KEY POINTS:
A Green Party study says only one KiwiSaver scheme can be described as providing a "responsible investment" option.
Green Party co-leader Russel Norman said the survey of 25 KiwiSaver providers showed only one had an ethical investment saving option.
This was Asteron, whose funds are managed by Tyndall.
"Asteron operates negative screening against companies involved in destructive activities as well as engaging with firms on a broad basis to encourage them to become more responsible," Dr Norman said.
Four other KiwiSaver providers - Axa, Gareth Morgan, Grosvenor and Legal and Professional Investment Services - all deserved an "honourable mention" for making an effort to avoid firms in bad practices such as whale meat and tobacco.
"Unfortunately this kind of negative screening generally only applies to a small part of their portfolio," he said.
Seven other KiwiSaver providers - AMP, ASB, Fidelity Life, Medical Assurance Society, Mercer, SuperLife and Tower - had indicated they were considering a responsible investment option. But a number of providers still seemed sceptical about the idea of an ethical investment option.
- NZPA
