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.
I’m writing to you because I think you share my concern over the growing income divides in New Zealand – which, as was revealed last week, are now the highest in recent history.
As you may know, I’m coordinating a major book on exactly this subject, to be published by Bridget Williams Books next year. As the first step in raising awareness of the issue and the book, I’ll be hosting two talks at Te Papa on inequality in coming months.
The first is a few weeks away, 6.30pm on Thursday, 13 September, and will be a thought-provoking introduction to and discussion of inequality in New Zealand, looking at why it poses such a great threat to our society, economy and collective well-being. More details here.
The second talk, on Thursday, 4 October, will look at ways that New Zealand could change course and create a fairer, stronger society that has smaller income gaps and makes greater use of everyone’s ability. More details to follow.
If you can’t make it on the 13th, but would like to submit a question to one of the speakers, or just show your support for the event, you can do so through the event’s Facebook page.
I’m also going to be writing regularly about inequality, and will be sending out a weekly email to keep people abreast of the debate and my progress on the book. Please encourage people to sign-up for these emails by directing them to www.maxrashbrooke.org.nz/inequality.
I think growing inequality is one of the greatest issues we face, and I hope you'll support me in trying to do something about it. Come to the talks, get in touch – and please do forward this around your networks as well.
Forums for the Future: Between Rich and Poor Te Papa, October 4 More details to follow
ABOUT THE BOOK
Inequality: A New Zealand Crisis will examine the explosion in the rich-poor divide during the last 30 years, its effects on our society, and how it might be reversed. [More]
Child Poverty Action Group is auctioning on Trade Me a set of three Tom Scott cartoons, originally drawn for the Inside Child Poverty documentary shown on TV3 last year just before the election. We would love you to be a part of it.
The brilliant cartoons cover a turbulent time in New Zealand’s history and, in a nutshell, sum up the neo-liberal reforms of the 80’s and 90’s. The cartoons are a prize for collectors and anyone who lived through New Zealand’s economic revolution. They feature fabulous caricatures of Robert Muldoon, Roger Douglas and Ruth Richardson. View the doco clip the cartoons feature in here
What a prize these cartoons are for collectors - they could be yours!
Tom Scott has kindly donated these cartoons to Child Poverty Action Group to help raise funds towards our 2012 Appeal: A fair go for all Kiwi Kids. Tom with sign each cartoon once the auction has been won, personalising them for the lucky winner.
Help CPAG continue to fight for the rights of New Zealand’s poorest children. One in five children in poverty cannot be our future. To make a donation directly to the Appeal, please click here.
Let all your family, friends, work colleagues and wider networks know too!
As always, your support is greatly appreciated. Thank you.
Nga mihi
Marianna Munting
CHiLD POVERTY ACTION GROUP Coordinator
“I know, up on top you are seeing great sights, but down here at the bottom, we too, should have rights” Dr Seuss.
The Green Party of Aotearoa New Zealand, Australian Greens & Green Party of Canada have released a joint statement expressing concerns about the Trans-Pacific Partnership Agreement.
Bloomberg reports that the IMF has identified Iceland's refusal to bail out bank creditors and its subsequent imposition of capital controls as the reason for its survival of the GFC. Should NZ ever find itself in a similar position, the use of such controls will likely be prohibited by the imminent Trans-Pacific Partnership Agreement (See also the recent analysis of the TPPA by Jane Kelsey and Bill Rosenberg).
The incisive Mr Monbiot considers the un-dead neo-liberal zombie:
"...the state and the market are not, as neoliberals insist, in perpetual conflict. Instead they have united around the demands of giant corporations."