Green finance to get $300m Govt funding boost

An additional $300 million will be allocated from Budget 2023 (May 18) to support emission reduction projects through New Zealand Green Investment Finance (NZGIF).

That brings the pool of capital to $700m for the publicly- funded venture, making it one of the largest direct investors in New Zealand focused on climate change.

Since its establishment in 2019, the fund has helped with a range of climate innovation projects including EV charging infrastructure, electric buses and solar power in schools.

Recently, it signed a $50 million financing deal with Australasia’s largest bus transport operator Kinetic to help rollout more electric buses and associated infrastructure throughout New Zealand.

In announcing the funding boost, climate change minister James Shaw says it will help accelerate the uptake of low-emissions technologies across the country and help create new jobs.

Read more at TransportTalk.