Greenpeace is asking NZ First leader Winston Peters what the heck his party is doing supporting an amendment Bill which could lead to greater corporate control of Aotearoa.

NZ First has supported ACT leader David Seymour’s amendment Bill to the Overseas Investment Act, through its first reading. Submissions on the Bill closed this week.

Greenpeace spokesperson Gen Toop says: "ACT is trying to change the Overseas Investment law to make it easier for multinational corporations to buy up and exploit conservation land, lakebeds, coastal zones, wāhi tapu sites and other sensitive land across Aotearoa."

"Shockingly, ACT is even trying to remove the mandatory requirement that the Government check whether a corporation has been involved in serious criminal activity before giving them access to New Zealand’s sensitive land and natural resources."

The Act currently mandates that the Government apply the Benefit to New Zealand test and Investor Test before giving consent to the sale of land that is classified as "sensitive" and allows them to decline consent if either of these tests are failed.

Sensitive land is outlined in the Act and includes conservation areas, lake beds, marine and coastal zones, offshore islands, wāhi tapu and other culturally significant sites, as well as land adjoining these areas.

The Bill proposes that instead of applying a public benefit and investor test, the Government applies a narrower "national interest" test which Greenpeace says completely fails to guarantee any meaningful consideration of environmental, cultural, or public interest values.

"NZ First currently supports a Bill that would make it easier for multinational corporations to loot and destroy Aotearoa and funnel the profits to offshore shareholders leaving New Zealanders to deal with the mess - polluted rivers, drained aquifers and degraded ecosystems," Toop says.

The Bill also scraps the requirement that water quality and sustainability be assessed before allowing overseas interests to extract, bottle and sell New Zealand's freshwater.

"NZ First claims to put New Zealand first. But this ACT party Bill firmly puts offshore corporations first and New Zealanders last. Winston Peters should withdraw his party's support for the Bill before it’s too late."

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