Superannuation funds caught out on cluster bombs

by frog

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.

frog says

Published in Justice & Democracy by frog on Fri, December 7th, 2012   

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