Mindful Money, a new charitable social enterprise helping people to invest ethically, was launched last week in New Zealand.
The launch took place at a Go Live event in Auckland.
Mindful Money, a free service, provides members of the public with a platform to check what is in their current KiwiSaver investments and to easily find funds that align with their values.
As a starting point it enables KiwiSaver account holders to find out where their funds are invested.
The platform also allows users to find funds that align with their values and to easily switch to a more responsible fund.
It is also a source of information and discussion on responsible investment.
Currently, only 1% of KiwiSaver funds have policies to avoid sectors like gambling, pornography and alcohol.
And only 2% avoid investing in exploration and production of fossil fuels.
“Mindful Money is here to help the public with a simple choice – do you want to invest responsibly and use your money to avoid harm and do good?” says Barry Coates, founder of Mindful Money.
Coates has a long history working for environmental groups. He’s been the executive director of the World Development Movement, the executive director of Oxfam New Zealand and was a Green Party MP from 2016 to 2017.
When people hear about [changing to an ethical fund], most people want to do it.
“A survey that we did last year with RIAA and Colmar Brunton showed that Kiwis really want to be able to invest ethically, but they don’t know how to do it,” Coates says.
The survey suggested that around 71% of people expected their funds to be invested ethically, and 62% of those surveyed said they would be willing to change providers if the investment didn’t align with their values.
Source
- Supplied: Mindful Money
- thespinoff.co.nz
- Image: headspace.com