The Accident Compensation Corporation just released its new Direct Investment Exclusion List which proves that they continue to neglect its responsibility as one of the largest public funds in Aotearoa to divest from fossil fuels.
Climate justice organisation 350 Aotearoa is pleased to see that the Accident Compensation Corporation (ACC) joined forces with other public funds to sign the Paris Aligned Asset Owner Commitment. A first priority must be to divest ACC's $210 million invested in coal, oil, and gas companies.
“Thousands of people across Aotearoa, including our government and the Minister of Finance, are calling for ACC to stop investing our public money in the fossil fuel industry. We’re taking action to send ACC’s Board a message that it needs to commit to divest from fossil fuels by the 31st of July.”
“Mandatory climate risk reporting is a necessary first step to help us shine a light on our public funds’ exposure to unsustainable and unethical investments in fossil fuels, but reporting alone is not enough,” said 350 Aotearoa Co-Director, Erica Finnie.