Our policy is to avoid, where practicable, investment in companies whose activities are contrary to the intent of New Zealand legislation or various international agreements to which New Zealand is a signatory (for example, cluster munitions and tobacco products). However, as we invest via Mercer Investment Trusts New Zealand (MITNZ), we have no direct influence on individual securities held. Nonetheless, we will regularly question Mercer (N.Z.) Limited (Mercer), who implements our investment in MITNZ, and expect Mercer to be a signatory to the United Nations Principles for Responsible Investment and incorporate responsible investment considerations into its investment process.
In February 2020, Mercer published a climate change report which sets out in more detail the climate-related commitments made in their Responsible Investment Policy.