Superannuation funds caught out on cluster bombs

In 2008 New Zealand hosted the Wellington Conference on Cluster Munitions.  This was the largest disarmament meeting ever convened in New Zealand.  On its closing day 82 Countries committed to negotiating a treaty banning these weapons.

Cluster bombs are weapons that can go on killing long after a battle has taken places.  They are a weapon that inflicts more casualties on civilians than combatants in some countries.

This is why it is imperative that  we avoid supporting companies that make these weapons.

It is therefore deeply disappointing that Russel has discovered the Government continues to invest in cluster bomb manufacturers despite making a specific commitment not to.

Answers to Parliamentary written questions show that the Government’s National Provident Fund and Government Superannuation Fund invest, through trusts and investment vehicles, $2.2 million in three companies that are involved in the production of cluster bombs, despite section 10 of the Cluster Munitions Prohibition Act 2009 which specifically prohibits it. The companies involved are: Lockheed Martin, Raytheon, and L-3 Communications.

The money being made for New Zealander’s retirement should not be coming from companies making weapons such as cluster bombs.

5 thoughts on “Superannuation funds caught out on cluster bombs

  1. It is increasing evident that money is this Govt. no.1 priority & the methods of getting it is irrelevant.. ‘environmental & social justice’ are a few words that maybe don’t exist in their vocabulary ?

    kia-ora

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  2. Sounds like an astute investment the way the world is heading. I mean, surely you have been watching the mainstream news lately?… Opps, I forgot that is just entertainment now. Never mind leemings… back to sleep.

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  3. Zedd Sedd

    It is increasing evident that money is this Govt. no.1 priority & the methods of getting it is irrelevant.

    Seems to me that if the gov’mint is going to pay for all the things the green party want them to hand out/provide, this would need to be a formal policy of the Party.

    Unless the photocopier will pay for it all for us that is.

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  4. “if the gov’mint is going to pay for all the things the green party want…”
    This is the comment of a TROLL. This post is about $2m out of over $20b.
    Although I give you full marks for your play on words dave.

    As for being an “astute investment”, Michael, did you even feel the point of this post as it flew over your head??

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