The Government has announced a joint initiative with businesses to tackle climate change, launching a $100 million fund to reduce New Zealand’s greenhouse gas emissions.
The fund will assist the Government’s plan to move to a clean, green, carbon-neutral country, Prime Minister Jacinda Ardern and Climate Change Minister James Shaw announced today.
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It also delivers on a Green Party Confidence and Supply Agreement commitment.
Ms Ardern said tackling climate change is a priority for her Government.
“And business involvement is crucial to our success. No one can opt out of the impacts of climate change.
“Lowering emissions will require innovation and action from all sectors,” she said.
“New Zealand Green Investment Finance will be a commercially focused investment company which will work to invest with business to reduce emissions while making a profit,” said James Shaw.
“The Government’s $100 million start-up capital injection is intended to stimulate new private sector investment in low-emissions industries; with returns over subsequent years expected to pay back the Government’s investment and see NZ Green Investment Finance stand on its own commercial footing.
“More and more investment dollars are looking for clean, sustainable ventures to invest in. Establishing this fund positions New Zealand to attract its share of that investment capital.
Listen to the full interview with James Shaw above.
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