Green bank: a positive step towards low-carbon economy

The Green Party’s proposal, released today, to create a ‘green investment bank’ has been heralded as a positive step towards a low-carbon economy by WWF.

The proposal aims to establish a government-owned for-profit bank that would specialise in lending to, and leveraging private finance for, projects focused on carbon emissions reduction and energy and resource efficiency.

“A cleaner low-carbon economy for New Zealand is 100% possible but it won’t happen without clear direction and action from government. New Zealand needs to kick start a transition towards a low-carbon economy and this proposal is a positive step in that direction, said WWF-New Zealand Head of Campaigns Peter Hardstaff.

“A green investment bank would be a useful addition to the low carbon policy toolbox. A range of other countries, from Malaysia and the United Arab Emirates to Japan and the UK, have established similar institutions. New Zealand would do well to follow their example.”

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