Bank of New Zealand selects FTSE Russell ESG index

Bank of New Zealand (BNZ) has licenced a custom index based on the FTSE Global Choice Index Series from global index provider FTSE Russell.

Launched last year, the index used a transparent, rules-based framework to apply values-based exclusions to broad FTSE Russell indexes, which applied screens to filter companies based on Environmental, social and governance (ESG) impact.

The custom index licenced by BNZ used a screening methodology to exclude companies involved in manufacturing weapons banned under international treaties, including cluster munitions and land mines, and tobacco firms.

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Peter Forster, BNZ welath general manager, said: “A huge focus for the BNZ Wealth team in the past year has been refreshing our Managed Investment Scheme offerings, including the BNZ KiwiSaver Scheme.”

“We know how important investing responsibly is for our customers, so we have built a KiwiSaver scheme with that in mind.”

Tony Campos, ESG product management at FTSE Russell, said: “Our FTSE Global Choice Index Series helps meet the growing demand for integrating ESG preferences into investments and draws on our extensive experience in designing indexes that account for social and environmental impacts.”

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