Hon GRANT ROBERTSON: The super fund's world-leading approach to climate change and investment is something that we should celebrate. The responsibility for managing ACC's investment funds lies with the ACC board, which, through its investment subcommittee, regularly reviews and approves its investment guidelines, including its ethical investment policy. While this independence is important and is governed under law, I have written to all Government investment funds to outline my expectations around investment practices. This includes regular reviews, reflecting best practice, and ensuring that we meet the highest ethical standards, as New Zealanders would want us to do.