58147 (2024). Rachel Boyack to the Minister of Finance

58147 (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, has the Minister instructed 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: I am advised by ACC that it does have investments in companies on the 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 ACC Board. The Government has not instructed 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.