Call to reverse growing NZ investment in fossil fuels

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)
Greg Hurrell
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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