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

Gordon Campbell: On The Ch-Ch-Changes At IRD

job cuts aren’t happening at the IRD, exactly. Instead, there’s apparently a ‘transformation’ in store, and jobs won’t be axed ; no, they will be ‘transformed’ before our eyes into… non-jobs, if you happen to be among the unlucky legion of 1,900 who are being lined up for transformation, which seems to work rather like a secular version of the Rapture.

Except that at IRD, not even your shoes will be left behind. More>>

 

Christchurch Mental Health: Hospital Too 'Awful' For Reviewers To Visit

Jonathan Coleman has to stop the stalling over a new building for mental health services in Christchurch to replace the quake damaged Princess Margaret Hospital, says Labour’s Health spokesperson David Clark... More>>

ALSO:

Greens Call For Govt Action: Children Sick Because Of NZ Housing

The Royal Australasian College of Physicians president-elect said today that children with preventable respiratory illnesses are being re-admitted to hospital because they're being sent back to cold, damp homes. More>>

ALSO:

Less Tax Cut, More Spending: Labour Launches Fiscal Plan

“Labour will invest $8 billion more in health, $4 billion more in education and $5 billion more for Kiwi families through Working for Families, Best Start and the Winter Energy Payment than the Budget 2017 projections for the forecast period.” More>>

ALSO:

Gordon Campbell: On The Greens’ Room For Political Pragmatism

The Greens here are currently being criticized by the commentariat for not making the same kind of pragmatic choices that sunk the Democrats in Australia. More>>

Gordon Campbell: On Being Humane About Welfare, Child Support, And Tax

It made for an unusual Venn diagram, but Greens co-leader Metiria Turei and Finance Minister Steven Joyce were briefly sharing some common elements this week in the set that says – hey, don’t use the powers of the state in ways guaranteed to make the system you’re trying to defend worse, not better. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election