22 Jun 2011

Green Party objects to Superannuation Fund investment

3:22 pm on 22 June 2011

The Green Party says the New Zealand Superannuation Fund should not be investing in a company involved in building nuclear-armed submarines for India.

Party co-leader Russel Norman says the fund holds about $2 million worth of shares in the Mumbai-based company Larsen and Toubro Limited.

He says it is a multinational company involved in designing and building a fleet of nuclear-armed submarines for India.

Dr Norman says it is irresponsible for the New Zealand Superannuation Fund to be making money from nuclear proliferation in a world region that is highly unstable.