Twenty-five of the world’s largest banks – including Bank of America Merrill Lynch, Citi, JPMorgan, Deutsche Bank, Goldman Sachs, HSBC, and Morgan Stanley – recently released the governance framework for a green bond market which is seeing billions of dollars flow into green economic opportunities around the world.
While there are still some concerns with the principles agreed to, the coming together of such a large number of mainstream banks shows real confidence in the future prospects of the green economy.
With the green economy going off overseas, why does National continue to promote an economy built on dirty industries that risk both our environment and our climate? Their $46 million/year subsidy for oil and gas prospecting is a particularly galling example.
The National Government have quietly shelved the recommendations of their own 2011 Green Growth Advisory Group and has ignored the opportunities for green jobs spelt out by the Pure Advantage business group and, most recently by our most prestigious scientific body, the Royal Society.
As the rest of the world invests in a smarter, greener economy, National is holding us back – a country rich with major natural advantages in clean energy, forestry, and agriculture.
After more than five years of keeping the handbrake on the green economy, it’s time to change the government.