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		<title>NZ NGOs call for Superfund divestment from Israeli war crimes</title>
		<link>http://investmentwatch.wordpress.com/2009/12/03/nz-ngos-call-for-superfund-divestment-from-israeli-war-crimes/</link>
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		<pubDate>Thu, 03 Dec 2009 03:02:48 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
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		<description><![CDATA[Joint Media Release: Global Peace and Justice Auckland, Investment Watch Aotearoa/New Zealand, Palestine Human Rights Campaign 3 December 2009 NZ NGOs call for Superfund divestment from Israeli war crimes New Zealand peace and justice organisations are today restating a call made four weeks ago for the New Zealand Superannuation Fund to divest from Israeli investments [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=60&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://investmentwatch.files.wordpress.com/2009/12/bdscall.jpg"><img class="alignleft size-medium wp-image-61" title="bdscall" src="http://investmentwatch.files.wordpress.com/2009/12/bdscall.jpg?w=300&#038;h=159" alt="" width="300" height="159" /></a>Joint Media Release: Global Peace and Justice Auckland,  Investment Watch Aotearoa/New Zealand, Palestine Human Rights Campaign </strong></p>
<p><strong>3 December 2009</strong></p>
<p><strong> </strong></p>
<p><strong>NZ NGOs call for Superfund divestment from Israeli war  crimes</strong></p>
<p><strong> </strong></p>
<p>New Zealand peace and justice organisations are today  restating a call made four weeks ago for the New Zealand Superannuation Fund to  divest from Israeli investments as part of a global divestment campaign aimed to  put pressure on the Israeli occupation of Palestinian territories. Despite two  weeks ago announcing a temporary freeze on new settlement construction, 3000 new  homes for Israeli settlers in the West Bank will be constructed on Palestinian  territory, including annexed East Jerusalem.</p>
<p>The NZ Superannuation Fund currently holds investments in corporations  deeply complicit in the belligerent Israeli occupation of the West Bank, East  Jerusalem, Golan Heights and the blockade of the Gaza Strip. These include  Israeli banks, petrol stations and telecommunications companies that operate in  Israeli settlements in the Palestinian West Bank in violation of United Nations  Security Council Resolution 242 (1967) which calls for the withdrawal of the  Israeli military and settlement from the Palestinian West Bank.</p>
<p>The  Superfund also holds investments in Boeing, Caterpillar and United Technologies,  all of which manufacture military equipment such as fighter jets, attack  helicopters and armoured bulldozers complicit in the occupation and used to  carry out war crimes in the Gaza strip in January 2009. According to the United  Nations Israeli forces launched ‘direct attacks against civilians with lethal  outcome’ including the shelling of a house where soldiers had forced Palestinian  civilians to assemble and the targeting of a mosque at prayer time, resulting in  the death of 15 people.</p>
<p>“Four weeks  ago New Zealand NGOs asked the Guardians of the Superfund to divest from all  corporations involved in supporting the Israeli occupation of the West Bank or  in providing the military equipment Israel uses to carry out war crimes and  crimes against humanity,” said Investment Watch spokesperson Omar  Hamed.</p>
<p>“This week  the stalled peace process in the Middle East has a chance of being brought back  to life but only if the international community puts pressure on the Israeli  Government to completely halt and roll back the settlement process in the West  Bank and East Jerusalem. Just as New Zealand banks and insurance companies once  divested from apartheid South Africa, the Superannuation Fund should support the  Palestinian civil society call for divestment from the corporations that fuel  ongoing conflict in the Middle East,” said Omar Hamed.</p>
<p>“The entire world sits on edge as international diplomats and  politicians attempt to broker a ceasefire in Palestine, but until financial  institutions around the world like the Superfund refuse to be complicit in the  financing of war crimes and illegal settlement, the occupation and thus the  conflict will continue,” Mr. Hamed</p>
<p>Omar Hamed is available for comment on 029 4555 789 or  omar@unite.org.nz</p>
<p>&#8212;&#8212;&#8211;</p>
<p><a title="http://investmentwatch.wordpress.com/" href="../">Investment Watch</a> is a national  network campaigning for ethical investment by New Zealand Government funds. It  is supported by <a title="http://www.peacelaw.org.nz/" href="http://www.peacelaw.org.nz/">Aotearoa  Lawyers for Peace</a>, <a title="http://ausjp.wordpress.com/" href="http://ausjp.wordpress.com/">Auckland University Students for Justice in  Palestine</a>, <a title="http://ihrc.revolt.org/" href="http://ihrc.revolt.org/">Indonesia Human Rights Committee</a>, <a title="http://www.peace.net.nz/" href="http://www.peace.net.nz/">Peace  Foundation</a>, <a title="http://www.converge.org.nz/pma the national networking peace organisation" href="http://www.converge.org.nz/pma">Peace Movement Aotearoa</a> and <a title="http://www.converge.org.nz/pma/wilpf/" href="http://www.converge.org.nz/pma/wilpf/">Women’s International League for  Peace and Freedom (Aotearoa)</a></p>
<p><a title="http://gpjanz.wordpress.com/" href="http://gpjanz.wordpress.com/">Global Peace and Justice Auckland</a> is an  umbrella group for organisations and individuals involved in global justice,  anti-war and human rights campaigning in the Auckland region.</p>
<p><a title="http://palestine.org.nz/" href="http://palestine.org.nz/">Palestine Human Rights Campaign</a> campaigns  for the defence of Palestinian human rights in Aotearoa/New  Zealand.</p>
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		<title>New Zealand Superannuation Fund investments in Occupation of Palestinian and Syrian Lands</title>
		<link>http://investmentwatch.wordpress.com/2009/11/10/new-zealand-superannuation-fund-investments-in-occupation-of-palestinian-and-syrian-lands/</link>
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		<pubDate>Tue, 10 Nov 2009 23:03:47 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
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		<guid isPermaLink="false">http://investmentwatch.wordpress.com/?p=54</guid>
		<description><![CDATA[&#160; &#160; &#160; Dear David May, Chair, Guardians of the N.Z. Superannuation Fund, New Zealand Superannuation Fund investments in Occupation of Palestinian and Syrian Lands The New Zealand Superannuation Fund currently holds investments in corporations deeply complicit in the belligerent Israeli occupation of the West Bank, East Jerusalem, Golan Heights and the blockade of the Gaza [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=54&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><strong> </strong></p>
<p><strong><img class="alignleft size-medium wp-image-51" title="logo" src="http://investmentwatch.files.wordpress.com/2009/11/logo2.jpg?w=300&#038;h=55" alt="logo" width="300" height="55" /></strong></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>Dear David May, Chair, Guardians of the N.Z. Superannuation Fund,</p>
<p><strong>New Zealand Superannuation Fund investments in Occupation of Palestinian and Syrian Lands</strong></p>
<p>The New Zealand Superannuation Fund currently holds investments in corporations deeply complicit in the belligerent Israeli occupation of the West Bank, East Jerusalem, Golan Heights and the blockade of the Gaza Strip.</p>
<p>Investments in these corporations materially support the continued Israeli occupation and Israel’s continual violation of United Nations resolutions and international human rights and humanitarian law.<span id="more-54"></span></p>
<p>According to international law and the United Nations’ UNSC resolution 242 (1967), the acquisition of territory by force is prohibited.  Israel has occupied the West Bank, East Jerusalem, Gaza Strip and Syrian Golan Heights since 1967.  This continuing occupation has been involved a myriad of serious human rights violations (see United Nations’ E/CN.4/2004/6).  Approximately five million Palestinian refugees are the result of successive Israeli expulsions since 1948. These refugees have their right to return and restitution under UNGA 194 (III) blocked by Israel. The unilateral annexation of Jerusalem by Israel is unlawful &#8211; cf. UNSC 252 (1968). The demographic and physical transformation of the Occupied Territories, through Israeli settler implants, is a war crime under the provisions of the Treaty of Rome of 1998 (A/Conf.183/9, Art8(2)(b) (viii).  The Israeli construction of a Separation Wall on occupied land violates the legal obligations of a belligerent occupier (A/ES-10/273).  Israel has thwarted the Palestinians’ right to self-determination, including the creation of a viable and sovereign state in their homeland &#8211; cf. UNGA 3236 (xxix) of 22 November 1974, UNSC 1397 (2002) and UNGA 58/292 of 6 May 2004.</p>
<p>On 9<sup>th</sup> July 2004, the highest judicial body of the United Nations, the International Court of Justice (ICJ), issued an Advisory Opinion on the Legal Construction of a Wall in the Occupied Palestinian  Territories (A/ES-10/273 and Cor.1.).  It ruled that the territory, including East  Jerusalem, is unambiguously under ‘belligerent occupation’, (para 78, 101, 120) and such occupation is a denial of the Palestinian rights of self-determination.  The ICJ ruled that both the Israeli settlements and the Separation Wall are built in breach of international law and that humanitarian law, the laws of war and human rights law apply cumulatively in the Occupied Palestinian Territory (paras 105-114).</p>
<p>The ICJ also stated that all States are under an obligation not to recognise the illegal situation resulting from the construction of the Separation Wall, must not render aid or assistance in maintaining that situation, and must see to it that any impediment to the Palestinian people’s right to self determination is brought to an end (para 159).  All States Parties to the Fourth Geneva Convention are under an obligation to ensure compliance by Israel with international humanitarian law as embodied in that Convention (para 159).  The Court found that the Israeli obligations to comply were <em>erga omnes</em>, that is to all members of the international community.  This in turn derived from the application of the <em>jus cogens</em> rule which means that breaches of obligation should not be recognised and this non-recognition is permanent.</p>
<p>Such a finding indicates a very high level of legal obligation to States Parties.  New Zealand is such a State Party, having signed the Fourth Geneva Convention on 11 February 1950 and ratified it 2 May 1959.</p>
