The Alliance can’t believe the blinkered attitude of the boards of the Government Superannuation Fund Authority and the National Provident Fund who decided to continue their $150 million dollar investment in fossil fuels.
Apparently, for these ostriches, the existential risk to humanity and the destruction of the ecosystem must be balanced against ‘financial risk and reward’ and the possibility of ‘an attractive return at the right price’.
There will be no return from the climate crisis. Our government guaranteed investment funds, including ACC, would be ideal vehicles for investment in renewable energy sources, energy efficient production systems, and alternatives to fossils fuels. They have the ability to influence the markets and help us move in the right direction with our energy use. Let’s get our heads out of the sand and start working towards a liveable future.
It’s time the New Zealand government exercised its responsibility to protect the people and environment of New Zealand from the damage caused by fossil fuels. Grant Robertson should use his powers under the Crown Entities Act to end fossil fuel investment by government funds and the Environmental Protection Authority should revoke all further oil exploration permits and end OMV’s drilling operations immediately.