58146 (2024). Rachel Boyack to the Minister of Finance

58146 (2024). Rachel Boyack to the Minister of Finance: Does the ACC currently invest in any companies listed by the United Nations as involved in Israel’s unlawful settlements in the Occupied Palestinian Territories; if so, does the Minister plan to instruct ACC to divest from companies listed by the United Nations as involved in Israel’s unlawful settlements in the Occupied Palestinian Territories?

Hon Nicola Willis: ACC makes its investment decisions independently from the Government. We don’t direct ACC as to what it can and can’t invest in. We do have an expectation ACC has an ethical investment policy as per its legislation, and that ACC applies and reviews that policy regularly, which ACC does. I am advised by ACC that it has investments in companies on the United Nations list. None of the companies are subject to sanctions by the United Nations or the New Zealand Government. ACC holds a long-standing Ethical Investment Policy that is kept under active consideration. The ethical investment policy is publicly available and owned by the ACC Board. I am comfortable with ACC’s approach. The Government does not plan to instruct ACC to divest any holdings, and instructing ACC in this way would represent a significant departure from the principle of ACC’s independence in investment choices, a principle that has been upheld by successive governments.