<p>New Zealand has incorporated provisions of the Fourth Geneva Convention into New Zealand legislation, specifically the Geneva Conventions Act 1958 No19 (as of 1 July 2009), which is ‘An Act to enable effect to be given to certain International Conventions done at Geneva on the 12th day of August 1949 and to certain Protocols additional to those Conventions, and for purposes connected therewith’.</p>
<p>New Zealand’s International Crimes and International Criminal Court Act 2000, codifies the provisions of the Treaty of Rome, which relate to individual responsibilities for breaches of humanitarian law. This was the legislation under which a New Zealand judge issued an arrest warrant in 2006 for suspicion of war crimes against the former Chief of Israeli Defense Staff, now Minister of Strategic Affairs of Israel, Moshe Ya’alon, for his role in the assassination of Salah Shehade and others in Gaza in 2002.</p>
<p>On 20 July 2004, the General Assembly of the United Nations adopted by an overwhelming majority resolution ES-10/15 demanding that Israel heed the ICJ opinion.  New   Zealand voted in favour.  Israel had adamantly refused to acknowledge the legitimacy of the ICJ, and for that matter the application of the Fourth Geneva Convention.</p>
<p>In 2005 a coalition of Palestinian NGOs and civil society organisations issued a call for the rest of the world to actively pursue non-violent punitive measures until Israel meets its obligation to recognize the Palestinian people&#8217;s inalienable right to self-determination and complies with the precepts of international law by:</p>
<p>1. Ending its occupation and colonization of all Arab lands and dismantling the [Separation] Wall;</p>
<p>2. Recognizing the fundamental rights of the Arab-Palestinian citizens of Israel to full equality; and</p>
<p>3. Respecting, protecting and promoting the rights of Palestinian refugees to return to their homes and properties as stipulated in UN resolution 194 (III).</p>
<p>·            Since September 2000, the Israeli army has killed more than 6,500 men, women and children in the Occupied Palestinian Territories (including Gaza) (OPT), by means of bombing, house demolitions and targeted assassinations. (Source: Palestine Solidarity Campaign, <a href="http://www.palestinecampaign.org/images/apartheid%20factsheet%20-%20web.pdf" target="_blank">http://www.palestinecampaign.org/images/apartheid%20factsheet%20-%20web.pdf</a>)</p>
<p>·         Currently, about 10,000 Palestinian prisoners are being illegally held in Israeli jails, including more than 300 children, many under the system of ‘administrative detention’ — i.e. without charge or trial. (Source: Palestine Solidarity Campaign, <a href="http://www.palestinecampaign.org/images/apartheid%20factsheet%20-%20web.pdf" target="_blank">http://www.palestinecampaign.org/images/apartheid%20factsheet%20-%20web.pdf</a>)</p>
<p>·         Israel uses more than 80 per cent of the water from the Mountain Aquifer, the main source of underground water in Israel and the OPT, while restricting Palestinian access to a mere 20 per cent. Some 180,000-200,000 Palestinians living in rural communities have no access to running water and the Israeli army often prevents them from even collecting rainwater. (Source: Amnesty International, <a href="http://www.amnesty.org/en/news-and-updates/report/israel-rations-palestinians-trickle-water-20091027" target="_blank">http://www.amnesty.org/en/news-and-updates/report/israel-rations-palestinians-trickle-water-20091027</a>)</p>
<p>·         Fully 95% of the Separation Wall is being built on Palestinian territory rather than on Israel’s border, known as the Green Line. This means that the western sector of the Wall will effectively annex at least 10% of the West Bank to Israel. (Source: War on Want, <a href="http://www.waronwant.org/attachments/Profiting%20from%20the%20Occupation.pdf" target="_blank">http://www.waronwant.org/attachments/Profiting%20from%20the%20Occupation.pdf</a>)</p>
<p>·         The United Nations Human Rights Council Goldstone Report recently found that Israeli actions in the Gaza Strip between December 2008 and January 2009 may have amounted to war crimes. It cites a number of specific incidents in which Israeli forces launched ‘direct attacks against civilians with lethal outcome’. These are, the Report says, cases in which the facts indicate no justifiable military objective pursued by the attacks. The incidents described include: Attacks in the Samouni neighbourhood, in Zeitoun, south of Gaza City, including the shelling of a house where soldiers had forced Palestinian civilians to assemble; Seven incidents concerning ‘the shooting of civilians while they were trying to leave their homes to walk to a safer place, waving white flags and, in some of the cases, following an injunction from the Israeli forces to do so’;  The targeting of a mosque at prayer time, resulting in the death of 15 people. (Source: United Nations, <a href="http://www.unhchr.ch/huricane/huricane.nsf/view01/9B63490FFCBE44E5C1257632004EA67B?opendocument" target="_blank">http://www.unhchr.ch/huricane/huricane.nsf/view01/9B63490FFCBE44E5C1257632004EA67B?opendocument</a>)</p>
<p>The New Zealand Superannuation Fund, by investing in the listed corporations, is complicit in the occupation and the Israeli mechanisms of preserving that occupation, which include long-standing and severe breaches of international humanitarian and human rights law:</p>
<table border="1" cellspacing="0" cellpadding="0" width="553">
<tbody>
<tr>
<td valign="top"><strong>Corporation</strong></td>
<td valign="top"><strong>Amount Invested </strong></td>
<td valign="top"><strong>Activity<a href="#_ftn1"><strong>[1]</strong></a></strong></td>
</tr>
<tr>
<td valign="top">Bank Leumi Le-Israel BM</td>
<td valign="top">$1,475,329</td>
<td valign="top">The second largest bank in Israel. Has branches in the   following settlements in the West Bank: Ma&#8217;ale Edomim, Oranit, Pisgat Ze&#8217;ev,   Gilo and Kiryat Arba, and in Katzerin in the Golan    Heights.</td>
</tr>
<tr>
<td valign="top">Bezeq Israeli Telecommunication Corp Ltd</td>
<td valign="top">$227,510</td>
<td valign="top">The major Israeli telecommunication company. The company   provides telecommunication services to all of the Israeli settlements, army   bases and checkpoints in the West Bank and   to Israeli settlements in the Syrian Golan Heights. The company built   telecommunication infrastructure throughout the West Bank and Golan Heights.Additionally, its full subsidiary, Pelephone Communications, is an Israeli   provider of cellular phone services, which erected close to a hundred   antennas and telecommunication infrastructure facilities on occupied land in   the West Bank and the Golan heights and   provides cellular communication services to the settlers and Israeli soldiers   in the occupied territory.
<p>&nbsp;</p>
<p>The company also owns YES which provide satellite broadcasting services to   some of the checkpoints and to all Israeli settlements.</td>
</tr>
<tr>
<td valign="top">Boeing</td>
<td valign="top">$701,826</td>
<td valign="top">Supplier of the F-15 Eagle and the AH-64 Apache attack   helicopter to Israel.</td>
</tr>
<tr>
<td valign="top">Caterpillar</td>
<td valign="top">$1,162,877</td>
<td valign="top">Supplies bulldozers to the IDF. The IDF uses these to   destroy Palestinian homes, orchards and olive groves in the Occupied Territories.    They are also used to clear Palestinian land for illegal Israeli settlements,   segregated roads and the Separation Wall. Despite years of corporate   engagement by investors, Caterpillar is expanding its role in the occupation,   recently announcing a joint venture with InRobTech to develop unmanned   remote-controlled bulldozers for Israel.</td>
</tr>
<tr>
<td valign="top">Cellcom Israel Ltd</td>
<td valign="top">$137,157</td>
<td valign="top">An Israeli provider of   cellular phone services.The company erected close to two hundred antennas and telecommunication   infrastructure facilities on occupied land in the West Bank and the Golan Heights. The company provides cellular   communication services to the settlers and Israeli soldiers in the Occupied Territory.</td>
</tr>
<tr>
<td valign="top">Delek Group Ltd</td>
<td valign="top">$37,945</td>
<td valign="top">A fuel distributor. The   company owns and operates a chain of Delek gas stations and Menta convenience   stores near and in West Bank settlements</td>
</tr>
<tr>
<td valign="top">Elbit Systems Ltd</td>
<td valign="top">$133,596</td>
<td valign="top">One of two main   providers of the electronic detection fence to the Separation Wall project in   the occupied West Bank.Specifically, received the contract to the Jerusalem Envelope section of the   Wall (Masu&#8217;a system) with the US Detekion.
<p>&nbsp;</p>
<p>Subsidiaries Elbit Electro-Optics (El-Op) and Elbit Security Systems (Ortek)   supplied and incorporated LORROS surveillance cameras in the Ariel section   and for the A-ram wall.</p>
<p>The company supplied UAVs (Unmanned Aerial Vehicles) to the Israeli army,   which are in operational use in during combat in the West Bank and Gaza. The cameras in   these UAV are manufactured by Controp Precision Technologies.</p>
<p>According to reports, the company developed an armed UGV (Unmanned Ground   Vehicle) for patroling the border with Controp Precision Technologies and   Tomcar.</td>
</tr>
<tr>
<td valign="top">Israel Bank Hapoalim BM</td>
<td valign="top">$1,892,635</td>
<td valign="top">The largest Israeli   Bank. Has branches in the illegal Gilo and Giv’at Ze’ev West Bank settlements   and in the Golan Heights</td>
</tr>
<tr>
<td valign="top">Makhteshim-Agan   Industries Ltd</td>
<td valign="top">$1,803,893</td>
<td valign="top">Owns Fibertech which   manufacture fiberglass pipes and products in a factory located in Karnei   Shomron, which is an Israeli settlement in the occupied West Bank. The company also took part in various   infrastructure projects in the West Bank.</td>
</tr>
<tr>
<td valign="top">Mizrahi Tefahot Bank   Ltd</td>
<td valign="top">$1,274,138</td>
<td valign="top">The Bank has branches   in the following West Bank settlements: Alon   Shvut, Karnei Shomron, Kedumim and Ramat Eshkol.The bank signed a financing agreement with the construction company Heftziba   for the building of 58 housing units in the neighborhood settlement of Homat   Shmuel (Har Homa) in East Jerusalem (the   construction of most of the units was completed by 2008).</td>
</tr>
<tr>
<td valign="top">Partner Communications   Co Ltd</td>
<td valign="top">$137,182</td>
<td valign="top">An Israeli provider of   cellular phone services.The company erected more than 160 antennas and telecommunication   infrastructure facilities on occupied land in the West Bank and the Golan Heights.
