Topics tagged with 'Green finance'
Corporations using misleading climate pledges to greenwash their image
3 Feb 2022
Media Release - Major global companies are avoiding meaningful climate action and are instead using false, misleading or ambiguous green claims, a new report shows.
Investors urge government to support a global climate disclosure regime
27 Jan 2022
The Investor Group on Climate Change says the government should support the creation of a global reporting regime for climate risk disclosures.
Economist proposes carbon backed currency
27 Jan 2022
With alternative coins flourishing and Central Banks designing their own digital currencies, there is a potential hard-backed currency which cannot be ignored: carbon. Using carbon to back a global currency would redistribute wealth, incentivize low carbon technology and avoid the environmental taxes which hit the world’s poor the hardest, writes Australian economist Steve Keen.
Why big central banks are becoming climate warriors
17 Dec 2021
The world’s largest central banks have been joining the fight against climate change, figuring that they can’t ignore the mounting risks of doing nothing. Melting glaciers may be a huge leap from monetary policy, but policy makers say they must respond to threats that have the potential to disrupt the global economy.
World's largest asset managers fail to back climate-action resolutions
16 Dec 2021
Many of the world's biggest money managers have pledged to make their investment portfolios reach net-zero greenhouse-gas emissions by the mid-century. But they still aren't using their shareholder voting power to place more pressure on the companies whose stock they own to take action on climate change.
Green finance groups slam HSBC's carbon exit plan
15 Dec 2021
British banking giant HSBC has published a plan to stop financing thermal coal activities but it is being criticised by environmentalists for not going far enough.
Germany approves billions for climate, modernisation fund
14 Dec 2021
The German government on Monday approved 60 billion euros (NZ$114 billion) in funding to be used for combating climate change and modernizing the country, a move that the new finance minister described as a “booster” for Europe's biggest economy.
The politics of climate change and ESG are about to get ugly
14 Dec 2021
2022 will bring another election in the United States, a blessing bestowed upon Americans every 24 months. We’ll hear about the economy, jobs, immigration, wages, vaccines, health care, housing, guns, abortions and — wait for it — climate change and ESG.
Boost for Tuvalu's economic, social and climate resilience
10 Dec 2021
Tuvalu will receive a significant boost with the World Bank’s Board of Executive Directors approving a US$17.5 million commitment to support its ongoing climate adaptation efforts.
Government incentives for green bonds may be necessary: Reserve Bank
3 Dec 2021
The Reserve Bank has suggested incentives such as tax breaks may be necessary to grow New Zealand’s green bond market at the pace required to combat climate change.
$22-trillion time bomb’ ahead unless banks drop high-carbon investments: Moody’s
30 Nov 2021
Financial institutions are facing a US$22-trillion time bomb due to their investments in carbon-intensive industries, Bloomberg News reports, citing a study last week by Moody’s Investment Services.
Asset owners have little impact in reducing carbon footprints of companies: report
30 Nov 2021
The world’s largest stewards of capital are struggling to move the needle on companies’ carbon footprints and emissions reduction efforts, according to research conducted by EDHEC-Risk Institute.
Housing group takes out top prize at Sustainable Business Awards
26 Nov 2021
Community Finance – a collaboration between philanthropic foundations, financial institutions, community housing provides and the Ministry for Housing – received the supreme award at the Sustainable Business Awards last night.
How a new global carbon market could exaggerate climate progress
25 Nov 2021
Nations are poised to begin building an international carbon market, after finally adopting the relevant rules at the UN climate conference in Glasgow earlier this month.
What's next for the Fed on climate change
24 Nov 2021
The Federal Reserve is poised to increase its climate focus even as President Biden's nomination of Chairman Jerome Powell to a second term disappointed advocates of policies to tilt the economy away from fossil fuels.
ECB warns most EU banks have no 'Paris' climate plan
24 Nov 2021
The European Central Bank (ECB) has warned that most commercial banks it supervises do not have concrete plans to start preparing for climate change.
