New Zealand has set ambitious targets to double renewable energy generation by 2050 and ensure an abundant, affordable, and clean energy system that is resilient and secure. CSF Director of Programs, Nigel Gormly says, “achieving these goals will require significant investment.”  

Areas for investment include end use electrification (especially heating and transportation), energy efficiency improvements, renewable electricity generation where applicable, and energy storage technologies (particularly batteries).  

“Technology solutions already exist in these fields that could eliminate much of New Zealand's energy emissions while also enhancing energy resilience. The challenge for New Zealand is not one of invention but rather how to hasten the widespread adoption of these proven technological solutions at scale. This is where novel finance solutions play a role” says Gormly. 

Through this partnership, CSF and EECA will explore new financial mechanisms to accelerate the diffusion of technological solutions at scale.  

The focus is on identifying mechanisms to reduce market barriers, reduce risk, and crowd-in additional private capital. Working closely with the financial sector, the partnership will assess how alternative financing structures can be effectively scaled to unlock investment and speed up the transition. 

Murray Bell, EECA GM Policy and Regulations, says “The energy transition is one of the most significant economic transformations New Zealand will face, and vital to improving energy security and affordability for everyone.  Mobilising private capital is essential to achieving the country’s goals. This partnership is about unlocking that potential by creating the right conditions for investors to confidently back clean energy projects that benefit businesses, communities, and future generations.”  

To stay up to date with about how this partnership is shaping the future of sustainable energy finance see https://sustainablefinance.nz/novel-financing/ 

About EECA 

The Energy Efficiency and Conservation Authority (EECA) is a Crown entity, established under the Energy Efficiency and Conservation Act 2000 (the Act). As set out in the Act, EECA exists to “encourage, promote, and support energy efficiency, energy conservation, and the use of renewable sources of energy.”  EECA are a delivery agency, a regulator, and an authority for energy use, who seeks to build a smart and efficient national energy system that balances affordability, prioritises reliability and resilience, increases productivity, and achieves positive environmental outcomes.   

About CSF  

The Centre for Sustainable Finance (CSF) is a charitable trust that works in partnership with Government, and leading financial institutions to direct and accelerate finance towards sustainability and resilience outcomes across key sectors of the New Zealand economy.