<p>&nbsp;</p>
<p>The company provides cellular communication services to the settlers and   Israeli soldiers in the Occupied    Territories.</td>
</tr>
<tr>
<td valign="top">United Technologies</td>
<td valign="top">$5,517,080</td>
<td valign="top">Produces Blackhawk   helicopters which are used by the Israeli military to attack Palestinian   cities, refugee camps and villages.</td>
</tr>
</tbody>
</table>
<p>We note that the New Zealand Superannuation Fund has obligations in legislation.  Specifically, Section 58 of the New Zealand Superannuation and Retirement Income Act 2001, requires the Guardians of the Fund to invest so as to avoid prejudice to New   Zealand’s reputation as a responsible member of the world community.</p>
<p>Section 61(d) of the Act demands a Statement of Investment Standards and Procedures that provides for ethical investment to avoid prejudice to New Zealand’s reputation as a responsible member of the world community.</p>
<p>Moreover, we understand from your statement of Responsible Investment Policy, that the Trust is a founding signatory to the United Nations’ Principles for Responsible Investment.  In particular we are further told that the Guardians have adopted the United Nations Global Compact, which sets ‘core values’ for investment using considerations of such matters as human rights.</p>
<p>The relevant principles of the UN Global Compact are;</p>
<p>Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights; and</p>
<p>Principle 2. Make sure they are not complicit in human rights abuses.</p>
<p>Divestment from the corporations listed above would end the New Zealand Superannuation Fund’s complicity with the Israeli occupation of Arab lands and Israel’s ongoing breaches of international law and violations of human rights therein.</p>
<p>We look forward to hearing from you in the near future that you have divested from the above investments.  We, of course, are only too happy to meet with you to discuss these investments should you have any questions about them.</p>
<p>Yours Sincerely,</p>
<p>Omar Hamed</p>
<p><a href="mailto:Omarhamed123@gmail.com" target="_blank">Omarhamed123@gmail.com</a></p>
<p>6a Western Springs Road, Kingsland, Auckland.</p>
<p>On behalf of,</p>
<p>Investment Watch Aotearoa/New Zealand and,</p>
<p>Mike  Treen,</p>
<p>Global Peace and Justice Auckland</p>
<p>Janfrie Wakim,</p>
<p>Palestine Human Rights Campaign</p>
<p>Don Carson,</p>
<p>Wellington Palestine Group</p>
<p>Cc Bill English, Minister of Finance</p>
<hr size="1" /><a href="#_ftnref1">[1]</a> The information provided is from <a href="http://www.whoprofits.org/">http://www.whoprofits.org/</a>, an online database maintained by leading Israeli peace organisation, <em>The Coalition of Women for Peace</em>.</p>
<p>&nbsp;</p>
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		<title>Investment Watch &#8211; Letter on Nuclear Investments</title>
		<link>http://investmentwatch.wordpress.com/2009/11/10/investment-watch-letter-on-nuclear-investments/</link>
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		<pubDate>Tue, 10 Nov 2009 22:57:51 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
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		<description><![CDATA[Dear David May, Adrian Orr and the Board of Guardians, We have been very concerned about the decision of the New Zealand Superannuation Fund to limit its divestment of nuclear weapon related companies to those which are involved in producing or testing nuclear weapons.  This means that New Zealand taxpayers are continuing to invest through [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=46&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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<p>Dear David May, Adrian Orr and the Board of Guardians,</p>
<p>We have been very concerned about the decision of the New Zealand Superannuation Fund to limit its divestment of nuclear weapon related companies to those which are involved in producing or testing nuclear weapons.  This means that New Zealand taxpayers are continuing to invest through the Super Fund in companies which are involved in a range of direct nuclear related activities from making the rockets for US Intercontinental Ballistic missiles to maintaining British nuclear weapons bases.<span id="more-46"></span></p>
<p>We believe that this clearly against the spirit of the nuclear free legislation.  We would argue that this is also contrary to the letter of New   Zealand’s Nuclear Free Zone Disarmament and Arms Control legislation.  We also contend that the continued investment in companies that maintain and manufacture nuclear weapons delivery systems and manage nuclear bases will compromise New Zealand’s role as a leader in promoting nuclear disarmament.</p>
<p>We have studied documents (released under the terms of the Official Information Act) including the reports prepared for the Super Fund Board and the legal opinion of  D.L.A Phillips Fox,   6 October 2008.</p>
<p>In the discussion and in the legal evaluation distinctions are made among companies which</p>
<ul>
<li>produce or test nuclear      warheads (including simulated testing)</li>
<li>produce nuclear weapon      delivery systems,</li>
<li>provide nuclear bases      where nuclear weapons are deployed, stored or developed</li>
<li>produce dual use products      such as submarines or aircraft which can transport nuclear weapons</li>
</ul>
<p>We note that the legal opinion and the discussion papers conclude that activities in question are ‘unlikely’ to breach New Zealand’s international treaty obligations or involve a risk of prejudicing New Zealand’s reputation.  In other words there remains a possibility that New   Zealand would risk these highly deleterious consequences.  We also understand from the financial analyses about ‘portfolio diversity’ that the Super Fund would not risk serious financial harm by divesting from these nuclear involved companies.  So we would ask – why run this risk?</p>
<p>While we are appreciative of the comprehensive consideration of New Zealand’s domestic and international obligations and the Treaties we are signatory to, we consider that the final decision of the Guardians is based on a narrow technical approach to the critical questions.</p>
<p>We would contrast this approach to that taken by the Norwegian Government Pension Fund.  This Fund has taken the decision to divest from companies in the above categories, including United Technologies, Boeing BAE, Finmeccanica, and Safran SA.  These companies are involved with the development or production of nuclear weapons delivery and control systems.  For example, Safran SA produces nuclear missiles for the French Navy, and United Technologies produces the engines for the ICBMs in the US Airforce.   In total, as at 31 August 2009 the Super Fund has some $11.7 million invested in these companies.</p>
<p>The Norwegian Fund made its ethical decision on a somewhat broader perspective.  Martin Skancke Director General of the Norwegian Ministry of Finance expressed it thus: “We are asking the Norwegian public for their trust in setting aside every year between 15 percent and 20 percent of GDP in this fund. We would not be able to do that if the investment policy diverged too much from the basic, core, ethical belief of the average Norwegian.”  (The International Herald Tribune November 14, 2008)</p>
<p>In our view it is impossible to make distinction between the nuclear weapons per se and the delivery systems designed to carry the weapons to their target and we believe this would be the view of the ‘average New Zealander’.</p>
<p>We have considered the points raised with respect to the New Zealand Nuclear Free Zone, Disarmament and Arms Control Act, the legal opinion suggests that investment in any of the companies categorized above would be unlikely to constitute a breach of the Act’s provisions.  The analysis is complex but relies to a considerable extent on the interpretation of the term ‘aiding and abetting’ and it is suggested that investment in the securities of a company could not be considered as equivalent to ‘aiding and abetting’.  It is also suggested that the Guardians of the New Zealand Superannuation Fund are not a New Zealand citizen so that the terms of both the Nuclear Free Zone Act and the Nuclear Test Ban Act would not apply to the activities of the Guardians outside New Zealand’s jurisdiction.</p>
<p>We believe that this analysis does not take adequate account of the purpose of the 1987 Nuclear Free Zone, Disarmament and Arms Control Act.  The title of the Act includes the words “to promote and encourage an active and effective contribution by New Zealand to the essential process of disarmament and international arms control…”  To our mind this suggests that the legislation was drawn up in the spirit of ensuring New Zealand continued to take a strong lead on nuclear disarmament and not hide behind narrow definitions.</p>
<p>Importantly, the New Zealand legislation also implements the terms of the Non-Proliferation Treaty and the Comprehensive Test Ban Treaty.  Both the Nuclear Non-Proliferation Treaty and the Comprehensive Test Ban Treaty refer to nuclear weapon delivery systems and set out the elimination of these systems as a key disarmament goal. The International Court of Justice issued an important advisory opinion on the legality of nuclear weapons in 1996, in which it also emphasised the responsibility of all parties to the Non Proliferation Treaty to eliminate arsenals of both nuclear weapons and their means of delivery.</p>
<p>The issue with respect to these Treaties is considered in discussion documents such as that presented to the Responsible Investment Committee on 16 June 2008.  A case for a stronger position on exclusion was made, but not finally accepted by the Guardians.</p>
<p>We urge the Guardians of the Superannuation Fund to reconsider the decision on divestment from nuclear weapons related companies.  We strongly advocate that the Guardians take the next step and divest from all companies involved in producing or maintaining nuclear weapon delivery systems or providing nuclear basing facilities.</p>
<p>We would welcome an opportunity to discuss these matters with you in person.</p>
<p>Yours sincerely,</p>
<p>Maire Leadbeater</p>
<p>For Investment Watch</p>
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		<title>Maire Leadbeater: Super Fund has a way to go when it comes to investing ethically</title>
		<link>http://investmentwatch.wordpress.com/2009/01/13/maire-leadbeater-super-fund-has-a-way-to-go-when-it-comes-to-investing-ethically/</link>
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		<pubDate>Tue, 13 Jan 2009 03:39:20 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
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		<description><![CDATA[It was great to hear the New Zealand Super Fund announce this month that it had decided to divest from seven companies involved in cluster munitions and the simulated testing of nuclear explosive devices. Not a moment too soon, considering New Zealand helped to pave the way for the treaty banning cluster munitions, which is [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=41&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><strong><span style="font-family:Arial;font-size:x-small;"><span style="font-size:11px;color:#000000;font-family:Helvetica;"><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;"></p>
<div class="wp-caption alignleft" style="width: 361px"><span><img title="Freeport" src="http://cache.daylife.com/imageserve/03yq2ce3iF7Qm/610x.jpg" alt="Demonstrating against Freeport" width="351" height="235" /></span><p class="wp-caption-text">Demonstrating against Freeport</p></div>
