Parliament

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

Budget '17: Budget Spends Down Future Surpluses

Tax cuts for every working New Zealander, targeted to low and middle income earners, more generous assistance for families and renters, and a massive spend-up on public services infrastructure mark Finance Minister Steven Joyce’s election year Budget.

The package of changes to income tax thresholds, the Working for Families programme, and the Accommodation Supplement is the Budget’s political centrepiece and will cost $2 billion a year. More>>

Scoop Full Coverage: of Budget Announcements & Reaction
Latest: Scoop Search

ALSO:

 
 

Auditor-General Stands Down For Investigation: Gordon Campbell On (Not) Taking Responsibility

So Martin Matthews, our current Auditor-General wishes he could have detected “earlier” the fraud that occurred on his watch at the Ministry of Transport. Hmmm. But he could have detected it earlier, surely? That’s the point. More>>

ALSO:

NGOs Pleased: Govt To Halt Collection Of Client Data

Brenda Pilott, the chair of ComVoices and national manager of Social Service Providers Aotearoa, congratulates the government on its decision to call a halt to the collection of individual client data until the concerns of not-for-profit service providers have been worked through. More>>

ALSO:

Gosh: Blasphemy Law Repeal Struck Down

Chris Hipkins, the MP who tabled a Supplementary Order Paper to add our Blasphemy Law to the Statutes Repeal Bill, said this was a "sad day for freedom of speech, tolerance, and leadership". More>>

ALSO:

Gordon Campbell: On The Navy’s Dealings With Fat Leonard, And Twin Peaks

At an official level, our “she’ll be right” attitude routinely spills over into a keen resentment of anyone who suggests the outcomes may be less than satisfactory… The Navy has now gone one step beyond. It won’t even ask itself whether it did a good job. More>>

ALSO:

NZDF: Fifth Rotation Of Troops Heads To Iraq

The fifth rotation of New Zealand Defence Force troops left today for a six-month mission training Iraqi soldiers. More>>

ALSO:

Gordon Campbell: On The Demonising Of Iran

Will New Zealand still be willing to pursue its recent trade overtures to Iran, now that US President Donald Trump has used his speech in Riyadh to single out Iran as the main source of terrorism and instability in the Middle East? More>>

ALSO:

 
 
 
 

Opening The Election Supporters

 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election