Topics tagged with 'Green finance'

Banks need to actively manage climate-related risks: Reserve Bank
23 Apr 2024
Too little climate action taken too late will cut banks’ profits, but won’t threaten bank solvency or financial stability, according to the latest Reserve Bank modelling.

Govt working on classification system for sustainable finance
26 Mar 2024
The government is setting up a specialised group to advise on a classification system for sustainable finance.

RBNZ signals banks must account for climate risk
7 Mar 2024
The Reserve Bank says financial institutions need to understand and manage climate-related risks - and it highlights agriculture as a risky sector.

NZ lagging in forging agreements to meet climate obligations
16 Feb 2024
New Zealand is lagging behind other countries in sealing bilateral deals to meet climate targets - a delay which could lead to higher costs, according to a climate policy consultant.

Climate finance is targeting the wrong industries
14 Feb 2024
Roughly half of the world’s emissions currently can’t be reduced, yet green investment continues to avoid the sectors that need the most help—manufacturing, agriculture, and built environment.

Shift to ethical KiwiSaver investment - but fossil fuel investment at all-time high
9 Feb 2024
The past six months has seen the biggest fall in ‘harmful’ Kiwisaver investments for five years, according to Mindful Money. But Kiwisaver investment in fossil fuel companies is at the highest level ever, at $3.29 billion.

Best by the rest...
9 Feb 2024
In our weekly round-up of the best climate coverage in local media: Climate levy proposed for Christchurch; Peters promises $16.5 million to climate change initiatives in the Cook Islands; and more New Zealand companies are disclosing climate-related risks.

Gold in dem thar hills. Why not leave it there?
29 Jan 2024
By Jeremy Rose | Australian mining company Santana Minerals estimates there’s 82 tonnes of gold in its Rise and Shine site in the central Otago hills.

Biodiversity finance? Definitely. Biodiversity credits? Maybe
24 Nov 2023
By Jeremy Rose | The Parliamentary Commissioner for the Environment and some of the country’s major environmental groups have questioned the government’s one-eyed focus on biodiversity credits.

Germany tops €6 bln climate finance target for poorer nations three years early
4 Oct 2023
Public climate financing from Germany for poorer countries reached a new record level last year, already surpassing the 6-billion euro target set for 2025, the government has said.

NZ green investment finance provides $15m debt facility to fund Lightyears Solar’s future farms
18 Sep 2023
Lightyears Solar has received $15 million from New Zealand Green Investment Finance to help finance construction of a pipeline of consented, ground-mounted solar farm projects.

RBNZ releases results of industry climate survey
6 Sep 2023
Media release | The Reserve Bank of New Zealand - Te Pūtea Matua has published a Bulletin article highlighting high level results from a survey of prudentially regulated entities on climate change.

Record level of KiwiSaver investments in companies causing harm
4 Sep 2023
Media release | New data analysis from charity Mindful Money shows that Kiwisaver investments in companies the public want to avoid have hit record levels.

IMF warns NZ at risk of failing international emissions obligations
29 Aug 2023
The International Monetary Fund says New Zealand must do more to meet its Nationally Determined Contribution (NDC) for 2030, and is off track to meet its international obligations.

Climate mitigation patent program boosts green tech financing
10 Aug 2023
The US Patent and Trademark Office’s newly expanded program aimed at accelerating patents for climate mitigation technology is critical to garnering the funding necessary to advance the clean energy transition, researchers say.

G20 environment chiefs ready fresh bid for climate deals
28 Jul 2023
G20 environment ministers in India readied a fresh bid to strike deals tackling climate change, days after heavy criticism for failing to agree on cutting fossil fuel use.

NZGIF invests $15m in Lodestone Energy for five solar farms
27 Jul 2023
Media release - NZGIF will supply up to $15m in working capital to Lodestone Energy, to further support the construction of five solar farms in New Zealand.