<p>It was great to  hear the New Zealand Super Fund announce this month that it had decided to  divest from seven companies involved in cluster munitions and the simulated  testing of nuclear explosive devices. Not a moment too soon, considering New  Zealand helped to pave the way for the treaty banning cluster munitions, which  is now finalised and open for signing.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">But there is a  long way to go before the fund can really be said to be honouring its ethical  investment policy undertaking as a guardian of New Zealand&#8217;s &#8220;reputation as a  responsible member of the world community&#8221;.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">For a start there  is further &#8220;nuclear housekeeping&#8221; to do, including sweeping out companies that  manufacture intercontinental ballistic missiles or supply nuclear weapons  facilities. Moreover, in these times, climate change is up there with nuclear  weapons as a threat to humanity&#8217;s continued existence. So any ethical investing  policy must take account of environmental impacts.<span id="more-41"></span></span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">But it is next to  impossible to reconcile the fund&#8217;s current investments with environmental  responsibility. Exxon Mobil tops the list of Super Fund holdings with an  investment of $61.8 million or 0.5 per cent of the fund&#8217;s holdings. The world&#8217;s  largest oil company has an unparalleled record for environmental crime from the  Exxon Valdez spill of 1989 to its financial backing for campaigns aimed at  undermining climate change action. Exxon Mobil stands out among energy companies  for what Greenpeace terms its &#8220;addiction&#8221; to oil and refusal to pay any  attention to renewable energy sources.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Closer to home,  the Super Fund invests nearly $1 million in Freeport McMoran Copper and Gold,  the company responsible for a grossly destructive mining operation in  Indonesian-ruled West Papua. The American mining giant operates one of the  world&#8217;s largest and most lucrative gold and copper mines in the midst of  pristine rainforest and glacier-capped mountains.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">You can check out  the scale of Freeport&#8217;s operation on Google Earth. The open-cut mine, not far  from the Carstensz Pyramid, Oceania&#8217;s highest mountain peak, spirals deep into  the earth.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Freeport deposits  the tailings from the processing of mineral rich ore as a silty sludge into the  Ajkwa River system at a rate of about 230,000 tonnes a day &#8211; the outpouring  settles out in a giant dead zone stretching across the lowlands to the coast.  The tailings also leach out into the Arafura Sea.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">This riverine  system of mine waste tailings disposal is now banned in most parts of the world  because the sediments containing heavy metals cause long-lasting ecological  devastation. The World Bank no longer finances such projects. In addition,  millions of tonnes of waste rock pile up in the high alpine valleys where they  leach out unstable metal sulphides and eyewitness evidence indicates that the  irreversible hazard of acid rock drainage is now occurring.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">For the tribal  Amungme and Kamoro people the mine has meant the destruction of their  traditional subsistence way of life based on hunter-gathering and fishing in the  forest and left them in poverty. The mine has decapitated a mountain considered  to be sacred and has brought in hordes of outsiders with the social costs that  go with the influx of migrant labour: prostitution, alcohol abuse, violence and  a soaring incidence of HIV/Aids.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">At the same time  Freeport delivers eye-watering earnings to its top executives and shareholders.  Chairman Jim Bob Moffet and chief executive Richard Adkerson last year each  pocketed more than $113 million in salary, bonuses and other forms of  compensation.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">In the late  1970s, Papuan resistance to the mine met with indiscriminate military bombing  and strafing operations. Since that time, human rights abuses in the mine area  include arbitrary detention, torture and killings as well as the displacement of  thousands of villagers.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The Indonesia  Human Rights Committee has urged divestment from Freeport for more than two  years. Former Finance Minister Michael Cullen told us that Freeport was under  review because its practices could breach ethical guidelines, but all investment  decisions were up to the fund&#8217;s board of guardians. The Super Fund&#8217;s head of  responsible investment, Anne-Maree O&#8217;Connor, freely admits concerns about  environmental practices at the mine. But, implausibly in our view, she expresses  hope that New Zealand may persuade Freeport to change its practices.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">To its credit,  the Super Fund lists all its equity holdings on its web page, unlike the other  Crown financial institutions (CFIs): the Earthquake Commission, the Accident  Compensation Corporation, the Public Trust, New Zealand Post, the National  Provident Fund and the Government Superannuation Fund Authority. Official  Information Act requests reveal that the Earthquake Commission and the  Government Superannuation Fund Authority each have over well over $3 million  invested in Freeport, while the Public Trust makes a much smaller contribution  to the full total of over $8 million.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The figure climbs  to a full investment total for all CFIs of nearly $56 million if Rio Tinto  investments are included.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">This year, a US  court decided to proceed with a trial against oil giant Exxon Mobil for its  alleged involvement in killings and torture committed by military forces and  paid for by the mining company in Indonesia&#8217;s Aceh. A similar lawsuit has been  lodged against Freeport by a Papuan tribal chief who claims that the mine  pollution is slowly poisoning his people.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Inevitably there  will be a day of reckoning for companies like Freeport and Exxon Mobil when  their crimes against communities and the environment will be exposed and  condemned. In the meantime,    institutions should weigh up the  real cost of their investments &#8211; our common future is at stake.</span></p>
<p><span style="font-family:Lucida Grande;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;"><strong>* Maire  Leadbeater is a member of the Indonesia Human Rights  Committee</strong></span></p>
<p></span></span></strong></p>
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		<title>Bouquet and Brickbat for the NZ Superfund</title>
		<link>http://investmentwatch.wordpress.com/2009/01/06/bouquet-and-brickbat-for-the-nz-superfund/</link>
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		<pubDate>Tue, 06 Jan 2009 20:20:04 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
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		<description><![CDATA[Friday, 19 December 2008, 2:35 pm Press Release: Investment Watch 19 December, 08: Media Release: Bouquet and Brickbat for the NZ Superfund over nuclear divestment moves: further divestment demanded to preserve New Zealand’s nuclear free reputation. Investment Watch Aotearoa (IWANZ) has written to the New Zealand Super Fund Board and Chief Executive to congratulate the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=39&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><span class="byline"><strong></p>
<div id="attachment_25" class="wp-caption alignleft" style="width: 138px"><strong><img class="size-thumbnail wp-image-25" title="picture-invertchange2" src="http://investmentwatch.files.wordpress.com/2008/07/picture-invertchange2.jpg?w=128&#038;h=94" alt="Superfund" width="128" height="94" /></strong><p class="wp-caption-text">Superfund</p></div>
<p>Friday, 19 December 2008, 2:35 pm</strong><br />
<strong>Press Release: Investment Watch</strong></span></p>
<p><!--first blockquote gone!--><br />
19 December, 08: Media Release:</p>
<p>Bouquet and Brickbat for the NZ Superfund over nuclear divestment moves: further divestment demanded to preserve New Zealand’s nuclear free reputation.<br />
Investment Watch Aotearoa (IWANZ) has written to the New Zealand Super Fund Board and Chief Executive to congratulate the Fund on its recent move to divest from companies involved with the production of cluster munitions and with simulated nuclear weapons testing.  IWANZ has also delivered a brickbat to the Fund for failing to divest from companies involved with nuclear weapon delivery systems and managing nuclear bases.</p>
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<p>It is great that New Zealand taxpayer funds will no longer go to such notorious companies as Lockheed Martin, Northrop Grumman and L-3 Communications all of which are in the top echelons of US weapons manufacturers. The Super Fund singled out Lockheed’s role in producing components for cluster munitions and in simulated nuclear testing, but Lockheed is also mired in nuclear missiles, fighter planes and spy satellites.</p>
<p>But it is a nonsense to try to separate out nuclear weapons from their delivery systems. Boeing, EADs, Safran, Finmeccanica, United Technologies and BAE have all been identified as being involved in the production of nuclear missiles or components for nuclear missiles. The Super Fund should also follow the lead of the ACC and divest from McDermott International which provides key support and nuclear components to the US nuclear weapons complex.</p>
<p>New Zealand’s role as a disarmament must not be compromised by these investments in death and destruction. The Super Fund must continue its divestment ‘housekeeping’ to exclude all nuclear investments.</p>
<p>PO Box 68-419,</p>
<p>Auckland. 1125</p>
<p>19 December, 2008</p>
<p>Adrian Orr,</p>
<p>Chief Executive Officer,</p>
<p>and David May, Chairman of the Board of Guardians,</p>
<p>New Zealand Superannuation Fund,                                                                                                           Level 12 Quay Tower, 29 Customs St, West,</p>
<p>Auckland</p>
<p>Dear David May and Adrian Orr,</p>
<p>Investment Watch would like to congratulate the Super Fund for the decision to exclude from the Fund’s investment portfolio companies associated with the manufacture of cluster munitions and the manufacture or testing of nuclear explosive devices.</p>
<p>We are very pleased to learn that New Zealand’s support for the Cluster Munitions Convention will no longer be compromised by investments in the companies that manufacture these despicable weapons.</p>
<p>We are also pleased to learn that the Super Fund will now divest from companies involved in the simulated testing of nuclear explosive devices.  We agree with your assessment that the simulated testing of nuclear explosive devices is critical to the development of nuclear weapons.  We believe that New Zealand should honour the intentions of the 1987 Nuclear Free Act by refusing to have any financial dealings with such companies.</p>
<p>However, we do not agree with the Super Fund’s decision to retain investments in companies which are involved with the delivery systems for nuclear weapons or with providing bases for nuclear weapons.</p>
