NZGIF being ‘wound down’

The Government says the New Zealand Green Investment Finance (NZGIF) will stop making new investments and will wind down its existing portfolio.

“Almost $400 million has been invested with very limited results and there are more than 20 other government funds operating with similar objectives to the NZGIF,” says Climate Change Minister Simon Watts.

“Alongside this, the market for low emission investments has grown, there are more funding and financing products, and we have a more robust Emissions Trading Scheme, reducing the need for government involvement,” he says.

“We will prioritise actions that have the greatest impact on emissions and growth and will provide real value for money,” says Watts, adding that in the current economic environment New Zealanders want assurance that taxpayer money is being well spent and delivering results.

“We believe NZGIF is no longer aligned to that vision.”

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