July 22 2018
OPINION: Around the world investors agree that ethical or values-based investing can make financial as well as moral sense, but there is no agreement on making those ethical judgements.
Last September the NZ Super Fund added recreational cannabis to its excluded investments list.
Growing marijuana is big business and now legal in eight US states, with central Denver alone dedicating 400,000 square metres of industrial buildings.
The NZ Super Fund's decision is based on the intent behind New Zealand's international treaties, current law and government policy. Many investors will agree with the Super Fund and many will not – there's no right answer.