<p>It is clear that the delivery systems for nuclear weapons are an intrinsic part of the nuclear infrastructure.  The military utility of nuclear weapons is dependent on the efficiency, reliability and accuracy of their delivery systems.  The Bulletin of the Atomic Scientists has set the hands of its ‘doomsday clock’ at 5 minutes to midnight.  This authoritative body states that the risk of nuclear catastrophe is not only because there are some 27,000 nuclear weapons in the world, but also because some 2000 nuclear weapons are set to be launched and delivered to a distant target within minutes.</p>
<p>The  New Zealand Nuclear Free Zone and Arms Control Act (1987) says it is unlawful for any New Zealander to ‘aid, abet, or procure any person to manufacture, acquire or possess or have control over any nuclear explosive device.’ Given that delivery systems are an integral part of nuclear weapons this prohibition is pertinent and any investment in these systems ought to be considered as a breach of the Act.</p>
<p>It may be true that the companies concerned are also involved in other ‘acceptable’ activities but this does not cancel out their role in contributing to the threat of nuclear annihilation.</p>
<p>We strongly urge the Super Fund to divest from McDermott International Inc.  As you will be aware, this one of the companies that the Accident Compensation Corporation has excluded on account of ‘involvement with the design, testing, assembly and or refurbishment of nuclear explosive devices.’  McDermott International supplies nuclear components and fuels to the US Government,  as well providing operating services to the nuclear weapons complex of the US Department of Energy.  (Super Fund investment: $7.9 million)</p>
<p>We also urge the Super Fund to divest from the following 6 companies which have been identified by the Ethics Council of the Norway Pension Fund as being involved in the production of nuclear missiles.</p>
<p>Boeing which is involved in maintaining ICBMs on behalf of the US airforce ($5.2 million)<br />
BAE – which produces  nuclear missiles for the  French air force through the company MBDA ($6.2 million  Super Fund investment)<br />
EADs which produces components of nuclear missiles ($0.35 million Super Fund investment)<br />
Finmeccanica  which produces  nuclear missiles for the  French air force through the company MBDA $4.8 million Super Fund investment)<br />
United Technologies  which produces engines for ICBMs in the US airforce ($3.4 million Super Fund investment)<br />
Safran SA which produces nuclear missiles for the French navy ($3.8 million Super Fund investment)</p>
<p>This list is not intended to be exclusive and we would also expect the Fund to divest from any other companies  similarly involved in nuclear weapons delivery systems or managing nuclear bases.</p>
<p>We appeal to the Super Fund to divest from these companies as an urgent priority.  The Super Fund has taken a step in the right direction with the latest divestments and should now take action to divest from all other companies which are involved with nuclear infrastructure.</p>
<p>New Zealand’s role as a leading advocate for nuclear disarmament and the peaceful resolution of disputes depends on maintaining its reputation for integrity and consistency in all its international dealings.  This includes the investments made in the Government’s name using the funds contributed by New Zealand taxpayers.</p>
<p>ends</p>
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		<title>Norwegian wealth fund sells stake in Rio Tinto</title>
		<link>http://investmentwatch.wordpress.com/2008/09/15/norwegian-wealth-fund-sells-stake-in-rio-tinto/</link>
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		<pubDate>Mon, 15 Sep 2008 08:35:35 +0000</pubDate>
		<dc:creator>omar123</dc:creator>
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		<description><![CDATA[The opencast Grasberg mine in West Papua, Indonesia, has been called one of the worst eyesores in the world David Robertson, Business Correspondent One of Rio Tinto&#8217;s largest shareholders has sold its £500 million stake in the company over concerns about the Grasberg goldmine, which has been called one of the world&#8217;s worst eyesores. The [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=36&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><span style="font-family:Verdana;font-size:large;"><span style="font-size:18px;"><strong><img class="alignleft" style="margin:30px;" src="http://mail.google.com/mail/?ui=2&amp;ik=c0e33fe757&amp;realattid=0.1.1&amp;attid=0.1&amp;disp=emb&amp;view=att&amp;th=11c500f8849423b9" alt="" width="385" height="185" /></p>
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<div style="background-color:#f0f0f0;"><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:small;line-height:normal;color:#666666;">The opencast Grasberg mine in West Papua, Indonesia, has been called one of the worst eyesores in the world</span></div>
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<div style="background-color:#f8f1d8;"><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:small;line-height:normal;color:#666666;">David Robertson, Business Correspondent</span></div>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">One of Rio Tinto&#8217;s largest shareholders has sold its £500 million stake in the company over concerns about the Grasberg goldmine, which has been called one of the world&#8217;s worst eyesores.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The $375 billion (£213 billion) Norwegian sovereign wealth fund said on Tuesday that it had sold its shares after failing to persuade Rio to improve operations at the West Papua mine.</span><span id="more-36"></span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The Norwegian Finance Minister publicly shamed Rio in a statement that accused the company of &#8220;severe environmental damage&#8221;.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The Grasberg operation in West Papua, Indonesia, is the world&#8217;s largest goldmine and the third-largest copper mine, but it is notorious among human rights and environmental campaigners.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Grasberg is operated by Freeport McMoRan, a New Orleans-based miner, and Rio is a 40 per cent shareholder in the opencast pit.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Human rights advocates assert that Freeport&#8217;s security guards and the Indonesian military have been responsible for the rape, torture, murder and arbitrary detention of people living near the mine. Freeport has consistently denied these claims.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The Australian Council on Overseas Aid reported that in 1994 and 1995 the Indonesian military, assisted by mine security, was responsible for the death or disappearance of 22 civilians and 15 others described by the Indonesian Government as guerrillas.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">After shareholder pressure, Free-port confirmed to the US Securities and Exchange Commission that it had paid the Indonesian military $4.7 million in 2001 and $5.6 million in 2002 for security services.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The environmental credentials of the Grasberg mine are also a source of controversy. The mine dumps 230,000 tonnes of tailings, or waste rock, into the Ajikwa River every day and campaigners claim that this has produced high levels of pollution.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Mine tailings are often laced with cyanide, which is used in the gold extraction process, and toxic quantities of metals such as lead, copper and zinc. A report by Friends of the Earth said that acid mine drainage, a common side-effect of opencast mining, had caused toxic levels of selenium and arsenic in the nearby river systems. It said that up to 70 per cent of aquatic life was suffering from chronic toxicity.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">A spokesman for Rio Tinto said: &#8220;We work closely with Freeport and are comfortable with the work they have done at Grasberg. The tailing management system is the right one to use and the environmental damage that has been alleged is not the case.&#8221;</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">However, this was not a view shared by the Norwegian Government Pension Fund, which manages wealth generated by the country&#8217;s North Sea oil.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Kristin Halvorsen, the Norwegian Finance Minister, said: &#8220;There are no indications to the effect that the company&#8217;s practices will be changed in future. The fund cannot hold ownership interests in such a company.&#8221;</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Rio Tinto responded by saying that it had been aware of the fund&#8217;s concerns but was surprised and disappointed by its decision to sell.</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">Owen Espley, a spokesman for Friends of the Earth, said: &#8220;It is excellent to see the Norwegians trying to use their influence to change behaviour and then walking away if that engagement is not successful.&#8221;</span></p>
<p><span style="font-family:Arial;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">The Grasberg mine contributed $159 million to Rio&#8217;s profits of $7.3 billion last year, but the operation is scheduled for a large expansion from this year. It is estimated that the mine, which is located in a World Heritage-listed national park, will cover 230 sq km (89 sq miles) when completed. Richard Solly, a campaigner with the London Mining Network, said: &#8220;In terms of environmental pollution, this mine is undoubtedly one of the worst in the world.&#8221;</span></p>
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<p><span style="font-style:normal;font-variant:normal;font-weight:normal;font-size:18px;line-height:normal;"><span style="font-size:medium;"><span style="font-size:14px;"><strong>Rio Tinto Considered to Be Damaging Indonesian Environment</strong></span></span></span><span style="font-family:Verdana;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;"><br />
Wednesday, 10 September, 2008 | 12:16 WIB</span></p>
<p><span style="font-family:Verdana;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;color:#666666;"><strong>TEMPO <em>Interactive</em></strong></span><span style="font-family:Verdana;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">, </span><span style="font-family:Verdana;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;color:#666666;"><strong>Oslo</strong></span><span style="font-family:Verdana;font-style:normal;font-variant:normal;font-weight:normal;font-size:medium;line-height:normal;">: Norwegian government agency, the Government Pension Fun-Global, black-listed Anglo-Australian mining company Rio Tinto yesterday (9/9) as they considered its project in Indonesia to be damaging the Indonesian environment.</p>
<p>Government Pension Fun-Global is one of the largest finance companies in the world with funds amounting to 1.99 trillion Norwegian Kroner or US$368 trillion as of June 2008.</p>
<p>It is reported that Government Pension Fun-Global has sold off all of its shares in Rio Tinto.</p>
<p>By end of 2007, its shares in Rio Tinto were worth 4.8 million Norwegian Kroner.</p>
<p>&#8220;The finance ministry decided to remove Rio Tinto from Government Pension Fund-Global as this company has carried out serious environmental damage,&#8221; said the Norwegian finance ministry.</p>
<p>&#8220;We do not see any intention from the company to repair what it has done,&#8221; it continued.</p>
<p>The Norwegian finance ministry&#8217;s decision is based on Rio Tinto, and also US mining company Freeport&#8211;which has also banned by Government Pension Fund-Global&#8211;dumping tailing waste in rivers around their work sites in Papua, Indonesia.</p>
