9 Apr 2017

Move to ban council investment in guns, gambling, tobacco

1:19 pm on 9 April 2017

Amnesty International has welcomed an Auckland Council proposal that would exclude it from making investments like weapons, tobacco and gambling.

auckland council logo

auckland council logo Photo: RNZ

Revisions to the council's Responsible Investment policy will be discussed by councillors on Tuesday.

The chair of the Finance and Performance Committee, Ross Clow, said councillors asked for a review of the existing policy to ensure investments were made ethically.

Mr Clow said there was an argument the invested money could be put to better use.

"The transport infrastructure is straining at the neck so is this the right place for us to hold the funds or is it better that we actually invest it in trying to fix basic infrastructure issues?"

Amnesty executive director Grant Bayldon said this was an important step for the council.

"Really it's one that other councils should be looking to follow. New Zealand over years has been a world leader and not just in getting nuclear weapons banned but also landmines and more recently cluster bombs.

"So there's really no way that we should be any part of the misery that they bring in the other parts of the world."