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"The Strait & Narrow"
Despite ongoing geopolitical and economic uncertainty, global equity markets staged a strong rebound in April, an outcome that has surprised many investors.
Each year, the Rua Rautau series brings together leaders and thinkers to address the evolving relationship between Māori and Pākehā in Aotearoa New Zealand, and to challenge the nation on issues of partnership, equity, and the future.
In August 2025, Waitetī Marae in Ngongotaha hosted the 24th Waitangi Rua Rautau Lecture, an annual event established in 2002 to foster reflection and debate as we approach the bicentenary of Te Tiriti o Waitangi in 2040. This year’s lecture featured FirstCape Chair Matt Whineray, and Hinerangi Raumati, Chair of Tainui Group Holdings.
The address centred on partnership in practice. Te Tiriti is not just history; it is the foundation for how we govern ourselves and relate to each other. While there has been progress, true partnership remains uneven.
During the course of his address Matt explored some key tenets and provided examples of what it means to lead, invest, and partner as we look toward 2040:
- Partnership in action: The Central North Island iwi’s stake in Kaingaroa Forests alongside the NZ Super Fund and PSP, and the Waikato Tainui–Brookfield partnership at Ruakura show what is possible when trust, shared risk, and values align. These partnerships demonstrate how combining access, capability, and capital with shared purpose creates lasting benefit.
- The 'adjacent possible’: Progress can come from using what we already have when combined in new ways. In sustainable finance, the tools and frameworks exist, shaped by global thinking and mātauranga Māori. The challenge is to apply them boldly and collaboratively, with partnership and wellbeing at the centre.
- Beyond western economics: The traditional economic model treats social and environmental costs as “externalities.” Instead, collective wellbeing should be at the heart of investment decisions. Success means balancing people, land, and future generations.
The Rua Rautau lectures ask: what does it mean to live Te Tiriti in daily decisions?
The 24th lecture was a call to action. With 15 years until 2040, what kind of nation will we become? Will we have the courage to keep moving forward?
“Tawhiti rawa tō tātou haerenga atu, te kore haere tonu – We have come too far not to go further.”
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