Human Rights, Environment Obligations, and Ethical Investment: Aotearoa New Zealand is Going Down the Wrong Path
Dr Robert Howell
1 Introduction and Summary
A considerable portion of the world’s investments are unethical in that they have inadequate regard for the welfare of people and/or the planet. They invest in companies that abuse workers’ or other stakeholders rights. Their activities destroy our environment. Very few companies are fully fossil-free, or operate within ecological boundaries. One of the reasons for this is that the term ethical investing is defined by such unvalidated concepts as ESG, or responsible.
Should the Reserve Bank target unemployment as well as inflation? Will the new government abolish the dual mandate?
Back in 1989 – near the end of the fourth Labour government – the inflation-busting Reserve Bank Act was passed. Labour has shifted well away from the Rogernomics of that decade, and in 2021 Grant Robertson added maximum sustainable employment to the bank’s mandate - with the support of coalition partner NZ First.
Our Reserve Bank joined a powerful grouping of central banks that have dual targets, including the US Federal Reserve, the Reserve Bank of Australia, the Bank of Canada, the Bank of England and the European Central Bank.
Going into the 2023 election, National and Act committed to a return to the 1989 objective. Will they take us out of the mainstream and into a straitjacket rather than a life-jacket? And how does it square with their stated aim of getting people off the dole and back to work?
The next three years – the job ahead for Labour, Greens and Te Pāti Māori
The Fabians had a session on Nov 14th reflecting on the elections. Our panel of Simon Wilson, Senior Writer at NZ Herald, Bridie Witton, Stuff Press Gallery Reporter and Ollie Neas, freelance writer used the election results as a springboard to target some of the key issues for Labour, the Greens and Te Pāti Māori as they head into opposition.
Thank you for the opportunity to discuss the Pae Ora health reforms with you.
Since I was sacked by the Health Minister I have taken time to reflect on the experience and to make a considered assessment of what I learned in the process. My intention tonight is to share that with you, making the assumption that we share common ground in wanting to have an effective, efficient, excellent and equitable public health service.
If anyone does not want that, I don’t really have anything useful to share with you.
The speakers for our next free seminar, in Auckland on Monday 30th August, are Susan St John and Sue Bradford.
Sue will examine what this Government is trying to do with the Welfare Working Group, background the current situation with child poverty, and look at some of the ways forward.
Susan asks the questions 'Why didn’t we fix child poverty when we had the chance? Working for Families is a lost opportunity? Is a Universal Child Benefit the answer, or is there another way?'
Both speakers will outline what they consider to be the way forward and the best ways for us to act.
Dr Susan St John Child Poverty Action Group
Sue Bradford Alternative Welfare Working Group
This is a burning moral and economic issue for our society, so please come and join the debate. The Auckland free seminar will be held 5.30-7.30pm, Monday 30th August, in Room 310, Decima Glenn, Owen Glenn Building, University of Auckland Business School.
You can register on our web site. If you know of others who may be interested, please take advantage of the 'Tell a Friend' feature on the registration page.
Our first seminar in the Resilient Economy Series identified a number of key factors hampering New Zealand's real economy. These included the need for a more stable currency, encouragement of more investment in our productive enterprises and the negative impact of the current implementation of monetary policy. We now look to some of the options for addressing these problems.
Dr Rick Boven Director of the New Zealand Institute
Ganesh Nana BERL Economics
This next event sees Ganesh Nana of BERL Economics, a provocative commentator from other Fabian seminars, discuss with Rick Boven from the New Zealand Institute exactly what we need to do to build a truly Resilient New Zealand Economy. The New Zealand Institute is an independent think-tank with its own project focussed on improving New Zealand's competitive strength.
These issues are important for our future, so please come and join the debate. This free seminar will be held 5.30-7.30pm, Monday 23rd August, at Connolly Hall, 40 Hill St, Thorndon. Register here to ensure your place, as the recent Auckland seminar was standing room only.
Our first seminar in the Resilient Economy Series identified a number of key factors hampering New Zealand's real economy. These included the need for a more stable currency, encouragement of more investment in our productive enterprises and the negative impact of the current implementation of monetary policy. We now look to some of the options for addressing these problems.
Dr Rick Boven Director of the New Zealand Institute
Selwyn Pellett Productive Economy Council
This next event sees Selwyn Pellett of the Productive Economy Council, a forthright commentator from other Fabian seminars, discuss with Rick Boven from the New Zealand Institute exactly what we need to do to build a truly Resilient New Zealand Economy. The New Zealand Institute is an independent think-tank with its own project focussed on improving New Zealand's competitive strength.
These issues are important for our future, so please come and join the debate. This free seminar will be held 5.30-7.30pm, Tuesday 10th August, in Room 260-206, Owen G Glenn Building, University of Auckland Business School, 12 Grafton Rd. A Wellington seminar will be held on August 23rd.
In an article in the latest NZ Listener, entitled 'Thinkers slake their thirst', Jane Tolerton notes the overdue re-emergence of a NZ Fabian Society and the impact the Fabians have had in the UK and Australia.
The full article will be available on-line on July 17th.
Arguments in NZ about the right mixture of government tax and spending initiatives have focused mainly on whether such measures might stimulate the economy. Among the major themes of the recent budget were the alleged need to address the 'undue tax burden' on high income earners and the implication that to widen and strengthen the tax net would deter investors. Instead, public sector austerity is to be the favoured path to revitalising the economy. While opponents have asserted that the opposite tack might provide even greater stimulation, there has been little analysis of this approach in terms of fundamental 'tax philosophy' and implications for social justice.