Human Rights, Environment Obligations, and Ethical Investment: Aotearoa New Zealand is Going Down the Wrong Path
Dr Robert Howell
1 Introduction and Summary
A considerable portion of the world’s investments are unethical in that they have inadequate regard for the welfare of people and/or the planet. They invest in companies that abuse workers’ or other stakeholders rights. Their activities destroy our environment. Very few companies are fully fossil-free, or operate within ecological boundaries. One of the reasons for this is that the term ethical investing is defined by such unvalidated concepts as ESG, or responsible.
Should the Reserve Bank target unemployment as well as inflation? Will the new government abolish the dual mandate?
Back in 1989 – near the end of the fourth Labour government – the inflation-busting Reserve Bank Act was passed. Labour has shifted well away from the Rogernomics of that decade, and in 2021 Grant Robertson added maximum sustainable employment to the bank’s mandate - with the support of coalition partner NZ First.
Our Reserve Bank joined a powerful grouping of central banks that have dual targets, including the US Federal Reserve, the Reserve Bank of Australia, the Bank of Canada, the Bank of England and the European Central Bank.
Going into the 2023 election, National and Act committed to a return to the 1989 objective. Will they take us out of the mainstream and into a straitjacket rather than a life-jacket? And how does it square with their stated aim of getting people off the dole and back to work?
The next three years – the job ahead for Labour, Greens and Te Pāti Māori
The Fabians had a session on Nov 14th reflecting on the elections. Our panel of Simon Wilson, Senior Writer at NZ Herald, Bridie Witton, Stuff Press Gallery Reporter and Ollie Neas, freelance writer used the election results as a springboard to target some of the key issues for Labour, the Greens and Te Pāti Māori as they head into opposition.
Thank you for the opportunity to discuss the Pae Ora health reforms with you.
Since I was sacked by the Health Minister I have taken time to reflect on the experience and to make a considered assessment of what I learned in the process. My intention tonight is to share that with you, making the assumption that we share common ground in wanting to have an effective, efficient, excellent and equitable public health service.
If anyone does not want that, I don’t really have anything useful to share with you.
Remember that Saturday March 7th is the National Day of Action on the TPPA. Marchs and other events are planned throughout the country. More information here.
Don't worry about the weather, get out there! Once NZ's sovereignty is gone, it won't come back.
On Tuesday 16th April in Wellington Dr Geoff Bertram presented a very interesting paper on "Asset Values and Regulation." He argues that during the last decade "excess monopoly profits grabbed by deregulated electricity networks, gas pipeline owners, airports, and ports were crystallised as revaluations of their fixed assets."
He explains his conclusion in some detail, including the various models used to establish asset value in the corporatisation and sale of the assets led to capture of excess profits. Discussing regulation of natural monopoly providing an essential service, he argues the regulator's first task is to set a value for the Regulatory Asset Base, on which prices can be set. He discusses the options and the history, and the implications for consumer prices. He demonstrates the sharp rise in gentailer asset value and concludes that as of 2012 the revaluations totalled over $10 billion, which is not justified by competitive edge or special advantages, but is entirely due to the ability to capitalise excess profits secured from price-gouging, mainly of residential but also small industrial and commercial customers.
Two other presentations from Dr Bertram cover some of the same issues and can be found under his name in the resources section of the website.
An earlier presentation by Peter Harris, Dick Werry and Jim Turner examined the difference in costs over a ten-year period between the water and electricity networks in the Wellington region. The water network remained in public hands and the electricity network was privatised. The costs of the water network rose 17% over the ten years 1999-2010; the costs of the electricity network rose 295%! The authors conclude the electricity rise was largely to service the grossly inflated capital value.
These presentations are all available in the Resources section of the website.
What they won't tell us and why we should be worried about the Trans-Pacific Partnership.
On December 3rd, two of the world's foremost critical voices on international free trade and investment agreements — Lori Wallach and Jane Kelsey — will deliver presentations and take questions on the Trans-Pacific Partnership Agreement (TPPA), a treaty being negotiated between the United States, New Zealand, and 9 other countries on the Asia-Pacific rim.
The TPPA is one the biggest political issues facing New Zealand, but one of the least publicised and least understood.
It involves eleven Asian and Pacific-rim countries — including the United States — and it being negotiated in secret with no possibility of public oversight. If it goes ahead, we risk major damage to our economy, our environment, our health, and the ability to shape our own future.
Fabian Society Spark Sessions Labour Party Conference 2012 Saturday 17th November Ellerslie Event Centre Session 1 - 8:00am – 8:50am Session 2 - 12:50pm-13:35pm
So you want to change your world...
The presenters will give you a first-hand insight into the state of the real economy, manufacturing and jobs right now in New Zealand. They will discuss policy choices that will lead to a robust and resilient real economy, that might build our road into the future for everyone.
This session is a must see for anyone interested in a sovereign and sustainable economy and how we might create a growing export sector, that will require well-paid jobs and provide a reason for our children and our grandchildren to stay in New Zealand.
Presenters:
John Walley, CEO New Zealand Manufacturers and Exporters Association, manufacturer, exporter, importer, property owner, company director and shareholder.
Selwyn Pellett CEO Imarda, manufacturer, exporter, importer, shareholder, property owner, and company director.
The Labour Party will formally acknowledge the work of Sir Owen Woodhouse at a presentation at the Kirk Legacy Seminar to be held at Auckland Girls Grammar School on Saturday, November 3rd, announced Paul Chalmers, Labour Party Regional Reresentative.
At 96 years old, Sir Owen will be speaking at the event (having driven himself there!) and will be presented with a token of appreciation by the Leader of the Party, David Shearer and ACC spokesperson, Andrew Little.
"We are honoured to have Sir Owen at the Kirk Legacy Seminar. "Norm Kirk ensured that when the scheme started under his government, it was true to Sir Owen's original proposal". said Andrew Little. "This a moment in time when we can reflect on the on both the contribution of both Kirk Government and one of its finest ahievements, ACC."
Sir Owen's second report recommended that New Zealand should end the disparities between the treatment of accident victims and those incapacitated by sickness or disease.
The Kirk Legacy Seminar is being held to commemorate the achievements of the Kirk Government of 1972 - 1975. Speakers include Bob Harvey and Hamish Keith, biographers Margaret Hayward and Dave Grant, commentator Colin James, Green MP Kennedy Graham, Labour MPs Jacinda Ardern and Nanaia Mahuta, Historian Gerard Hill, and Rev Bob Scott and lecturer Mike Law, Panelists Bob Tizard, Judy McGregor and Chris Trotter.