Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Greens will establish a Green Investment Bank

13 May 2014

Greens will establish a Green Investment Bank

The Green Party will establish a Green Investment Bank as a first step in accelerating New Zealand’s transition to a smarter greener economy, Green Party Co-leader Dr Russel Norman announced today.

The Green Investment Bank will be an enduring, government-owned, for-profit bank partnering with the private sector to fund new projects ranging from renewable energy and biofuel production to new clean technologies.

“Like Kiwibank before it, the Green Investment Bank will combine the best of the public and private sectors to accelerate New Zealand’s transition to a smarter, greener economy,” said Dr Norman.

“The Bank will act as an independent and expert facilitator of private sector capital to secure billions of dollars of new investment into smart green innovation.

“The Green Bank will act as a catalyst for investment in the green economy. It will be a central instrument in transitioning investment away from polluting industries and into the clean and profitable investments of tomorrow.

“PricewaterhouseCoopers have estimated that the clean technology sector could be worth between $7.5 billion and $22 billion to the New Zealand economy by 2015. We want to ensure it’s on the higher end of those forecasts.

“Considerable new investment opportunities lie in renewable energy plants, solar panel installations, energy efficiency retrofits, the development and production of significant volumes of biofuels, and new clean technologies.

“The Bank will mirror the success of green banks overseas. There are successful precedents throughout Europe, Japan, and the USA with two of the newest green banks started in the UK and Australia.

“The Bank will cost $120 million over the next three years and will be paid for by raising oil mining royalty rates to those charged internationally.”

Dr Norman was critical of National’s failure to seize the economic opportunities presented by the cleantech revolution.

“The cleantech sector is taking off internationally but National has chosen to invest in the old economies – like mining and oil drilling – which are neither jobs-rich nor sustainable,” Dr Norman said.

“The Green Investment Bank is one of a suite of new measures we will be announcing before the election to set New Zealand on the right track – creating good jobs in a high tech, low-carbon economy.”

Link to the Green Investment Bank policy paper:
https://www.greens.org.nz/sites/default/files/green_investment_bank_policy_paper_web.pdf

green_investment_bank_policy_paper_web.pdf

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Waitangi Claim On Rehabilitation: The 'Justus' System For Māori Not Good Enough

    Closing statements at the Waitangi Tribunal case against Corrections called for immediate steps and a comprehensive review to address the high rate of Māori reoffending. More>>

    ALSO:

    Advice: PM Sets Rules For Ministers' Treatment Of Public Servants

    Prime Minister John Key has laid down the law about the way ministers and public servants should interact, saying ministers may not always like the advice they receive, but they must listen to it carefully, respectfully and professionally. More>>

    Gordon Campbell: On The Funding Changes In Special Needs Education, And Uber

    The plan to strip out the educational support for older “special needs” children in order to meet the existing shortfall in funding for special needs in early childhood education is so miserly and relentlessly stupid as to defy belief… More>>

    SPECIAL EDUCATION (& More):

    Online Learning Plans:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news