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.
How flying can be a climate solution
Today 10:45am
By Paul Callister and Robert McLachlan - Planetary Ecology | How can aviation contribute to tackling climate change when no practicable technology-based solutions are on the horizon?
Forestry consents and relaxed rules in erosion zones sow seeds of future disaster
Fri 13 Jun 2025
OPINION: The government’s move to restrict exotic forestry on our best food-growing soils will push even more forestry investment onto high erosion risk land on the East Coast, with the worst land becoming the only land left for the most intensive and destructive land use, writes Manu Caddie
Greenwashing is rife in Australia, but could its days be numbered?
28 May 2025
COMMENT: Have you ever ticked the box to “fly carbon neutral”, had something delivered via “carbon-neutral shipping” or chosen to pay a bit extra to buy “carbon-neutral gas” from your energy retailer?
Help sustainable aviation fuels take off or delay targets, airlines warn EU
20 May 2025
Earmarked funding, risk-reduction tools, and simplified imports top Airlines for Europe’s wish list for the EU’s upcoming Sustainable Transport Investment Plan.
'Time is right' for nature credits
Fri 13 Jun 2025
Media release | Sanctuary Mountain Maungatautari and Ekos are thrilled to be partnering with central government on the development of a voluntary Nature Credits Market pilot programme, announced by Associate Minister for the Environment Andrew Hoggard yesterday.
Sustainability claims questioned as renewable diesel surges
14 May 2025
Critics are sceptical about industry claims of renewable diesel life-cycle greenhouse gas emission cuts and warn renewable diesel carbon releases will surge if sourcing is scaled up, triggering tropical deforestation as producers convert forests to energy crops, such as oil palm and soy.
Carbon auction odds-on to fail
Fri 13 Jun 2025
By Liz Kivi | The carbon price has rallied slightly in recent weeks, however with secondary market prices still hovering around the $57 mark, well below this year’s $68 auction floor price, next week’s Emissions Trading Scheme auction looks set to fail.
World leaders’ failure to act is pushing Earth past 1.5°C
Today 10:45am
Based on mounting evidence, some scientists now fear we’ve entered a new era of the climate emergency, characterized by accelerated warming and amplified disasters.
Govt mulls status quo for ETS auction settings
29 May 2025
By Liz Kivi | The government has released its consultation on the Climate Change Commission’s latest advice on Emissions Trading Scheme auction settings and volumes, putting forward the option to ignore the commission’s advice to boost auction volumes from 2028-2030.
China's approvals of coal power plants grow after 2024 decline
Wed 11 Jun 2025
China approved 11.29 gigawatts of new coal power plants in the first three months of 2025, already exceeding the 10.34 GW approved in the first half of 2024.
A credible UN carbon market needs rules that count – we’ve just set them
Wed 11 Jun 2025
COMMENT: The broad standards for a more ambitious market are now in place. But without a steady flow of investment, this progress will remain largely on paper.
Common low-grade clay strengthens low-carbon concrete
5 Jun 2025
Media release | Engineers at RMIT University have converted low-grade clay into a high-performance cement supplement, opening a potential new market in sustainable construction materials.
Cuts to climate finance put exports in jeopardy: Lawyers
23 May 2025
By Liz Kivi | The government has halved international climate finance, a move aid organisations describe as “devastating,” and which lawyers say could put our Paris Agreement commitments and export market access at risk.
Legal experts sue Climate minister over ‘glaring holes’ in climate plan
Wed 11 Jun 2025
By Liz Kivi | Legal experts are taking the government to court over its Emissions Reduction Plan, alleging it fails to fulfil basic requirements of the law – with one of the arguments focussing on an over-reliance on tree-planting.
Electric firebricks: decarbonising high-temperature industrial heat
Fri 13 Jun 2025
By Ian Mason | A new technology could offer a more cost-effective solution than hydrogen to decarbonise one ‘hard-to-abate’ sector of New Zealand’s economy, as well as having ample potential for demand response as the electricity grid becomes more renewable.
