Green bank: a positive step towards low-carbon economy
The Green Party’s proposal, released today, to create a ‘green investment bank’ has been heralded as a positive step
towards a low-carbon economy by WWF.
The proposal aims to establish a government-owned for-profit bank that would specialise in lending to, and leveraging
private finance for, projects focused on carbon emissions reduction and energy and resource efficiency.
“A cleaner low-carbon economy for New Zealand is 100% possible but it won’t happen without clear direction and action
from government. New Zealand needs to kick start a transition towards a low-carbon economy and this proposal is a
positive step in that direction, said WWF-New Zealand Head of Campaigns Peter Hardstaff.
“A green investment bank would be a useful addition to the low carbon policy toolbox. A range of other countries, from
Malaysia and the United Arab Emirates to Japan and the UK, have established similar institutions. New Zealand would do
well to follow their example.”
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