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Article

7 Apr 2021

Author:
Anna Whyte, 1 NEWS

National wants answers from NZ Super Fund after links with Myanmar military revealed

7 April 2021

...

...New Zealand's Government savings scheme has shares in a controversial Indian company, Adani, that is working closely with Myanmar's armed forces.

Adani is building a port in Myanmar, as well as paying tens of millions of dollars in lease fees to a company run by the military.

National's foreign affairs spokesperson Gerry Brownlee...said... "The recent allegation of Super Fund investment in a company associated with military government activity in Myanmar demonstrates the need for parliamentary confidence in the ethical investment decision structure independently exercised by the funds.

...

A spokesperson for the Guardians of NZ Superannuation told 1 NEWS it was "important to note we don’t reflexively exclude companies when issues emerge".

"We use international experts to monitor the business practices of the more than 6,000 companies the Fund is invested in and engage with individual companies where concerns arise.

"Where companies have not responded to engagement or we consider engagement is unlikely to be effective, the Guardians may consider whether exclusion is an appropriate response."

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