Parliament

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

 

Pilot To Unlock Private Finance For Industrial Businesses Going Green

 

· Championing green finance products and expertise

· Encouraging competitive rates for decarbonisation

· Helping de-risk innovative, sustainable investment

· Maximising the impact of government co-funding

The Government, through the Energy Efficiency Conservation Authority (EECA) has begun an innovative green private finance pilot, working with participating financiers to help businesses get finance for big decarbonisation projects, says Minister of Energy and Resources, Megan Woods.

“This pilot will further support initiatives focussed on climate impact and emissions reduction,” Megan Woods said.

“It will help link up large businesses wanting to decarbonise with green financial products, services and expertise, and streamline the process of private funding being made available.”

The pilot is aligned with the government’s expanded Government Investment in Decarbonising Industry (GIDI) Fund administered by EECA. EECA is inviting applicants with large decarbonisation projects to apply now for contestable co-funding to help reduce the carbon emissions from their industrial processes.

The support offered by each financier to GIDI applicants depends on the suite of sustainable products and services they offer – this may include discounted lending rates, advisory services, and expertise to support the implementation of complex energy projects.

“We know we need more tools to help us achieve our climate change goals. Green finance initiatives can help fill the investment gap businesses face when trying to do the right thing. This will benefit all New Zealanders,” Megan Woods said.

“We are thrilled to have such excellent support for the decarbonisation of New Zealand business from participating financiers. Joint problems require joint solutions, and this pilot is a great example of that.”

Notes to Editors

GIDI is administered by EECA (the Energy Efficiency and Conservation Authority) and is a partnership between business and government – the expansion of the programme was part of the Climate Emergency Response Fund (CERF) 2022 Budget announcement and has come off the back of the significant success of the programme to date.

Prospective GIDI applicants can find out more about the finance on offer on EECA’s website – GIDI Private Finance Pilot.

Participating financial providers include:

· ANZ

· ASB

· BNZ

· Kiwibank

· NZGIF

· Purpose Capital

· Simply Energy

· Solar Bay

· Westpac

EECA will not have a direct role in negotiating the relationship between the financiers and prospective GIDI applicants but will support information sharing.

EECA gives no advice, recommendation, representation, or warranty in respect of fitness for purpose or suitability or otherwise, has no responsibility for, and will not be liable for any decisions made by a finance provider.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Case For Nationalising Our Urban Bus Services


When it comes to funding and managing public transport, should local government or central government bear most of the responsibility for delivering a quality service? Ratepayers or taxpayers? Those basic questions re-surfaced yesterday, after the government announced its intention to scrap the Public Transport Operating Model (PTOM) imposed by the last National government in 2013. That model had required councils to use private contractors to run the buses, via a cut-throat competitive tendering process...
More>>




 
 

Privacy Commissioner: Public Input Sought To Inform Privacy Rules For Biometrics
Privacy Commissioner Michael Webster is encouraging New Zealanders to have their say on the use of biometric information in Aotearoa New Zealand... More>>

National: Food Prices Climb Taking Kiwis Backwards
Kiwi families continue to battle runaway food prices, National’s Finance spokesperson Nicola Willis says... More>>



Transport & Infrastructure: Have Your Say On The Future Of Inter-regional Passenger Rail In New Zealand

The Transport and Infrastructure Committee has opened an inquiry into the future of inter-regional passenger rail in New Zealand. The aim of the inquiry is to find out what the future could hold for inter-regional passenger rail... More>>



Government: Creating Sustainable Public Transport For All
Workers and public transport users are at the heart of the new Sustainable Public Transport Framework, Transport Minister Michael Wood announced today... More>>

Government: Tax Break To Boost Long-term Rental Supply
The Government is encouraging more long-term rental options by giving developers tax relief for as long as the homes are held as long-term rentals, the Housing Minister Megan Woods has announced... More>>


National: NZ Migrant Arrivals Hit Lowest Mark Since 1990s
Today’s net migration figures show that Labour has failed to deliver the desperately needed skilled migrants they promised, meaning labour shortages will persist into the future, National’s Immigration spokesperson Erica Stanford says... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels