The Greens want the Government to double down on efforts to sell fossil fuel investments, with Chlöe Swarbrick saying she will submit a members bill that will direct the Government to shift all of its investments away from fossil fuels.

At the weekend the Government announced new default Kiwisaver funds would exclude investments in fossil fuel production.

But the Greens want to go further.

Swarbrick will today submit a member's bill calling on all public funds to divest from companies directly involved in the mining and production of fossil fuels.

The big prize for the Greens would be ACC, which has roughly $44 billion under management, as of the end of the last financial year. About $1 billion of that is in fossil fuel production, according to a submission ACC made to a Parliamentary select committee last year.

At that time it had $778 million invested in renewable energy.

"Despite knowing about the climate crisis for decades, Governments have continued to invest public funds in polluting fossil fuels," Swarbrick said.

"New Zealanders want to know that the Government is taking action to prevent a climate crisis. But despite strong evidence that we cannot afford to keep burning coal, oil and gas, billions of dollars in public money is still being invested in fossil fuel industries," she said.

Swarbrick's bill would direct the public fund managers to divest funds from investments directly involved in the mining and production of fossil fuels. The funds would include ACC, the Lotteries Commission, the Government Superannuation Fund, The New Zealand Super Fund, the Public Trust, and the Venture Capital Fund.

CLAIRE EASTHAM-FARRELLY/RNZ Green MP Chlöe Swarbrick is calling on the Government to sell its fossil fuel assets.

The Super Fund, worth roughly the same as ACC, adopted a climate change investment strategy that saw it remove more than $3b worth of stocks that exceeded thresholds for either emissions intensity or fossil fuel reserves.

The bill is likely to cop criticism for people skeptical of divestment strategies.

National MP Judith Collins fired a broadside at the Super Fund on Wednesday for its climate change strategy.

She criticised the Fund's decision to pull out of Genesis Energy as part of the drive to lower the emissions profile of its investments. Genesis runs the coal-fired Huntly Power station.

"During dry winters up to 15 per cent of our electricity generation comes from that particular station how does that affect all the other investments that you look at given that we would then have brownouts and black outs?"

The Fund's CEO, Matt Whineray, responded that it wasn't the fund's job to manage the electricity supply.

Swarbrick has repeatedly tried to get the Government to direct its funds to sell fossil fuel investments. Last year, she used a Parliamentary select committee report to put pressure on the fund to sell down those assets.

JOE LLOYD/STUFF Students strike for climate change in Nelson.

She's also applied pressure to Finance Minister Grant Robertson on why he would not use his powers under the Crown Entities Act to force ACC to cease investing in fossil fuel companies.

On Wednesday Robertson said he had written to the boards of the funds owned by the Crown, "to get an idea of where they were heading".

"All of them are moving towards further responsible investment work," he said.

Fossil fuel investments continue to be popular with fund managers.

A report from the International Energy Agency in 2019 showed that renewable energy investment fell by 1 per cent last year to US$304b(NZ$471b).

New investment in renewable energy is now at its lowest level since 2014, the year before the Paris Climate Accords were signed.

At the same time investment in oil and gas extraction rose 3.7 per cent to US$477b (NZ$739b) and investment coal mining rose 2.6 per cent to US$80b ($124b).

The Government's other large investment fund, the New Zealand Super Fund divested $950m from fossil fuels in 2017.