The ACC is ditching its own ethical standards. It is forming a joint venture with Serco, despite having the British-based company on its list of banned investments.  

Serco has a 1/3 share in a joint venture that manages the UK’s Atomic Weapons Establishment. Which means Serco helps maintain and manufacture nuclear warheads for the British government. The ACC even has an explicit policy not to invest in companies with nuclear arms ties -- it just decided to ditch its ethics in the name of profits.

The ACC is a Crown entity and accountable to the government -- and to us. A government entity responsible for assisting injured New Zealanders has no place being complicit in the making of nuclear arms. Which is why we’re coming together to tell the ACC that its investment ban list exists for a reason.

Tell the ACC to follow its own guidelines and end its joint venture with Serco.

With a $33 billion investment fund to pay for the medical treatments it provides, the ACC has guidelines in place to ensure its investing in ways that helps, not hurts, people. And while the ACC says it “gave thought” to whether Serco’s nuclear arms ties were a reason not to invest, it ultimately went forward with the venture.

Even government insiders are upset about the ACC abandoning its ethics. Labour Party ACC spokesperson Sue Moroney said the ACC “came out with the wrong answer” when it decided to move forward with its venture with Serco. And New Zealand First leader Winston Peters suspected government pressure to move forward with the investment was responsible for the “silly decision.”

The ACC has ethical guidelines for its investments for a reason. It’s great that the ACC vows to get a good return on its investments while ensuring it does so in “an ethical manner.” But when it is all too happy to invest with corporations on its ban list, does it really even matter? Tell the ACC to stick to its own guidelines and drop its venture with Serco.