Big climate change job awaits WTO
24 Nov 2021
From laying down the law on fossil fuel subsidies to promoting low-carbon supply chains, there is no shortage of ways in which the World Trade Organisation could be at the forefront of the global fight against climate change.
$1 million in innovation funding up for grabs
17 Nov 2021
The Westpac NZ Government Innovation Fund has announced a $1 million funding pool to drive innovation around financing and incentivising the decarbonisation of Aotearoa.
NZGIF pumps $40 million into solar
16 Nov 2021
The government-owned New Zealand Green Investment Finance bank is investing up to $40 million in commercial-scale solar installations.
Fixing climate finance: Jeffrey Sachs
16 Nov 2021
The United Nations Climate Change Conference in Glasgow (COP26) fell far short of what is needed for a safe planet, owing mainly to the same lack of trust that has burdened global climate negotiations for almost three decades.
Cook Islands calls for new class of climate debt
11 Nov 2021
Cook Islands prime minister Mark Brown has called for climate related debt to be treated differently from national debt.
Climate is the ‘biggest single opportunity’ the insurance industry has ever seen: Lloyd's
10 Nov 2021
CLIMATE is the “ultimate systemic risk” and represents “the biggest single opportunity the insurance industry has ever seen,” according to the CEO of the centuries-old insurance market Lloyd’s.
London Stock Exchange aims to bring firms’ carbon claims ‘out into daylight’
10 Nov 2021
The London Stock Exchange is aiming to make funding for carbon reduction projects more transparent, introducing a new market that it says will help the industry to scale.
Glasgow Conversations: Day 8
9 Nov 2021
On day 8 of COP26, Alastair Thompson attends a Barak Obama talk, a briefing by climate change minister James Shaw, and delves into the important but mind numbingly complicated world of climate finance.
African nations seek talks on $700bn climate finance deal
9 Nov 2021
African nations want Cop26 to open discussions this week on a mega-financing deal that would channel US$700bn every year from 2025 to help developing nations adapt to the climate crisis.
The Warehouse and Westpac NZ Sign $70m sustainability-linked loan
9 Nov 2021
Media Release - The Warehouse Group will have to meet five sustainability performance goals including sustainable packaging, carbon emissions and gender targets to receive discounted rates, under a trailblazing Sustainability-Linked Loan agreed with Westpac NZ.
A $130T climate promise is greeted with suspicion
5 Nov 2021
Political leaders are showering financial titans with praise at global climate talks. But their show of pageantry and back-patting is masking a deeper concern: that the banking industry’s pledges to help fight global warming are vague and unenforceable.
Al Gore warns of a $22 trillion ‘subprime carbon bubble’
4 Nov 2021
Al Gore, the former vice president of the U.S. and the chairman of Generation Investment Management LLP, said the world is witnessing a sustainability revolution and warned that investors caught on the wrong side of history will face losses.
Current carbon market a problem: Mark Carney
4 Nov 2021
The current voluntary carbon offset market is "part of the problem", former governor of the Bank of England and UN Special Envoy on Climate Action and Finance Mark Carney said today at the UN Cop 26 climate summit.
More than $100bn in public investments to be climate friendly
29 Oct 2021
The government has announced a new “responsible investment framework” that will see the more than $100bn managed by Crown Financial Institutions required to be aligned with the goal of carbon neutrality by 2050.
Climate change most significant risk ever faced by financial system: Adrian Orr
27 Oct 2021
CLIMATE CHANGE poses the most significant risk ever confronted by the financial system - both locally and internationally, Reserve Bank governor Adrian Orr told a media briefing yesterday.
Look beyond carbon credits to put a price on nature’s services: experts
5 Oct 2021
Putting a value on nature could be the key to getting the trillions of dollars in investments nature-based solutions need to successfully tackle the climate crisis, experts said at a recent sustainability conference in Singapore.
