Co leader of the Green Party James Shaw announced to the party membership that they want New Zealand to be carbon neutral by 2050.
Shaw announced that, “The Green Infrastructure Fund will be the Kiwibank of the clean economy, kick-starting our transition to a carbon neutral economy. New Zealand needs to jump on board the global response to climate change and get a piece of the economic action, instead of letting it pass us by.”
The fund sets a minimum target rate of return of 7 per cent, an annual emissions reduction goal of one million tonnes of CO2, and generates thousands of new jobs.
The fund will support projects, such as clean energy, efficient buildings, sustainable agriculture, and waste reduction. Besides environmental impacts, these projects can also boost the economy by creating more job opportunities.
An estimated of $10m is needed to set up and a further $100m will be required over the next three years. The fund will be paying for in royalties from oil drilling, as they aim to increase this by 70 per cent levelling with international standards.
“The fund will be one of my personal economic development goals up and running within the first twelve months of the formation of the new government on September the twenty-fourth,” He said.
Zac Exley also addressed the meeting through video link. He is the political consultant to Bernie Sanders’ campaign for the Democratic nomination in the United States last year. Exley witnesses the unfold of Green campaigns all around the world but says the coolest one is definitely New Zealand’s.
“I really hope that it would lead some day to me being able to work on a truly revolutionary campaign and eventually that day came with Bernie Sanders.”