NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / New Zealand

<EM>Robert Howell: </EM>Good values for our money

2 Jan, 2006 05:12 AM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Opinion by

When the Sudoku has got too diabolical, the monster crossword has been tamed, relatives and friends have told you about their year's activities, and you are searching for something to revive the banter across the barbecue, then you might like to discuss how the Government should invest its money.

There is presently $24 billion for pensions and earthquake and accident compensation reserves, which will grow over the next 15 or so years to something like $120 to $150 billion.

The criterion that is used is to avoid prejudice to New Zealand's reputation as a responsible member of the world community. While this sounds impressive, it has not stopped investment in tobacco companies, and companies with unacceptable or questionable human rights, or social and environmental practices: companies for example, that operate in Myanmar, or are at the forefront in contributing to the problems of global climate change. This means that the "prejudice to our international reputation" criterion is useless in providing direction.

It also raises a problem for the consistency of government policy when our health agencies are trying to reduce use of the addictive weed (the legal one at least), and our climate change office to ponder how best to tax animal belching, Japanese car hand-me-downs, and other environment nasties, and predict the effect of ever rising tides (global warming adds a new dimension to the Maori foreshore debate).

To invest in a socially and environmentally responsible way does not mean that financial returns have to be compromised. There are indications that investments in some areas, such as renewable energy, are more profitable. In addition to directing investment in a positive way, it also means adopting ways of screening out unacceptable companies, and engaging in ways of changing the behaviour of others.

Engagement is best done collectively to be effective and efficient. For example, there are 155 institutional agencies overseas with $21 trillion under investment which have grouped together under the Carbon Disclosure Project and have been asking the largest 500 companies under the FT index what their policies are regarding climate change.

They have decided that the risks of climate change are too great for long-term sustainable returns on their investments and that they need to exercise their ownership responsibilities. Our government funds have not joined them because the international reputation criterion is too weak to justify such action.

The task then is to find another criterion. In Sweden they have said that the international norms that their country has signed up to at the United Nations and other international assemblies are to be taken into account. They have used these to confront a major Japanese finance agency about their discrimination against women employees, Walmart about its use of child labour in China, and a petroleum company about its abuse of international labour laws.

In France the Fonds de Reserve state pension fund aims to maximise investment returns over the long term and under the best possible conditions of security. Its investment policy must also be consistent with certain shared values that promote economically, socially and environmentally sustainable development.

Another option is to act as a responsible world citizen. The international reputation criterion is negative, and excludes New Zealand playing its part as an international citizen in a positive way.

There may be other options that you come across. The trick is to develop a simple set of words that avoids our parliament having a hands-on approach, but gives clear direction for the funds to invest in a way that fair-minded New Zealanders would want to happen. Let the discussion continue.

* Dr Robert Howell is chairman of the Council for Socially Responsible Investment

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.
Save

    Share this article

Latest from New Zealand

New Zealand

Lotto: Powerball not struck, one First Division player $1 million richer

12 Jul 08:04 AM
New Zealand

Wall of water floods Kaiteriteri holday park

12 Jul 07:55 AM
New Zealand

Landslides, flooding, fallen trees: Nelson-Tasman residents urged to stay home

12 Jul 06:34 AM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.
Recommended for you
All Blacks put France to sword as Dave Gallaher Trophy returns to New Zealand
All Blacks

All Blacks put France to sword as Dave Gallaher Trophy returns to New Zealand

12 Jul 09:07 AM
All Blacks reclaim Dave Gallaher Trophy with dominant win over France
All Blacks

All Blacks reclaim Dave Gallaher Trophy with dominant win over France

12 Jul 08:53 AM
Lotto: Powerball not struck, one First Division player $1 million richer
New Zealand

Lotto: Powerball not struck, one First Division player $1 million richer

12 Jul 08:04 AM
Wall of water floods Kaiteriteri holday park
New Zealand

Wall of water floods Kaiteriteri holday park

12 Jul 07:55 AM
Landslides, flooding, fallen trees: Nelson-Tasman residents urged to stay home
New Zealand

Landslides, flooding, fallen trees: Nelson-Tasman residents urged to stay home

12 Jul 06:34 AM

Latest from New Zealand

Lotto: Powerball not struck, one First Division player $1 million richer

Lotto: Powerball not struck, one First Division player $1 million richer

12 Jul 08:04 AM

Time to check your Lotto numbers to see if you are $1 million richer.

Wall of water floods Kaiteriteri holday park

Wall of water floods Kaiteriteri holday park

12 Jul 07:55 AM
Landslides, flooding, fallen trees: Nelson-Tasman residents urged to stay home

Landslides, flooding, fallen trees: Nelson-Tasman residents urged to stay home

12 Jul 06:34 AM
Second venomous sea snake washes ashore in Coromandel

Second venomous sea snake washes ashore in Coromandel

12 Jul 06:00 AM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP
search by queryly Advanced Search