Climate change a threat to prosperity

The Green Party is calling on the Government to require all public fund managers to disclose their exposure to climate risks following a report by the Parliamentary Commissioner for the Environment (PCE) highlighting the financial risks of climate change for New Zealand.

The PCE, in her submission on the Emissions Trading Scheme review, said today that climate change poses a threat to New Zealand's the financial resilience and long term prosperity.

Finance Minister Bill English has previously dismissed the PCE's recommendation to prepare for the fiscal and economic impacts of climate change.

“The Finance Minister needs to open his eyes to climate change or risk being hit by the perfect financial storm,” said Green Party Co-leader James Shaw.

“Publicly managed funds in New Zealand have significant investments in the fossil fuel industry, in assets that could lose value rapidly as major economies like China and the EU shift to cleaner energy.

“New Zealanders, who have money tied up in these funds, should be aware of how much of their savings are exposed if the value of the fossil fuel industry declines.

“When I was at the Paris Climate Conference last year, people like the Governor of the Bank of England and Michael Bloomberg said ‘it’s critical that industries and investors understand the risks posed by climate change’.  

“The National Government is out of steps with the leading voices in the global financial sector. The Finance Minister needs to start listening them," said Mr Shaw.

Latest Climate Change Announcements

Story

New Zealand first in the world to require climate risk reporting

New Zealand will be the first country in the world to require the financial sector to report on climate risks, the Minister for Climate Change Jame...
Read More

Story

Greens unveil $297m fund to support sustainable food and farming

The Green Party has released its Farming for the Future Plan, including a $297m fund to support farmers and growers to transition to climate-friend...
Read More

Petition

Supporting farmers to be part of the solution

Our farmers are already leading the way toward climate-friendly agriculture - but governments must support them to go further, faster.   The Green ...
SIGN ON

Farming For The Future

Here in Aotearoa, we can have a thriving and sustainable farming sector that is good for farmers, good for people, and good for the planet. By maki...
Read More

Story

Labour’s energy policy shows progress, but more action needed to protect the planet

The Green Party says Labour’s energy policy is a step in the right direction, but the Greens would go further and faster to meaningfully tackle the...
Read More

Story

Low-emissions options for heavy transport a step closer

Getting low-emission trucks on the road is a step closer with investment in infrastructure to support hydrogen vehicles, the Energy and Resources M...
Read More

Latest Economic Development Announcements

Story

PREFU shows efforts to keep us all healthy, now we need to revenue raise

PREFU has given a good insight into what was required to ensure New Zealanders were largely supported to continue work and remain healthy during CO...
Read More

Progressive Tax Reform

In Aotearoa, there is enough to go around. But the tax system has allowed wealth to accumulate with a small number of us, while most of us have onl...
Read More

Sustainable business

In the wake of COVID-19, we must empower small businesses in Aotearoa to flourish, create new jobs, and support their local communities. The Green ...
Read More

Sustainable jobs

A sustainable economy means good working conditions and fair distribution of the benefits of our natural resources. As we respond to the disruption...
Read More

High tech economy

A strong manufacturing and technology sector will create jobs in low-emissions industries and ensure we can sell Aotearoa’s skills to the world. Th...
Read More

Story

Green Party welcomes first Wellbeing Budget

“The Green Party is proud to welcome New Zealand’s first Wellbeing Budget to deliver change for New Zealanders,” Green Party Co-leader James Shaw s...
Read More