Govt budgets $200m for would-be gas investors
23 May 2025
By Liz Kivi | Energy Resources Aotearoa has welcomed the government's plan to co-invest $200 million in fossil gas expansion, while environmental and climate groups have reacted with horror.
Extreme ocean warming engulfed South-West Pacific in 2024
6 Jun 2025
By Shannon Morris-Williams | Unprecedented ocean warming engulfed the South-West Pacific in 2024, with extreme heat and rainfall causing deadly and devastating impacts and sea level rise threatening entire islands.
Government undermines regional powers to protect coastal biodiversity
Today 10:45am
Media Release | The Environmental Defence Society opposes the Government’s decision to press ahead with amendments to the Resource Management Act that severely curtail the ability of regional councils to manage the impacts of fishing on coastal marine biodiversity.
UN University report warns against carbon credits from REDD, tree planting, and improved forest management
Fri 13 Jun 2025
But the report stops short of recommending banning the trade in carbon temporarily stored in trees.
Labor accused of ‘gaslighting’ Australians on climate crisis as fossil fuel projects keep getting approved
9 Jun 2025
‘They offer sympathy and then just go and approve massive fossil fuel projects anyway,’ one advocate says.
Watts talks big on energy reform, but barriers persist
29 May 2025
By Shannon Morris-Williams | Energy and Climate Change minister Simon Watts says the government is doubling down on efforts to boost renewable energy generation, streamline regulation, and drive private sector investment as New Zealand faces mounting energy security and affordability challenges.
As methane climate impacts soar, NGOs, scientists, and advocates launch campaign to 'pull the methane emergency brake'
Fri 13 Jun 2025
Media release | International NGOs, scientists, and climate advocates are launching a global campaign calling for deep, rapid, mandatory cuts in methane emissions as the best way to lower near-term global temperature rise.
Govt uses climate change as ‘Trojan horse’ for other objectives
Tue 10 Jun 2025
By Shannon Morris-Williams | The Waitangi Tribunal has heard that the New Zealand Government’s international trade and investment agreements are failing to meet Tiriti o Waitangi obligations in the context of climate change – prioritising commercial interests while sidelining Māori rights and worldviews.
Methanex closure comes early this year
14 May 2025
The almost-now-annual closure of Methanex has come earlier this year, giving more confidence that the electricity system will get through the winter without a fuel shortfall.
What happened to the hydrogen economy?
3 Jun 2025
The hydrogen car that was supposed to carry us into a cleaner future is still not in the driveway. In fact, outside of a few test markets, it’s not in anyone’s driveway.
Climate change could drive surge in foreclosures and lender losses, new study finds
22 May 2025
Extreme weather linked to climate change could spell financial ruin for many American homeowners and lead to billions in losses for lenders, a new study finds.
Will NZ walk away from the Paris Agreement?
20 Dec 2024
By Geoff Bertram | COMMENT: Unless the government can find very cheap offshore mitigation, the temptation to walk away from its Paris Agreement obligations may well be too strong to resist for a coalition government focused on fiscal austerity.
Energy Australia apologises to 400,000 customers and settles greenwashing legal action
22 May 2025
Energy retailer says carbon offsetting ‘not the most effective way’ to reduce emissions.
Could ‘orange’ hydrogen be NZ’s key to net-zero?
30 May 2025
By Liz Kivi | New Zealand could be sitting on resources for a thriving multi-billion-dollar, low-carbon hydrogen economy, which might even be capable of creating a net reduction of carbon dioxide, according to scientists.
Carbon News launches price index
24 Jun 2024
Today’s issue is the first to feature Carbon News’ own carbon price index for secondary market spot prices for NZUs on New Zealand’s compliance market.
Tribunal asked to halt seabed mine fast-track
Today 10:45am
By Craig Ashworth, Local Democracy Reporter | South Taranaki hapū want the Waitangi Tribunal to halt a fast-track bid to mine the seabed off Pātea.
Foresters baulk at restrictions, land ballots
Wed 11 Jun 2025
By Liz Kivi | Forestry groups say that new legislation will introduce further uncertainty for planting plans and poses a threat to climate targets.
