Quakers use power of the dollar

RICHARD MEADOWS
Last updated 10:35 12/06/2014

Relevant offers

Money

Debt-to-income ratios could cause market meltdown, pundits predict Brexit brings some benefits for Taranaki people New Zealanders' credit card habit costs $2m a day South Canterbury woman gives IRD scammer a serve Falling pound could give Kiwi online shoppers more clout 11 things you should do in your 20s to be a millionaire by 30 New home loans hit fresh high in May, but high LVR loans dropping Kiwis are forking out thousands for sick pets to undergo "human" operations Gold Coast-style intensification will solve Auckland housing crisis, says economist Don't fall for 'shopper's exhilaration' and other marketing-induced emotions

New Zealand's Quakers community is pulling its cash out of banks that invest in fossil fuels, in an attempt to fight climate change.

Quakers are a Christian-based group of worshippers best known for their pacifism, plain clothing and teetotalism.

Also known as the Religious Society of Friends, the group agreed at its recent annual conference to pull funds from the four main Australian-owned banks.

Funds for their annual conference are held in state-owned Kiwibank, co-operative Oikocredit and social finance company Prometheus.

Local monthly meetings, committees and trusts have all been encouraged to follow suit, and let the organisations know why.

"Friends ... recognise that this is only a small step in reducing our consumption of things which exacerbate climate change and environmental degradation," co-clerks Elizabeth Thompson and Elizabeth Duke said in a joint statement.

Thompson and Duke said climate change threatened the extinction of many forms of life and millions or even billions of people.

The statement said Quakers had always encouraged the choice of life over death and asked investors and institutions to do the same.

About 1400 people are associated with Quakers New Zealand, which has a settlement in Whanganui.

The movement has a strong history in business and banking, with leading British banks Barclays and Lloyds both founded by Quakers.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content