The Guardians of New Zealand Superannuation, manager of the $90 billion New Zealand Superannuation Fund, is considering its response to a judicial review decision, published today, in which the High Court found certain parts of the Guardians’ current sustainable investment policy documents do not comply with legislative requirements.
In broad terms, the Court found that the relevant parts of the policy documents did not identify with sufficient clarity the standards and procedures the Guardians applies in order to invest the NZ Super Fund “in a manner consistent with avoiding prejudice to New Zealand’s reputation as a responsible member of the world community”.
Guardians CEO Jo Townsend said the Guardians was strongly committed to operating as transparently as possible.
“We recognise that we are investing on behalf of all New Zealanders, and that gives people a legitimate interest in how we manage the Fund.
“We will thoroughly evaluate today’s decision and determine how best to respond to it.”
