Building New Zealand’s Future Wealth through a Green Economy

Auckland, 15 November 2011 - Pure Advantage, the organisation championing a move to a green growth economy says New Zealand needs much more decisive leadership in order to position the country for opportunities in sustainable and innovative niche industries where we can have a natural competitive advantage.

To highlight this, leading UK-based global strategic economics consultancy Vivid Economics is preparing a significant macroeconomic report on New Zealand’s green growth opportunities in conjunction with Lord Stern of the London School of Economics with an executive summary released today.

Rob Morrison, Chairman of Pure Advantage, says the macroeconomic report will critically assess and measure New Zealand’s green growth opportunities and benchmark the country’s performance.

“The report summary sends a clear message that New Zealand should embrace the green growth opportunity and capitalise on our nimbleness and small size as leaders, not only in areas like low energy intensity farming and sustainable fisheries but also in new key green growth industries some of which are already making a global impact such as Lanzatech, ” says Morrison.

Morrison adds that the global value of potential additional commercial opportunities, from the shift to a green world economy, is estimated to be up to $6.0 trillion a year by 2050.

The green economy will be driven by innovation and as one of Pure Advantage trustees, Sir Paul Callaghan noted recently:

“With only 0.2% of the world's economy we can succeed in the niche markets of the world, growing businesses that are substantial in the New Zealand context. We have to think like Singapore, not as we have done for 150 years, as a country that can live off its natural resources.”

Furthermore Morrison points to the UN Development Programme Report (Sustainability and Equity: A better future for all) which says,

“Growth driven by fossil fuel consumption is not a prerequisite for a better life in broader human development terms…investments that improve equity – in access for example to, renewable energy, water and sanitation…could advance both sustainability and human development.”

Morrison adds that the savings from green growth, in particular with a greater emphasis on energy efficiency will also be significant and New Zealand will benefit if we reduce our dependence on fossil fuels.

“The International Energy Association estimates that the net savings to 2050 from reduced fuel use have a present value of US$8 trillion. In New Zealand the savings would be hundreds of millions of dollars and would be re-invested into education, health and infrastructural development to build the wealth of our country in a way that would lift living standards overall.”

Pure Advantage’s macroeconomic report is due to be published and launched in March 2012.

About Pure Advantage
Pure Advantage has been established by a group of New Zealand business leaders united by a shared vision of green growth for greater wealth. Pure Advantage is determined to deliver world-leading improvements to our economy, our environmental performance and the living standards of all New Zealanders. The name reflects New Zealand’s pure, clean, green competitive advantage on the world stage.

It is our belief that our country can have a better future if we take action now to protect our unique natural environment, grow our high value exports and develop new industries that will thrive in international green growth markets.

New Zealand’s economic and environmental performance is sliding, and the goal of greater wealth for our country and our people is slipping further away. Our exporters cannot afford to be caught in the gap between New Zealand’s clean, green marketing proposition and a different reality.

By working with communities, businesses, Government and iwi, Pure Advantage believes that we can make a difference.

Join us and help turn our natural advantages into greater wealth for all New Zealanders.
Sign up through our website at www.pureadvantage.org and also visit us on Facebook, Twitter and YouTube.

About Vivid Economics

Vivid Economics is a leading strategic economics consultancy with global reach. We strive to create lasting value for our clients, both in government and the private sector, and for society at large. In all our work, we put economics to good use by supporting important decisions and carrying the argument to implement them.

We are a premier consultantcy in the policy-commerce interface and for resource- and environment-intensive sectors, where we advise on the most critical and complex policy and commercial questions facing clients around the world.

The success we bring to our clients reflects a strong partnership culture, solid foundation of skills and analytical assets, and close cooperation with a large network of contacts across key organisations.

The foundations of our business are our values, a vivid approach to advice, world-class skills and our commitment to developing and maintaining the latest cutting edge techniques in the field of economics. These are housed in an independent, highly-motivated, employee-owned business, based in London.

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