Financial Markets Authority publishes scenario analysis for climate related disclosures regime
20 Jul 2023
Media release - The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has released its scenario analysis information sheet to help climate reporting entities (CREs) meet their obligations under the Climate-Related Disclosures (CRD) regime.

G20 finance chiefs meeting in India address global challenges like climate change and rising debt
19 Jul 2023
Finance ministers from the Group of 20 nations meeting in India are poised to address critical global economic challenges, including the threats posed by climate change and rising debt among low-income countries.

Govts strike deal on Green Climate Fund strategy
13 Jul 2023
Developed countries pushed for more focus on private money while developing governments wanted more public money from rich nations.

Does a new ‘global pact’ accelerate climate finance for developing countries?
6 Jul 2023
Climate hazards are escalating, nations are mired in debt and the costs of food and energy have soared around the world.

Barbados PM fights for shake-up of global climate finance
23 Jun 2023
World leaders meeting in Paris on Thursday could give poorer countries access to hundreds of billions of dollars to tackle climate change.

‘A green transition that leaves no one behind’: world leaders open letter
22 Jun 2023
Rishi Sunak, Joe Biden, Emmanuel Macron and other international leaders address development and vulnerabilities, now heightened by climate risks.

Ukraine targets initial $40 billion for 'Green Marshall Plan'
21 Jun 2023
Ukraine is seeking up to $40 billion to fund the first part of a "Green Marshall Plan" to rebuild its economy, including developing a coal-free steel industry, a senior Ukrainian official said ahead of an international summit.

World leaders converging in Paris to focus on climate finance, green growth
20 Jun 2023
Macron expects summit leaders to address challenges in developing countries through investment, infrastructure reform, and new processes.

Govt, NZ Steel to take action towards a low emissions economy
22 May 2023
The government will invest up to $140 million to subsidise one of the country’s largest greenhouse gas emitters, making it New Zealand’s biggest decarbonisation plan to date.

NZ sovereign funds to run rule over major NZ companies’ climate disclosures
18 May 2023
New Zealand’s Crown Financial Institutions (CFIs), the country’s largest investment funds, are stepping up their engagement with NZ companies over their climate change ambitions and new reporting obligations.

Green Investment Finance gets $300m govt boost
10 May 2023
In a pre-budget announcement yesterday, Climate Change minister James Shaw said New Zealand Green Investment Finance will receive an additional $300 million in investment capital from the government.

KiwiSaver contributions to deforestation on the up
9 May 2023
Over the past year New Zealand investments in companies involved in the destruction of rainforests has almost doubled from $38 million to $68 million.

Wealthy nations could meet $100 billion climate finance target in 2023
4 May 2023
As climate change continues to wreak havoc with drought in one part of the world and deadly wildfires in the other, wealthy nations could be on track to meet the $100 billion climate finance pledge in 2023. The fund is to be given to underdeveloped countries to boost resilience against climate change.

How religious groups are fighting climate change
1 May 2023
Many people have lost faith in the ability of governments to fight climate change. Projects involving fossil fuels - coal, oil and gas, the main culprits for the climate crisis - are going ahead in violation of scientific warnings.

Wall Street can help improve oceans: Belize minister
28 Apr 2023
“Belize has proven it can be done,” said Kevin Bender, senior director of sustainable debt at The Nature Conservancy. “We reduced debt burden overnight and there have been many successes in conservation so far. There were commitments to do things like move mangrove swamps to public lands and those have all been met.”

Slow start on World Bank reform angers climate-hit countries
18 Apr 2023
The World Bank meetings were supposed to be a first step in a new era of affordable loans for developing nations hard hit by climate change like Prime Minister Mia Mottley’s Barbados, one of many Caribbean islands battered by worsening hurricanes.

ECB starts disclosing climate impact of portfolios on road to Paris-alignment
24 Mar 2023
The European Central Bank (ECB) has published its first climate-related financial disclosures, which provide information on its portfolios’ carbon footprint and exposure to climate risks, as well as on climate-related governance, strategy and risk management.