<p>Rio Tinto spokesperson in London said that they were surprised and disappointed to hear the news.</p>
<p>&#8220;Rio Tinto has a good record in managing the environment. It is a role model for the industry in this regard.&#8221;</p>
<p>The Ethics Advisory Board at Government Pension Fund-Global said that it had sent notification to Rio Tinto in December 2007 but considered Rio Tinto&#8217;s response to be unsatisfactory.</span></p>
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		<title>Media Release: Divestment from Freeport Urged on CFIs</title>
		<link>http://investmentwatch.wordpress.com/2008/09/15/media-release-divestment-from-freeport-urged-on-cfis/</link>
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		<pubDate>Mon, 15 Sep 2008 08:27:14 +0000</pubDate>
		<dc:creator>omar123</dc:creator>
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		<description><![CDATA[12 September, 2008 The Indonesia Human Rights Committee has written to five of the Crown Financial Institutes (CFIs) and to the Minister of Finance calling on each of them to follow the example of the Norway Government Pension Fund and divest from Freeport McMoran Inc and Rio Tinto Corporation. Norway has taken this step after [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=33&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<div><strong><span style="font-size:x-small;font-family:Arial;"></p>
<div><span style="font-size:14pt;" lang="EN-NZ"><strong><span style="font-family:Times New Roman;"></span></strong></span><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">12  September, 2008</span></span></span><strong><span style="font-size:x-small;font-family:Arial;"></p>
<p style="text-align:center;" align="center"><span style="font-size:14pt;font-family:Tunga;"><strong> </strong></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">The  Indonesia Human Rights Committee has written to five of the Crown Financial  Institutes (CFIs) and to the Minister of Finance calling on each of them to  follow the example of the Norway Government Pension Fund and divest from  Freeport McMoran Inc and Rio Tinto Corporation.<span> </span>Norway has taken this step after an intense and  detailed assessment of the evidence of ‘severe environmental damage’ caused by  the operations of the open cast Freeport McMoran gold and copper mine in  West Papua.</span></span></span><span id="more-33"></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">The  Norwegian Government has just announced its decision to divest from the  Anglo-Australian Rio Tinto Corporation which is a 40% joint venture partner in  the operations of the controversial mine. This follows Norway’s June 2006 decision to divest from the  US company Freeport McMoran Inc. </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">‘We  applaud the Norwegian Government and its Ethical Council for their careful  assessment of the destructive environmental impacts of the mine on the alpine  and rainforest environment of West Papua,’ said  Maire Leadbeater speaking for the Indonesia Human Rights Committee.<span> </span>‘Norway is playing a leading role  internationally in promoting responsible investing and it is time New Zealand, a  much closer neighbour of West Papua, <span> </span>followed suit.’ </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Collectively the five CFIs have over $64 million  rnziinvested in Rio Tinto and Freeport McMoran. The breakdown is as follows:  <span> </span></span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Earthquake Commission $12,547,497.93, Public Trust  $691,000, Government Superannuation Fund Authority $6,955,617.55, ACC  $18,373,726.01 and New Zealand Superannuation Fund $25,446,653.00 according to  figures obtained under the Official Information Act and from the Equity  Portfolio of the NZ Super Fund. <span> </span></span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">‘Freeport McMoran is being referred to as the ‘world’s  worst eye-sore’.<span> </span>For the West  Papuan people the mine has also brought militarisation, grave human rights  abuses, and<span> </span>the loss of traditional  land,<span> </span>livelihood and spiritual  wellbeing. <span> </span>Most New Zealanders are  appalled when they learn that their tax dollars go to support this iniquity.’ </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Letter follows.</span></span></span></p>
<p style="text-align:center;" align="center"><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span><strong><span style="font-size:14pt;font-family:Tunga;">Indonesia</span><span style="font-size:14pt;font-family:Tunga;"> Human Rights Committee,</span></strong></p>
<p style="text-align:center;" align="center"><span style="font-size:14pt;font-family:Tunga;"><strong>Box  68-419,</strong></span></p>
<p style="text-align:center;" align="center"><strong><span style="font-size:14pt;font-family:Tunga;">Auckland</span></strong></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"> <span style="font-family:Times New Roman;">11  September, 2008.</span></span></span></p>
<div>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">The  Managers,</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Accident Compensation  Corporation,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">PO Box</span><span lang="EN-NZ"> 242</span><span lang="EN-NZ">,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Wellington</span><span lang="EN-NZ">.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Earthquake  Commission,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">PO Box</span><span lang="EN-NZ"> 790</span><span lang="EN-NZ">,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Wellington</span><span lang="EN-NZ">.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Public Trust,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">PO  Box</span><span lang="EN-NZ"> 5067</span><span lang="EN-NZ">,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Wellington</span><span lang="EN-NZ">.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Government Superannuation Fund  Authority,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">PO Box</span><span lang="EN-NZ"> 3390</span><span lang="EN-NZ">,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Wellington</span><span lang="EN-NZ">,  6015.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">New  Zealand</span><span lang="EN-NZ"> Superannuation  Fund,</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">PO  Box 106-607,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Auckland</span><span lang="EN-NZ">.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Hon  Dr M Cullen,</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Minister of Finance,</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Parliament Buildings,</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Wellington</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;font-family:Times New Roman;"> </span></span></div>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">Dear  Managers and Dr Cullen,</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">The  Indonesia Human Rights Committee calls on the following Crown Financial  Institutes: the Earthquake Commission, the Public Trust, the ACC, the Government  Superannuation Fund Authority and the New Zealand Superannuation Fund to divest  their shareholdings in both Freeport McMoran Inc and Rio Tinto  Corporation.</span></span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span lang="EN-NZ">Just  this week the Norwegian Government Pension Fund, one of Rio Tinto’s largest  shareholders, announced the sale of its US </span>$890 million holding in Rio  Tinto Corporation.<span> </span>The Norwegian  Government made this decision because it considers that Rio Tinto cannot evade  responsibility for the severe environmental damage at the Freeport McMoran mine  in West Papua, since it is a joint venture  partner in the enterprise.<span> </span>The  environmental damage is held to be irreversible and to have harmful impacts on  the ecology far away from the mine location. </span></span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;">T</span><span style="font-family:Times New Roman;">he Freeport McMoran gold and copper mine in the Timika  area of West Papua conducts a mining  operation<span> <span lang="EN-NZ">which has  caused unparalleled environmental destruction to a pristine alpine rainforest  environment. <span> </span>If operations continue  at the current rate its area will eventually cover 230 square kilometres and the  excavations will be twice as great as those undertaken to build the Panama Canal. <span> </span><span> </span>Each day the mine dumps 230,000 tonnes of  tailings or silty sludge into the local river  system.</span></span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"> <span style="font-family:Times New Roman;">It  should be noted that: </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">*  Freeport has not  made available any external environmental audit of its operations since 1994,  when the Overseas Private Investment Corporation cancelled the company’s  political risk insurance. </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">* The  riverine system of mine waste tailings disposal is now banned in most parts of  the world because the sediments containing heavy metals cause ecological  devastation. The World Bank will no longer fund mining projects that use this  system of disposal. </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;"><span> </span>* Millions of tonnes of waste rock are  piled up in the high alpine valleys and leaching unstable metal sulphides or  Acid Rock Drainage. </span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">* The  mine has led to the displacement of thousands of indigenous Papuans and  destroyed their traditional subsistence forest-based way of life based on  fishing and hunting. <span> </span>In the local  regency more than half the people live below the poverty line, lacking access to  health care, adequate food and clothing.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">* The  mine has created a boom town complete with the social costs of a rapid influx of  migrant labour: <span> </span>prostitution,  alcohol abuse, violence and a soaring incidence of  HIV/AIDs.</span></span></span></p>
<p><span lang="EN-NZ"><span style="font-size:small;"><span style="font-family:Times New Roman;">*  Freeport  continues to pay the Indonesian military to provide security for the mine,  despite the fact that the military has been responsible for grave human rights  abuses in the mine area, including torture, illegal detentions, disappearances  and extrajudicial killings.</span></span></span></p>
<p><span style="font-size:small;font-family:Times New Roman;">*The respected Indonesian environmental organisation WALHI (Friends of  the Earth) states that the toxic tailings waste has all but destroyed freshwater  aquatic life.<span> </span>This ecological  destruction now extends out into the mangroves of the Ajkwa estuary and a plume  of dissolved copper from Freeport&#8217;s tailings extends 5 to 10 km  offshore. The pollution also threatens the World Heritage listed Lorenz National Park considered to be a  conservation jewel. </span></p>
<p><span style="font-size:small;font-family:Times New Roman;">We believe that investing in Freeport McMoran or Rio Tinto should be  considered as a breach of the Crown Financial Institution (CFI) mandate to  ‘avoid prejudice to New  Zealand’s reputation as a responsible member of  the world community’.<span> </span>More  importantly these investments make New Zealand complicit in one of the  most environmentally destructive and socially devastating enterprises in the  world. This is at odds with all ethical investing principles. </span></p>
