by filling out the Pathfinder form online, selecting 350 Aotearoa as your chosen charity and Pathfinder will handle the rest. This is a great passive way to support 350 Aotearoa financially, which will allow us to continue our awesome campaigns that challenge the cultural acceptance of the fossil fuel industry, as well as ensure your future is invested in the most ethical way possible. To learn more check out their Ethical Investment Policy (link here: https://www.path.co.nz/assets/Uploads/Documents/Pathfinder-Ethical-Policy-2021.pdf?v=2)
It is because of the power of engaged kaitiaki coming together to demand climate action that we are seeing these positive changes that have allowed our savings to be divested from the fossil fuel industry. Kei runga noa atu Aotearoa!
Pathfinder Asset Management Limited is the issuer of the Pathfinder KiwiSaver Plan. A Product Disclosure Statement for the offer is available at www.path.co.nz.