Call to reverse growing NZ investment in fossil fuels

Mindful Money's Barry Coates says the transition to renewable energy has been been "somewhat slow". (Image: file)

Thu, 07 Dec 2023

Strong oil prices have seen KiwiSaver and New Zealand-managed funds pour into the fossil fuel sector, but Mindful Money wants small investors to force divestment.High oil prices have led to disappointing short-term returns for many ethical investment funds.Barry Coates, the founder of the ethical investment charity, said oil prices could turn around at any time. During the Covid pandemic, a small decline in oil demand had led to prices going to zero and even negative.“It's a kind of sugar hit for those who are chasing higher pric...

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