<p><span style="font-size:small;font-family:Times New Roman;"> </span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;">We therefore urge the CFIs to follow the example of  Norwegian Government Pension Fund and divest all shareholding in Rio Tinto  Corporation UK, Rio Tinto Corporation Australia and Freeport McMoran Copper  and Gold Inc. <span> </span></span></span></p>
<p><span style="font-size:small;font-family:Times New Roman;"> Yours sincerely,</span></p>
<p><span style="font-size:small;font-family:Times New Roman;"> Maire Leadbeater</span></p>
<p><span style="font-size:small;"><span style="font-family:Times New Roman;"><span> </span>For the  Indonesia Human Rights  Committee</span></span></p>
<p></span></strong></div>
<p></span></strong></div>
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		<title>Report from Demo Against Superfund Investments in Freeport</title>
		<link>http://investmentwatch.wordpress.com/2008/08/18/report-from-demo-against-superfund-investments-in-freeport/</link>
		<comments>http://investmentwatch.wordpress.com/2008/08/18/report-from-demo-against-superfund-investments-in-freeport/#comments</comments>
		<pubDate>Mon, 18 Aug 2008 12:20:16 +0000</pubDate>
		<dc:creator>omar123</dc:creator>
				<category><![CDATA[Action]]></category>
		<category><![CDATA[Superfund]]></category>

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		<description><![CDATA[04 Aug 2008 On Friday August 1st, picketers gathered outside the NZ Superfund office in Downtown Auckland to protest against the fund investing taxpayer money in the US mining company Freeport McMoRan. Since 1967 Freeport has been mining copper and gold in, Indonesian Military occupied, West Papua. Every day Freeport&#8217;s Grasberg mine dumps 700,000 tonnes [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=30&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><a href="http://indymedia.org.nz/usermedia/image/7/large/6_crowd.jpg"><img class="alignleft" style="margin:20px;" src="http://indymedia.org.nz/usermedia/image/7/6_crowd.jpg" alt="crowd.jpg" width="357" height="238" /></a><strong>04 Aug 2008 </strong></p>
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<p>On Friday August 1st, picketers gathered outside the NZ Superfund office in Downtown Auckland to protest against the fund investing taxpayer money in the US mining company <a href="http://www.fcx.com/">Freeport McMoRan</a>. Since 1967 Freeport has been mining copper and gold in, Indonesian Military occupied, West Papua. Every day Freeport&#8217;s Grasberg mine dumps 700,000 tonnes of mining waste into Papua&#8217;s rivers. The pollution is so bad it can be seen from NASA satellite images <a href="http://www.tewahanui.info/news/190806_wpFreeport.shtml">from space</a>.</p>
<p>Since it began mining in Papua, Freeport has paid the Indonesian Military to provide security from angry locals. The Indonesian Military is estimated to have killed as many as 100,000 West Papuans since invading in 1963. West Papuans living near the mine have suffered massive human rights abuses.<span id="more-30"></span></div>
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<p>In the late 1970s, after a group of Papuans cut Freeport&#8217;s copper pipeline the Indonesian Military launched &#8216;Operation Annihilation&#8217;. Troops went from village to village shooting men, women and children and villages were bombarded by the airforce with &#8216;daisy cutter&#8217; bombs. 3000 civilians were killed. Killings and arrests of civilians continue today. In 2006 many Papuan students were imprisoned and tortured for protesting against Freeport.</p></div>
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<p>The NZ Superfund has investments totaling $1,600,548 in Freeport McMoran. Plus an investment of $23,846,105 in the Rio Tinto Group ($9,780,671 in Rio Tinto Plc, Britain, and $14,065,434 in Rio Tinto Ltd, Australia) &#8211; Rio Tinto has a 40 per cent joint venture interest in the Freeport McMoRan mine.</p></div>
<p class="body"><strong>From: http://indymedia.org.nz/newswire/display/75828/index.php</strong></p>
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		<title>Action against Superfund Investment in Freeport McMoran</title>
		<link>http://investmentwatch.wordpress.com/2008/07/21/freeportaction/</link>
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		<pubDate>Mon, 21 Jul 2008 23:39:09 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
				<category><![CDATA[Action]]></category>
		<category><![CDATA[Superfund]]></category>

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		<description><![CDATA[Everyday ordinary West Papuans stare ecocide and genocide in the face with nothing more than their commitment to freedom. Surely we can back them up with a little commitment of our own. Join the picket of the Superfund office on August 1 and tell the Superfund that our future and the future of the Papuan [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=24&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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<p><strong><em>Everyday ordinary West Papuans stare ecocide and genocide in the face with nothing more than their commitment to freedom. Surely we can back them up with a little commitment of our own.</em></strong></p>
<p><strong>Join the picket of the Superfund office on August 1 and tell the Superfund that our future and the future of the Papuan people is not in Freeport.</strong></div>
<div>
<dl class="wp-caption alignleft">
<dt class="wp-caption-dt"><img src="http://indymedia.org.nz/usermedia/image/7/large/picture_invertchange2.jpg" alt="West Papua" width="246" height="180" /></dt>
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<p><strong>Where: </strong>NZ Superannuation Fund office, outside the AMP building, on the corner of Custom Street West and Albert Street, Auckland CBD.</p>
<p><strong>When:</strong> Friday 1 August at 4.30pm -5.30pm</p>
<p><strong>Organised by: </strong><a href="../" target="_blank">Investment Watch Aotearoa New Zealand | investmentwatch.wordpress.com | nowarp@xtra.co.nz</a></p>
<p><span id="more-24"></span></div>
<p><strong><br />
</strong><span style="font-size:medium;"><strong>Action against Superfund Investment in Freeport McMoran</strong></span></p>
<p>After growing public and political pressure the NZ Superfund has confirmed that it will divest from corporations involved in the production of cluster munitions and is currently reviewing its investments in corporations with ties to the production and maintenance of nuclear weapons. So the campaign for ethical pension fund investment has now turned its attention to a corporation that for many is synonymous with the most ruthless, bloodthirsty form of colonialism and the most repugnant destruction of rainforest, river and ocean currently happening in the South Pacific.</p>
<p><em>They have been killed, raped and tortured. Life is hard for them. All we are asking for is the freedoms that you enjoy every day &#8211; the freedom to speak your mind, to live without fear and to choose your own government.&#8221; </em><strong> Benny Wenda</strong>, West Papuan independence leader</p>
<p>For the past forty-five years, the people of West Papua have been subjected to cultural genocide and gross human rights violations including rape, torture, murder and massacre inflicted by the Indonesian armed forces. Since 1963 more than 100,000 West Papuans have been killed; around 15,000 West Papuans are currently living in camps in Papua New Guinea; and others are forced to live in exile around the world because it is not safe for them to go home. The Indonesian government&#8217;s transmigration programme has resulted in around one million non-Papuan transmigrants being moved into West Papua.</p>
<p>Multi-national corporations in cahoots with the Indonesian authorities have exploited West Papua&#8217;s natural resources to an extraordinary degree. This has caused massive social dislocation, devastation of rainforests, and pollution of streams and rivers on which the local people depend for their survival. These rainforests contain up to 7% of all the world&#8217;s biodiversity.</p>
<p>Papuan people&#8217;s resistance is a last bastion of defence against the Indonesian military and the American corporation that runs the Freeport McMoran mine, the world&#8217;s largest copper and gold mine. Freeport &#8220;has an unparalleled record of human rights and environmental abuse&#8221; in relation to that mine &#8211; it has created a 230 square kilometre barren wasteland of dumped mine tailings, and the destruction of the local environment is visible from space. The impact of the mine is particularly devastating for the indigenous Amungme and Kamoro people who have lost the traditional lands and aquatic resources that they rely on for survival, as well as being forcibly displaced from their homes and villages.</p>
<p>West Papuans living near the mine have suffered massive human rights abuses at the hands of the Indonesian Military.  In the late 1970s, after a group of Papuans cut Freeport&#8217;s copper pipeline the Indonesian Military launched &#8216;Operation Annihilation&#8217;.  Troops went from village to village shooting men, women and children and villages were bombarded by the airforce with cluster bombs.  3000 civilians were killed.  Killings and arrests of civilians continue today.  In 2006 many Papuan students were imprisoned and tortured for protesting against Freeport.</p>
<p>In 2005, the New York Times revealed that from 1998 through to 2004, Freeport gave Indonesian &#8220;military and police generals, colonels, majors and captains, and military units, nearly $20 million (US). Individual commanders received tens of thousands of dollars, in one case up to $150,000, according to the documents.&#8221; That included payments to the Mobile Brigade which has been associated with &#8220;numerous serious human rights violations, including extrajudicial killings, torture, rape, and arbitrary detention&#8221;.</p>
<p>Even after significant pressure from peace and solidarity groups in Aotearoa/New Zealand, the New Zealand Superannuation Fund, a Government-run pension set up to pay for our retirement, has <strong>investments totaling $1,600,548 in Freeport McMoran. </strong> Plus an investment of $23,846,105 in the Rio Tinto Group ($9,780,671 in Rio Tinto Plc, Britain, and $14,065,434 in Rio Tinto Ltd, Australia) &#8211; Rio Tinto has a 40 per cent joint venture interest in the Freeport McMoRan mine.</p>
<p><strong>Everyday ordinary West Papuans stare ecocide and genocide in the face with nothing more than their commitment to freedom. Surely we can back them up with a little commitment of our own.</strong></p>
<p><strong>Join the picket of the Superfund office on August 1 and tell the Superfund that our future and the future of the Papuan people is not in Freeport.</strong></p>
<p><strong>Where: </strong>NZ Superannuation Fund office, outside the AMP building, on the corner of Custom Street West and Albert Street, Auckland CBD.<br />
<strong>When:</strong> Friday 1 August at 4.30pm -5.30pm<br />
<strong>Organised by: </strong><a href="../" target="_blank">Investment Watch Aotearoa New Zealand | investmentwatch.wordpress.com |</a> nowarp(nospam)xtra.co.nz</p>
<p><strong>More Information</strong></p>
<p><strong>- Superfund investments</strong></p>
<p><strong></strong><a href="http://www.converge.org.nz/pma/nwapr08.pdf" target="_blank">Act now! NZ Superannuation Fund investments in death and destruction</a>,<br />
<strong><br />
</strong><a href="http://www.converge.org.nz/pma/superfund.pdf" target="_blank">Investing in whose future? NZ Super Fund invests in cluster munitions, nuclear weapons and human rights violations</a></p>
