We know there is no Planet B, and our future has to be Green. This Budget takes a big step forward in our plan to transition to a net-zero-emissions economy by 2050, with a Green Investment Fund.
Starting with $100 million, the fund will encourage private-sector investment in high-value, low-carbon industries, clean tech and new jobs.
Funds like this have been hugely successful in Australia, the UK and some US states. Smart businesses see the value in shifting to climate-aligned investments, and we’re going to make sure Kiwi organisations are part of that shift.
The 2018 Budget will also help deliver on the Government’s plan to address climate change, which includes:
- passing a Zero Carbon Act
- amending New Zealand’s emissions trading scheme
- establishing an independent Climate Change Commission
- continuing New Zealand’s international efforts to ensure the integrity of the Paris Agreement.