29 Oct 2019

Global investment funds driving increased fossil fuel investment

From Nine To Noon, 9:09 am on 29 October 2019
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Photo: 123RF

Climate change awareness and action is on the rise, but to what extent are New Zealanders investing in one of the main drivers of climate change  - the fossil fuel industry?

Research by The Guardian newspaper found the top three largest money managers in the world have a $300 billion US dollar investment portfolio in fossil fuels. The investment by US index fund firms Vanguard, BlackRock and State Street, known as the Big Three, has surged more than 34% since 2016.

Kathryn is joined by Patrick Greenfield, who's been researching the story for The Guardian newspaper, along with Dr Bart Frijns, who's the director of the Centre for Financial Research at AUT and Barry Coates, who set up Mindful Money, a charity which helps Kiwis with ethical investing.

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