OPINION: It helps the planet and your pocket to exclude fossil fuel companies from your KiwiSaver.
That suggestion has been both praised and mocked over the last week after the Government announced that, from 2021, default KiwiSaver funds won’t be investing in oil or coal companies.
Default KiwiSaver funds are the funds you end up in if you don’t actively choose a fund yourself. You have to go somewhere, so a random choice is made from nine providers. It is these funds that will be going fossil-fuel free.
This is not imposing a blanket fossil fuel ban on KiwiSaver more generally. Funds that don’t have default status can still load up on coal and oil companies. If investors think that’s a good idea for their retirement savings, they can make that choice.
See more of John’s article here