Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Auckland Council Endorses C40 Fossil Fuel Divestment Declaration

The Environment and Climate Change Committee has today unanimously endorsed the C40 Cities Divest/Invest Declaration, reaffirming Auckland Council’s policy of not investing in companies involved in the production of fossil fuels and committing to championing investments in the green economy.

Auckland is a signatory to the C40 Cities Climate Leadership Group: a network of 97 global cities committed to fighting climate change and creating a healthier, more sustainable future. C40 members represent more than 700 million people worldwide and account for a quarter of global GDP.

The C40 Divest/Invest Declaration is focused on cities leading the way by divesting financial assets from fossil fuel companies and supporting the green economy.

Mayor Phil Goff says while the council already adheres to a Responsible Investment Policy and does not have any fossil fuel investments, the declaration reiterates its commitment to a zero-carbon future and creates further impetus for action on climate change.

“In responding to this declaration, council is committing to tangible actions, including increasing our financial investments in climate solutions. Last year, for example, the vast majority of the council’s own borrowing was through green bonds, where funding raised is used for environmentally sustainable projects.

“These commitments will add to the $152 million of new spending on climate initiatives in last year’s Recovery Budget, as well as the huge amount of work underway across the Council Group to decarbonise our infrastructure and make it more resilient to the impacts of climate change.”

In addition to increasing investment in climate solutions, the declaration requires the council to advocate for fossil-free and sustainable finance by other investors and all levels of government, and monitor and communicate council progress to C40 on an annual basis.

Councillor Richard Hills, who chairs the Environment and Climate Change Committee, says the declaration underscores the seriousness of the climate crisis.

“The landmark report released this week by the Intergovernmental Panel on Climate Change (IPCC) is very clear: climate change is already here, and without rapid and coordinated action globally, it will get significantly worse.

“This declaration reaffirms our commitment to not investing in companies engaged in the extraction of fossil fuels.

“It also follows council’s introduction of tools to finance climate action, such as green bonds, which reflects the other side of the divestment/investment strategy that signatories to this declaration are committing to,” Hills says.

“Since 2018, the Council Group has raised more than $850 million in green bonds to finance and refinance projects such as electric trains and cycling infrastructure.

“That’s good, but the challenge to the council now is to ensure that the climate is at the heart of every single decision we make.”

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why New Zealand Needs To Change Its Defence Habits

In a flashback to the military displays of days gone by, one of our frigates recently joined a Carrier Strike show of force in the South China Sea, en route to a joint military exercise in Singapore with our traditional allies, called BersamaGold21. Reportedly, Anna Powles, from the Centre of Defence and Security Studies at Massey University felt this to be a case of us doing our bit to uphold international law, and the right of free transit through the region in question... More>>

Government: New COVID-19 Protection Framework Delivers Greater Freedoms For Vaccinated New Zealanders

Vaccinated New Zealanders will regain everyday freedoms when the country moves to a new simplified COVID-19 Protection Framework that doesn’t rely on nationwide lockdowns as the main measure to stop the virus spreading. In a suite of announcements that establish a pathway out of restrictions the Government is also providing up to $940 million per fortnight to support businesses through the challenging period... More>>



Government: Responds To Independent Review Into WorkSafe

The Government has clear expectations that WorkSafe must action the recommendations of the independent review into the regulator to improve its management of adventure activities following the tragedy at Whakaari White Island, Workplace Relations and Safety Minister Michael Wood says... More>>

Government: New Zealand Secures Historic Free Trade Deal With The United Kingdom
New Zealand and the United Kingdom have agreed in principle the details of a historic Free Trade Agreement (FTA), which will further accelerate our COVID-19 economic recovery say Prime Minister Jacinda Ardern and Minister for Trade and Export Growth Damien O’Connor... More>>


Ombudsman: Launches Investigation Into MIQ Booking System
The Chief Ombudsman Peter Boshier is launching a broad investigation into the Managed Isolation and Quarantine (MIQ) booking system after receiving hundreds of complaints... More>>


Pay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>

Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>

Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>




InfoPages News Channels