The council has been left with a lot to mull over when it
comes to settling on an ethical investment strategy for the
Most of the 300 submissions as part of the annual plan
process favoured ethical investment, but a large range of
views about what constituted ''ethical'' were shared with
Submitters said the council should avoid investing in
everything from armaments and tobacco - which there was broad
agreement on - to brothels and bottled water companies.
Many people urged the council not to invest in companies
involved in extracting fossil fuels.
Dr Bruce Hamill said investing in fossil fuels meant playing
''Russian roulette'' with St Kilda and parts of South
Dunedin, which were under threat from sea level rises.
Methodist Mission chief executive Laura Black said the fund
should be more than about maximising ''shareholder return''.
For example, the council should not fund building a new
stadium in Christchurch or an international airport in
Peter Dowden said the council should avoid investing in
Israel unless Israel withdrew from the West Bank.