A climate deal that could become a model for others
24 Mar 2023
Cape Verde is just one of many countries that are struggling under the effects of global warming. But a new approach could provide relief: Debt forgiveness in exchange for a climate fund.

Resource consents must speed up to meet climate change targets
20 Mar 2023
New research shows that a 50% improvement in resource consent processing times could be needed for New Zealand to meet its 2050 emissions target.

What Silicon Valley Bank’s collapse means for climate tech
15 Mar 2023
As the buoyancy drained out of the tech sector last year, leading to almost 100,000 job cuts in the U.S., cleantech looked like a bright spot.

The conservative battle against ‘woke’ banks is backfiring
1 Mar 2023
Conservatives have long held that the government should avoid interfering with private business decisions. But over the last two years, Republican state treasurers and attorneys general in Texas, Florida and other states have sought to blacklist banks that factor climate risks and social concerns into their investment decisions.

Preparing for climate disclosure in the largest capital market
23 Feb 2023
For corporate sustainability professionals, questions as to what to expect, when and how to prepare for the U.S. Securities and Exchange Commission's proposed climate disclosure rule are numerous, and understandably top of mind.

Nine global banks invest $45m in carbon credit platform
9 Feb 2023
Nine global banks have invested a total of $45 million in a new platform to help scale up transactions of voluntary carbon credits and make it easier for their customers to participate in the market.

How can carbon tagging digital payments help to tackle climate change?
3 Feb 2023
The majority of the goods and services that we purchase each day generate greenhouse gas emissions. Linking the digital data on these transactions to their carbon footprint could help households and businesses to make more informed decisions, and enable better targeted policy interventions.

Finance sector's climate inaction
2 Feb 2023
New Zealand’s financial sector is lagging behind its counterparts in Europe and Australia in terms of climate action, according to a recent survey.

$11trn investor coalition bans carbon removals in latest net-zero framework
1 Feb 2023
The Net-Zero Asset Owner Alliance (NZAOA), a coalition of investors representing more than $11trn, has unveiled the latest version of a decarbonisation methodology, with a renewed focus on delivering a just transition while avoiding the use of carbon removals.

NZ Super Fund to invest US$100 million in climate mitigation and adaptation
20 Dec 2022
Media release - The NZ Super Fund has committed US$100m to a fund that will invest in companies developing products and solutions for climate change mitigation and adaptation.

Is Patagonia the end game for profits in a world of climate change?
21 Nov 2022
Many brands are aligning profits with purpose, but Patagonia’s decision in September to convert its for-profit business to one under which all the profits flow through to fighting climate change is the most complex move yet by a U.S.-based company in the realm of sustainable capitalism. Is it a model for other companies to pursue in the future?

New Zealand Sovereign Green Bonds issued
16 Nov 2022
Media release - NZ Government | The Government welcomes New Zealand Debt Management’s issuance of NZ$3 billion of the New Zealand Sovereign Green Bonds that will mature in 2034.

Global South needs $2 trillion a year to tame, cope with climate
9 Nov 2022
Developing and emerging countries - excluding China - need investments well beyond $2 trillion annually by 2030 if the world is to stop the global warming juggernaut and cope with its impacts, according to a UN-backed report released Tuesday.

Reserve Bank’s CO2 emissions jump by 18%
14 Oct 2022
The Reserve Bank’s carbon footprint jumped by 18% in the 2021/22 year to 8,034 tonnes CO2e.

Larry Summers' trillion-dollar climate spending plan
12 Oct 2022
Larry Summers — who spent the last year-and-a-half warning about easy money and inflation — is calling on the World Bank to loosen its lending limits to combat climate change and think in the "trillions not the billions."

World Bank chief says he will keep 'intense' focus on efforts to address climate change
10 Oct 2022
World Bank president David Malpass has said that he is keeping an "intense" focus on the bank's efforts to address climate change and embracing the US Treasury's call to dramatically boost lending capacity to address this and other global problems.