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New Zealand Green Investment Finance Ltd

New Zealand Green Investment Finance Ltd (NZGIF) is being established to accelerate low emissions investment in New Zealand.

Latest news: 5 December - $100 million investment fund launched to invest in reducing emissions (Beehive website).

As part of Budget 2018 the Government announced  its intention to establish a Green Investment Fund. The establishment of New Zealand Green Investment Finance Ltd is part of the Government’s commitment to address climate change and support New Zealand’s transition towards a net-zero-emissions economy by 2050.  It is part of a suite of policy initiatives including;

  • 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

NZGIF will be formally established as a company under schedule four of the Public Finance Act 1989. This means it will operate independently from Government and allow it to work in a market responsive way.

The company will have a high degree of flexibility with respect to its where and how it invests, however it is expected that there will be opportunities in industrial process heat, transport, energy efficiency, distributed energy networks and agriculture.

The overall aim of NZGIF is to accelerate low emissions investment in New Zealand by focusing on the following four key objectives:

  1. Make investments that lower domestic emissions
  2. Crowd-in private finance
  3. Make investments on a commercial basis
  4. Undertake a market leadership role 

New Zealand Green Investment Finance - at a glance

Key Appointments

The Minister for Climate Change Hon James Shaw has appointed Cecilia Tarrant as Chair, David Woods as Director, and Sir Robert Fenwick as NZGIF Ambassador

Cecilia Tarrant – Chair

Cecilia Tarrant - Chair NZGIF
Cecilia Tarrant is a professional company director with a background in international banking and finance. Cecilia is currently the Chair of the Government Superannuation Fund Authority, a Director of Seeka and Payments NZ, a Member of The University of Auckland Council and a Trustee of The University of Auckland Foundation.  Cecilia is active in early stage angel investing as the Chair of the ArcAngels Angel Investment Network and as a member of ICE Angels. She was previously a Director of Fletcher Building and the SCA Property Group Trustee NZ Limited. Prior to pursuing a governance career, Cecilia was a Managing Director at Morgan Stanley. She has extensive international experience in capital markets, banking and finance, having worked first as a lawyer in San Francisco and then as an investment banker in New York and London.

David Woods - Director

David Woods - Board Director NZGIF
David Woods has had an international senior banking career in Europe, mainly with ABN AMRO spanning 1998 to 2008.  Most recently, he has been Managing Director of Oikocredit International, a large social finance/impact investing organisation, which promotes agriculture and renewable energy in the developing world. Since settling in New Zealand he has undertaken corporate advisory work for New Zealand and international companies involved in social enterprises, both from management and governance perspectives, and was the first independent chair of the Impact Enterprise Fund New Zealand (a joint venture between Akina Foundation, New Ground Capital and Impact Ventures).  He is currently the Deputy Chair of the National Advisory Board on Impact Investing, a Trustee of the Gift Trust New Zealand and a director of Whai Rawa Ltd (a managed savings plan within Te Runanga Ngai Tahu). 

Sir Robert Fenwick  - Ambassador

Sir Robert Fenwick - Ambassador
Businessman, environmentalist and professional director, Sir Rob is a respected advocate for sustainability in both public and private sectors. He has started several successful businesses including municipal composting operation Living Earth Ltd and Waiheke Island based Te Matuku Oysters Ltd. 

He chairs Sustainable Seas National Science Challenge, The Kiwi Trust and Predator Free NZ and is a director of Te Papa, Ngati Whatua Orakei’s corporation Whai Rawa Ltd and sits on sustainability advisory panels for Westpac Bank, Air New Zealand, Waste Management NZ and Fonterra, which he chairs. He co-founded the Sustainable Business Council and The Aotearoa Circle; is an inductee of NZ Business Hall of Fame and has an honorary doctorate from Lincoln University.

He has made a significant contribution to conservation in New Zealand and Antarctica such as leading the Predator Free NZ campaign and was knighted for services to business and conservation in 2016.

Contact

Email GreenInvestmentFund@treasury.govt.nz to receive email updates on Green Investment Finance Limited.

Last updated: 
Wednesday, 5 December 2018