<p><strong>- West Papua and Freeport</strong></p>
<p><a href="http://www.converge.org.nz/pma/wpapua.pdf" target="_blank">West Papua: the forgotten Pacific country</a> &#8211; Peace Movement Aotearoa primer leaflet on West Papua (PDF)</p>
<p><a href="http://www.nytimes.com/2005/12/27/international/asia/27gold.html?pagewanted=1&amp;_r=1" target="_blank">Below a Mountain of Wealth, a River of Waste </a>- December 2005, New York Times article on the Freeport McMoran mine</p>
<p><a href="http://www.converge.org.nz/pma/wp011206a.htm" target="_blank">IHRC letter to the Superfund about Freeport</a> &#8211; Auckland based West Papua solidarity group asks for divestment<br />
<a href="http://www.eco-action.org/ssp/corp.html#Freeport-McMoran" target="_blank">Summary of Freeport and Papuas history</a> &#8211; Solidarity South Pacific resource on the long and terrible legacy of the mine</p>
<p><a href="http://www.justfocus.org.nz/articles/2007/05/18/eco-prisoners-from-the-us-to-the-pacific/" target="_blank">Summary of 2006 Papuan student protests</a> &#8211; Thousands demand closure of Freeport and the Indonesian military violently represses the movement</p>
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		<title>International Women&#8217;s Day for Disarmament 2008: Protests, petition and information</title>
		<link>http://investmentwatch.wordpress.com/2008/05/16/international-womens-day-for-disarmament-2008-protests-petition-and-information/</link>
		<comments>http://investmentwatch.wordpress.com/2008/05/16/international-womens-day-for-disarmament-2008-protests-petition-and-information/#comments</comments>
		<pubDate>Fri, 16 May 2008 07:19:32 +0000</pubDate>
		<dc:creator>investmentwatch</dc:creator>
				<category><![CDATA[Action]]></category>
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		<description><![CDATA[Since 1982, International Women&#8217;s Day for Disarmament has been marked on 24 May by women around the world calling for the peaceful resolution of conflict, and an end to the horror and devastation of armed conflict; the destruction of the physical environment by peacetime military training and weapons testing; the diversion of financial, human and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=investmentwatch.wordpress.com&amp;blog=1612578&amp;post=20&amp;subd=investmentwatch&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><span style="font-size:small;">Since 1982, International Women&#8217;s Day for Disarmament has been marked on 24 May by women around the world calling for the peaceful resolution of conflict, and an end to the horror and devastation of armed conflict; the destruction of the physical environment by peacetime military training and weapons testing; the diversion of financial, human and other resources into military institutions; and to government support for corporations that profit from death and destruction. This year in Aotearoa New Zealand, the Women&#8217;s International League for Peace and Freedom (WILPF) is focusing on the NZ Superannuation Fund (Super Fund) investments in nuclear weapons and cluster munitions producing companies.</p>
<p>There are three sections below: 1) details of the simultaneous protests at the Super Fund offices in Auckland and Wellington on Friday, 23 May; 2) the &#8216;End government support for military exports&#8217; petition which has just been re-launched for International Women&#8217;s Day for Disarmament; and 3) some links to where you can get more information about the Super Fund investments, and about women and disarmament. This message will be available online at <a href="http://www.converge.org.nz/pma/iwdd08.htm" target="_blank"> http://www.converge.org.nz/pma/iwdd08.htm</a> later today.</span></p>
<p><span id="more-20"></span></p>
<p><strong>1) Protest the Super Fund investments in nuclear weapons and cluster munitions production</p>
<p></strong>The Super Fund has a responsible investment policy &#8220;which aims to enhance shareholder value and protect the reputation of the Fund through encouraging high standards of corporate behaviour. Despite this, the Fund invests in a range of companies involved in producing offensive weapons systems, such as nuclear weapons and cluster munitions, including many that overseas pension funds and banks refuse to invest in.</p>
<p>Even though the NZ Nuclear Free Zone, Disarmament, and Arms Control Act, 1987, states it is an offence for anyone to aid or abet &#8220;any person to manufacture, acquire, possess, or have control over any nuclear explosive device&#8221; within or beyond the NZ Nuclear Free Zone, the Fund has investments in companies involved in nuclear weapons production and deployment such as Lockheed Martin $21,850,772*, Northrop Grumman Corp. $22,490,337, Honeywell International $13,914,219, BAE Systems Plc $6,154,252, and EADS Co &#8211; $2,660,672 (*Fund investment at 30 June 2007, the most recent figures available).</p>
<p>While the Fund has announced it intends to divest from companies involved in cluster munitions production, there are concerns about how and when this will be done &#8211; these companies include Lockheed Martin as above, Raytheon Co. $2,294,974, Poongsan Corp. $1,582,636, Thales S.A. $657,428, and Hanwha Corp. $139,445. International Women&#8217;s Day for Disarmament this year falls right in the middle of the Diplomatic Conference on Cluster Munitions, where the text of the international convention banning cluster munitions will be negotiated and most likely adopted &#8211; the Conference will be held from 19 to 30 May in Dublin, Ireland.</p>
<p><strong>- Join the protest in Auckland about these investments:</strong> Friday, 23 May, from 4.30pm to 5.30pm, outside the AMP building, on the corner of Custom Street West and Albert Street; for more information, contact email <a href="mailto:joanmac@pl.net" target="_blank">joanmac@pl.net</a></p>
<p><strong>- Join the protest in Wellington about these investments</strong>: Friday, 23 May, 4.30pm to 5.30pm, at the traffic lights at the intersection of Queen&#8217;s Wharf, Jervois Quay and Grey Street; for more information contact email <a href="mailto:wilpf@xtra.co.nz" target="_blank">wilpf@xtra.co.nz</a></p>
<p><strong>2) No WARP! petition: End government support for military exports</p>
<p></strong>Following a more favourable than expected response from the Foreign Affairs, Defence and Trade Select Committee last year, the No WARP! petition has just been re-launched in time for International Women&#8217;s Day for Disarmament. The text begins: &#8220;To the House of Representatives: Every day, on average, global military expenditure is more than (US) $3.2 billion, while close to 29,000 children under the age of five die from mainly preventable causes; including lack of access to clean water, food and basic health care. To provide clean water for 2.6 billion people and save an estimated 4,000 lives each day would cost just (US) $7 billion &#8211; less than two and a half days of global military expenditure. We, the undersigned, are appalled that the New Zealand government contributes to this deplorable situation by funding and promoting companies involved in military and weapons related production and export.&#8221; &#8211; the full text, and printable petition form, is available at <a href="http://www.converge.org.nz/pma/nowarpet.pdf" target="_blank"> http://www.converge.org.nz/pma/nowarpet.pdf</a> If you have any difficulty opening or printing the petition form, please contact email <a href="mailto:nowarp@xtra.co.nz" target="_blank">nowarp@xtra.co.nz</a> and we will post copies to you.</p>
<p><strong>3) Where you can get more information</strong></p>
<p>* About the Super Fund investments</p>
<p>&#8216;Act now! NZ Superannuation Fund investments in death and destruction&#8217;, No WARP! (Network Opposed to Weapons and Related Production), April 2008 &#8211; <a href="http://www.converge.org.nz/pma/nwapr08.pdf" target="_blank"> http://www.converge.org.nz/pma/nwapr08.pdf</a></p>
<p>&#8216;Investing in whose future? NZ Super Fund invests in cluster munitions, nuclear weapons and human rights violations&#8217;, No WARP! leaflet, April 2008 &#8211; <a href="http://www.converge.org.nz/pma/superfund.pdf" target="_blank"> http://www.converge.org.nz/pma/superfund.pdf</a> &#8211; if you would like printed copies of this leaflet, please email <a href="mailto:nowarp@xtra.co.nz" target="_blank">nowarp@xtra.co.nz</a> and let us know your postal address and how many copies you would like</p>
<p>Aotearoa New Zealand Cluster Munition Coalition &#8211; <a href="http://www.stopclusterbombs.org.nz/" target="_blank"> http://www.stopclusterbombs.org.nz</p>
<p></a>Photos from the Super Fund protests on 18 April 2008: Auckland, organised (and photos) by Investment Watch Aotearoa New Zealand -<br />
<a href="../2008/04/22/photosreport-friday-action-at-auckland-super-fund" target="_blank"> http://investmentwatch.wordpress.com/2008/04/22/photosreport-friday-action-at-auckland-super-fund</a> Wellington: organised by WILPF and Peace Movement Aotearoa, photos by Mary Wareham, Oxfam NZ &#8211; <a href="http://www.flickr.com/photos/anzclusters/sets/72157604598845332" target="_blank"> http://www.flickr.com/photos/anzclusters/sets/72157604598845332</p>
<p></a>* Resources from International WILPF</p>
<p>&#8216;Women and cluster munitions&#8217; &#8211; <a href="http://www.wilpf.int.ch/PDF/DisarmamentPDF/ClusterMunitions/WILPF-Women-and-Cluster-Munitions.pdf" target="_blank"> http://www.wilpf.int.ch/PDF/DisarmamentPDF/ClusterMunitions/WILPF-Women-and-Cluster-Munitions.pdf</a></p>
<p>&#8216;Ensuring Women and Gender are reflected in the Cluster Munitions Treaty&#8217; &#8211; <a href="http://www.wilpf.int.ch/statements/090508cluster_munitions.html" target="_blank"> http://www.wilpf.int.ch/statements/090508cluster_munitions.html</p>
<p></a>&#8216;You get what you pay for! Disarming for gender equality&#8217; &#8211; <a href="http://www.wilpf.int.ch/PDF/EconomicJustice/YouGetWhatYouPayFor.pdf" target="_blank"> http://www.wilpf.int.ch/PDF/EconomicJustice/YouGetWhatYouPayFor.pdf</p>
<p></a>Women and disarmament index page &#8211; <a href="http://www.wilpf.int.ch/disarmament/index.html" target="_blank"> http://www.wilpf.int.ch/disarmament/index.html</p>
<p></a>PeaceWomen &#8211; <a href="http://www.peacewomen.org/wpsindex.html" target="_blank"> http://www.peacewomen.org/wpsindex.html</p>
<p></a>Reaching Critical Will &#8211; <a href="http://www.reachingcriticalwill.org/" target="_blank"> http://www.reachingcriticalwill.org<br />
</a></p>
<p><span style="font-size:small;">&lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt;<br />
Peace Movement Aotearoa (PMA)<br />
the national networking peace organisation<br />
PO Box 9314, Wellington 6141, Aotearoa New Zealand<br />
Tel +64 4 382 8129, fax 382 8173 email <a href="mailto:pma@xtra.co.nz" target="_blank">pma@xtra.co.nz</a><br />
PMA website -</p>
<p></span><a href="http://www.converge.org.nz/pma" target="_blank"> <span style="color:#0000ff;font-size:small;"><span style="text-decoration:underline;">http://www.converge.org.nz/pma</span></span></a> <span style="font-size:small;"><br />
Not in Our Name &#8211; </span> <a href="http://www.converge.org.nz/pma/nionnz.htm" target="_blank"> <span style="color:#0000ff;font-size:small;"><span style="text-decoration:underline;"> http://www.converge.org.nz/pma/nionnz.htm</span></span></a><span style="font-size:small;"><br />
&lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt;<br />
&gt;&gt; war on terrorism? war is terrorism &lt;&lt;<br />
&lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt; &lt;&gt;</span></p>
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