New Zealand superfund to invest NZ$540 million in Green Investment Bank

In New Zealand, the New Zealand Superannuation Fund’s will invest NZ$540 million in the Green Investment Bank, a government-owned, for-profit bank that will invest in solar power to biofuel production, energy efficiency retrofits, and waste recycling. The Green Party has put forward a bill to Parliament that would require the Superannuation Fund to divest from mining and fossil fuels in the next five years and put the focus instead on more sustainably-focused investments rather than the stranded assets of the future.

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