We are committed to the UN six Principles for Responsible Investment and adopt them as follows.
We will not invest in anything which may prejudice New Zealand’s reputation which includes (but are not limited to) those ventures which: Non-renewable energy & environment:
- earn revenue from the production of nuclear power; or
- relate to extractive industries (e.g. fossil fuel exploration and extraction including the mining of minerals or other geological materials, water bottling, oil and gas, unconventional oil and gas, thermal coal); or
- are likely to have a materially adverse impact on the climate or environment. Vice products:
- relate to adult entertainment;
- relate to alcoholic beverages;
- develop, cultivate, distribute and/or retail sell medical cannabis or cannabis for recreational purposes;
- relate to tobacco (including the manufacturing of tobacco or other nicotine-based products);
- relate to gambling, casinos and equivalent enterprises;
- relate to the manufacturing of weapons, including:
- military weapons;
- controversial weapons (cluster munitions, landmines, biological and chemical weapons, nuclear weapons and depleted uranium); or
- civilian firearms;
- involve the use of child labour, forced or compulsory labour, or other human rights abuses;
- promote any form of discrimination based on race, culture, gender, sexual orientation, or other prohibited grounds; or
- are illegal in the country in which the good or service is used or intended to be used.
We will also avoid investments that have contravened the ten principles of the UN Global Compact relating to Human Rights, Labour, Anti-Corruption and the Environment
It is possible that we may make investments that develop technologies related to these activities, however, we will only do so if they are developing solutions that reduce the harm of these activities. For example, a venture that develops technology to reduce the environmental impact of fossil fuel exploration and extraction would not be excluded from consideration.
In addition to excluding ventures in the above fields, we will actively consider ESG issues in our investment selection and due diligence processes to adequately consider the risks presented by ESG issues. In doing so, we will consider the nonfinancial impact of ventures in our investment decisions, favouring investments that demonstrate ability to deliver tangible, measurable positive impact.
This policy, including the above exclusions criteria, is subject to annual review to ensure that it remains fit for purpose, and may be updated from time to time to reflect any relevant changes to the business and investment environment, societal norms and investor attitudes.