Ocean current ‘collapse’ could trigger ‘profound cooling’ in northern Europe – even with global warming
Fri 13 Jun 2025
A “collapse” of key Atlantic ocean currents would cause winter temperatures to plunge across northern Europe, overriding the warming driven by human activity.
Fight over coal mine heats up
30 May 2025
Forest & Bird is calling on the government to create a new scientific reserve covering the Denniston Plateau on the West Coast, which would stop a fast-tracked coal mine.
Microplastics found in sand on dozens of NZ beaches
4 Jun 2025
Scientists have extracted microplastics from the sand of 22 beaches from the Far North to Banks Peninsula.
Legislation introduced to restrict farm-to-forest conversions
Tue 10 Jun 2025
Agriculture and Forestry Minister Todd McClay has today introduced a bill to Parliament that he says will put a stop to large-scale farm-to-forestry conversions.
Israel deports activist Greta Thunberg after military seized Gaza Freedom Flotilla ship
Thu 12 Jun 2025
Israel deported activist Greta Thunberg on Tuesday, the country's Foreign Ministry said, a day after the Gaza-bound ship she was on with 11 other people was seized by the Israeli military.
Straterra has a new name: the New Zealand Minerals Council
16 Apr 2025
Media release | Straterra has been renamed as New Zealand Minerals Council, says chief executive Josie Vidal.
Could Queenstown become the world’s most electric city?
Wed 11 Jun 2025
By Shannon Morris-Williams | Queenstown is set to become the focus of an ambitious initiative aiming to transform it into the world’s most electrified destination.
Climate progress slowing, says Auckland councillor
5 Jun 2025
By Shannon Morris-Williams | The devastating cyclone that tore through Tāmaki Makaurau in 2023 left behind more than just broken infrastructure, sparking calls to focus on facts over ideology in the fight against climate change.
Green budget 'ludicrous la-la land' – govt
15 May 2025
Prime Minister Christopher Luxon said the budget was "clown show economics" and an "absolute circus".
Biochar's negative emissions tech coming to Fieldays
6 Jun 2025
Biochar Network New Zealand will showcase its negative emissions technology biochar at this year's Forestry Hub at Fieldays 2025.
United Nations carbon market rules agreed but concerns remain
25 Nov 2024
New carbon market rules agreed at the fractious UN climate summit will be a relief to New Zealand and Singapore, who were leading the negotiations, but concerns about greenwashing and disadvantaging nature-based solutions remain.
“It’s not the car – it’s how we move” – EECA
3 Jun 2025
By Shannon Morris-Williams| New Zealand’s transport emissions conversation has focused heavily on electric vehicles – but Richard Briggs, group manager, delivery and partnerships at the Energy Efficiency and Conservation Authority, says we’re asking the wrong question.
Rapid action vital following UN Ocean Conference – experts
Thu 12 Jun 2025
New Zealand-based experts are calling for rapid and transformative action to restore nature - and our relationship with it - at the third UN Ocean Conference in France this week.
Waste Levy risks becoming ‘slush fund’ under proposed changes – Commissioner
5 Jun 2025
By Shannon Morris-Williams | Proposed changes to New Zealand's waste legislation risk undermining public trust in the waste levy scheme, according to Parliamentary Commissioner for the Environment Simon Upton.
Govt's RMA overhaul sparks fears for nature and climate
30 May 2025
By Shannon Morris-Williams | The Government has opened public consultation on the biggest overhaul of environmental planning rules in New Zealand’s history, with critics warning it puts nature and climate at risk in favour of fast-tracked development and industry expansion.
Tropical forest loss hit new heights in 2024; fire a major driver in Latin America
23 May 2025
Tropical forest loss skyrocketed in 2024, with vast swaths of primary forest consumed by fire, according to new satellite data.
For the first time, China invests more in wind and solar than coal overseas
29 May 2025
China’s Belt and Road Initiative, long derided for its heavy carbon footprint, was dominated by wind and solar power projects for the first time from 2022 to 2023, according to a new analysis. But coal plants financed in earlier years are still coming online.
