Barry Coates: Mindful Money founder and CEO on KiwiSaver providers turning towards ethical companies
KiwiSaver providers are turning away from controversial companies, instead gravitating towards ethical ones.
Data from Mindful Money shows several of the largest KiwiSaver providers have reduced their investment in companies with a harmful output.
In the six months to September last year, there's been a 72 percent drop in investment in tobacco companies, a 35 percent reduction in weapons, and a 29 percent reduction in gambling.
Mindful Money founder and CEO Barry Coates says most consumers want to make ethical choices.
"Investments in tobacco companies, weapons, gambling, human rights violations, fossil fuels, etc- for most people, they don't want their money to go into those things."
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