New Zealand’s $86 billion Super Fund has been ordered to review its investment policies after the High Court found its approach to human rights considerations was unlawful and inconsistent.
Justice Simon Mount ruled that the Guardians of New Zealand Superannuation failed to apply clear, coherent standards when deciding whether to exclude companies linked to alleged human rights abuses, particularly in relation to firms operating in Israeli settlements.
The case, brought by the Palestine Solidarity Network Aotearoa, highlighted gaps in the fund’s ethical investment framework after earlier references to global human rights standards were removed from policy documents.
The court found the fund’s decision-making lacked consistency and did not meet legal requirements, directing it to revise its policies. Campaigners welcomed the decision and expect further divestments, while the Guardians said they are reviewing the ruling and considering their next steps.
