From next week all default KiwiSaver funds will have had to quit investment in fossil fuels.
But a recent analysis shows when it comes to retirement funds, Kiwis are still well invested in the fossil fuel industry to the tune of $1.5 billion in Kiwisaver, and another $1.3 billion in retail funds.
The analysis was done by Mindful Money, a charity that promotes ethical investment.
CEO Barry Coates believes many Kiwis are unaware of the extent to which their KiwiSaver is helping to prop up the fossil fuel sector, even as financial risks of doing that - let alone the climate risks - become clearer.
Photo: BeFunky
