Sovereign Bond Investing and Human Rights: An Analysis of New Zealand’s Retail Investment Funds

Anne-Marie Brook (), K. Chad Clay () and Zoe Shepherd ()
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Anne-Marie Brook: Human Rights Measurement Initiative (HRMI) and Motu Economic and Public Policy Research, https://www.motu.nz/about-us/people/anne-marie-brook
K. Chad Clay: School of Public and International Affairs, University of Georgia, https://spia.uga.edu/faculty-member/k-chad-clay/
Zoe Shepherd: School of Public and International Affairs, University of Georgia, https://spia.uga.edu/student/zoe-shepherd/

No 25_10, Motu Working Papers from Motu Economic and Public Policy Research

Abstract: The human rights dimension of sovereign bond investment has been largely underexplored, even as ESG factors gain traction in other asset classes. This report presents a comprehensive snapshot of New Zealand retail investments in sovereign bonds as of March 2024, combining detailed portfolio data from KiwiSaver and other retail funds with the Human Rights Measurement Initiative (HRMI)’s Rights Intelligence 2024 dataset, which scores countries on human rights. Findings reveal significant lending to governments designated as 'high alert' for human rights violations and show that standard fund certifications fail to effectively screen for such investments. By shedding light on this overlooked area, the report aims to raise awareness and promote more responsible investment practices both locally and globally. The report identifies a need for more products that prioritise human rights, enhanced certification standards, and increased investor awareness.

Keywords: Human rights; sovereign debt; investing; ESG; New Zealand (search for similar items in EconPapers)
JEL-codes: F34 G23 G32 K32 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2026-11-04, Revised 2026-11-04
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