12 Sep 2008

NGO calls on New Zealand government agencies to follow Norway's lead over Rio Tinto

2:33 pm on 12 September 2008

The New Zealand based Indonesia Human Rights Committee has called on New Zealand Government agencies to follow the example of the Norway Government Pension Fund and cut links to Freeport McMoran and Rio Tinto.

Norway announced it would sell off its investment over concerns about the environmental damage caused by the operations of the open cast Freeport McMoran gold and copper mine in Indonesia's Papua region.

Rio Tinto owns 40 percent of Freeport.

A spokesperson for the Committee, Maire Leadbetter, says Norway is playing a leading role in promoting responsible investing and it is time New Zealand followed suit.

New Zealand agencies with multi million dollar investments in Rio Tinto and Freeport McMorran include the Earthquake Commission, ACC and the New Zealand Superannuation Fund.