Stronger NSW 2030 emissions reduction goal signals increased investment opportunity
29 Sep 2021
Media Release - The NSW Government has announced it will halve emissions from 2005 levels by 2030.
Legal experts define a new global crime: ‘ecocide’
27 Sep 2021
A panel of 12 legal experts from around the world have released a proposed definition for a new international crime called “ecocide” covering “severe” and “widespread or long-term environmental damage” that would be prosecuted before the International Criminal Court in the Hague.
KiwiRail obtains climate certified loan for ferries
23 Sep 2021
KiwiRail is the first company in the world to have a shipping loan certified under the Climate Bonds Initiative Framework – despite having come in for criticism for opting for a hybrid diesel system over a bio-methanol one with lower emissions.
Climate change ETFs found to be undermining war on global warming
21 Sep 2021
Climate-focused investment funds are undermining the fight against global warming by routinely engaging in greenwashing, academic research has claimed.
Climate change and price stability mandates at central banks
14 Sep 2021
Traditionally, financial market actors and monetary authorities have considered environmental matters as outside of the scope of monetary policymakers. This stance may change now that central banks are beginning to recognize that climate change could present real threats to price stability.
Investors want climate change information
14 Sep 2021
Media Release - More than four in every five (81%) retail investors think climate related information is important to their investment decision making, with half saying companies have a responsibility to address climate change.
Harmonizing green incentives
10 Sep 2021
Thomas Pogge is an academic philosopher with a practical bent. His idea of a health impact fund was a practical solution to incentivise the development of drugs that would benefit those in poor countries. Now he's proposing a scheme tackle the problems of banks investing in fossil fuels in the developing world.
Five things to know about carbon pricing
3 Sep 2021
The IMF's principal environmental fiscal policy expert, Ian Parry, outlines five things you should know about carbon pricing.
A faster, fairer way to retire carbon-emitting assets
2 Sep 2021
New financial instruments are being designed and brought into the fight against climate change. One such potential instrument is the 'carbon retirement portfolio' (CRP).
Global carbon tax could turbocharge ‘green shorting’
26 Aug 2021
Australia's largest ethical super fund says the opportunity for investors to profit from ‘green shorting’ will grow as global leaders take greater action on climate change, which could act as a catalyst for sliding sharemarket valuations for fossil fuel producers.
Central banks failing on climate action
25 Aug 2021
Released in advance of the Federal Reserve’s annual Jackson Hole meeting, a study assessing twelve of the world’s largest central banks against ten climate-related policy criteria has found all failing to align their lending, asset purchases and regulatory activities with the Paris Agreement target.
KiwiSaver funds slowly divesting from fossil fuels
24 Aug 2021
KiwiSaver funds’ investments in fossil fuel companies fell by $331 million in the six months to March, according to data released by ethical investment charity Mindful Money.
Insurance industry seeks to limit fossil fuel exposure
23 Aug 2021
With global climate change threatening to wreak havoc on their industry, insurance companies are increasingly looking to limit their exposure to the fossil fuel sector.
Climate Change investors group throws weight behind mandatory reporting
19 Aug 2021
The Investor Group on Climate Change – which includes Australian and New Zealand funds with more than $3.2 trillion under management – says the number of investors making climate-related disclosures remains too low and mandatory reporting is required.
Rise of the 'carbon capitalist'
18 Aug 2021
Matthew Roling, an adjunct professor of finance at Wayne State University, argues that carbon markets will become 'the largest commodity markets in history.'
NZ's only climate venture fund makes first investment ...in Australia
5 Aug 2021
Media Release - Climate Venture Capital Fund, New Zealand’s only dedicated climate-change venture capital fund, has made its first investment.
Climate change business conference announced
4 Aug 2021
Media Release - The Sustainable Business Council (SBC) and the Climate Leaders Coalition (CLC) have joined forces with the Environmental Defence Society (EDS) to take the 2021 Climate Change and Business Conference - Now to Net Zero, to a new level.
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.
