The Green Investment Fund will support the transition towards a net-zero-emissions economy by 2050, as part of a wider suite of work including the Zero Carbon Act, reviewing the New Zealand Emissions Trading Scheme and establishing the Independent Climate Change Commission.
What is the Green Investment Fund?
The Green Investment Fund will be established by the Government to make investments that both reduce greenhouse gas emissions and provide a financial return. The Fund will receive a $100m capital injection from Government and will operate independently.
The Green Investment Fund will work with businesses, infrastructure owners and investors to bring forward emissions reduction projects and draw in private investment for these projects.
The framework for the Green Investment Fund is currently being developed. The Fund will be established by the end of 2018. More information on the investment strategy and institutional arrangements will be available in the second half of 2018.
It was announced on 17 March 2018 that Budget 2018 will provide the $100m capital for the Green Investment Fund, as well funding for operations during its establishment.
The Treasury has appointed Rachel Brown, John Chandler, Karen Silk and David Woods as Reference Panel members for the Green Investment Fund.
See related Media Statement.
Budget Press release
See the related press release from Hon James Shaw, Minister for Climate Change, A green light for our net-zero-emissions future, sustainable jobs and growth.
Please email us at GreenInvestmentFund@treasury.govt.nz if you would like to receive periodic email updates on the development of the Green Investment Fund.
Frequently asked questions
How do I apply for funding for my project?
Once the Green Investment Fund has been established it will set out its investment strategy and process for identifying investment opportunities.
If there are opportunities for commercial returns why is investment not already happening?
Sometimes investment doesn’t happen because the returns from a type of investment are unproven and/or there are already adequate investment opportunities available so investors don’t need to explore new areas.
Who will run the Green Investment Fund?
The Green Investment Fund will make investment decisions independently. The exact form that Green Investment Fund takes will be confirmed later in the year.
$100m is too small to bring about the change that New Zealand needs
The Green Investment Fund will co-invest alongside private capital. Once the Green Investment Fund demonstrates investment and commercial success then other private investment will follow.