Understanding BNZ’s responsible investing
Investing our customers’ money responsibly is one of our core commitments to you. We believe that investing responsibly is in the best long-term interests of our investors.
BNZ’s responsible investment policy pdf 64Kb incorporates Environmental, Social and Governance (ESG) factors into how we develop and manage our investment options. Our responsible investment policy helps ensure the investment decisions we make reflect the changing attitudes of our investors and society.
What we don’t invest in
Our policy currently excludes investments in companies that:
Oil and gas
- generate more than 10% of their revenue from oil and gas exploration and production. This includes revenues from oil sands extraction, oil and gas exploration in the Arctic or Antarctic regions and shale oil exploration and extraction
- own proved or probable reserves in oil and gas (including reserves related to tar sands or shale oil)
- have their primary business activity in oil and gas drilling; oil and gas equipment services; integrated oil and gas; and oil and gas exploration and production sub industries
- generate more than 10% of their revenue from the extraction or burning of thermal coal
- own proved or probable reserves in thermal coal
- have their primary business activity in the Coal and Consumables Fuels
- manufacture tobacco or tobacco products
- generate more than 10% of their revenue from the sale of tobacco and tobacco products
- generate more than 10% of their revenue from the sale of vaping products
- generate more than 10% of their revenue from packaging tobacco and tobacco products
- generate more than 10% of their revenue from gambling establishments
- generate more than 10% of their revenue from manufacturing or importing specialised gambling equipment or providing supporting products or services to gambling operations
- generate more than 10% of their revenue from producing or distributing adult entertainment material, products, or services
- hunt whales for commercial purposes, or process whale meat
- produce or develop cluster munitions and anti-personnel mines
- manufacture or test nuclear weapons
- manage facilities used to assemble or refurbish nuclear weapon and manufacture delivery systems for nuclear weapons
- manufacture assault weapons for civilian use.
We expect our investment managers to engage with companies on ESG matters. We will work with relevant investment managers to implement any changes to our Responsible Investment Policy, generally within 3-months of the date it is issued.
Our underlying investment managers
We use the expertise of experienced global and domestic investment managers to manage our investments solutions. BNZ Investment Services Limited is a signatory to the Principles for Responsible Investment, as are all of our managers. When we are appointing or reviewing managers we consider whether they have incorporated ESG considerations into their investment process.
Our current underlying investment managers for each asset class are set out below.
|Asset class||Investment managers|
|Cash and cash equivalents||Nikko Asset Management New Zealand Limited|
|New Zealand fixed interest||
Harbour Asset Management Limited
|International fixed interest||
Columbia Threadneedle Investments
Castle Point Funds Management Limited
State Street Global Advisors, Australia, Limited (BNZ KiwiSaver Scheme, YouWealth)
While we aim to keep this information current, the underlying investment managers can be added to, removed or changed without prior notice.