Green bonds set to help finance green economy

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.

5 Comments Posted

  1. Can’t say as I disagree dbuckley, but one cannot do it without trying to do it, so we really do have to do that… try. At the moment I foresee a large government effort to encourage progress in Christchurch, maybe even as large as should have happened in the first 8-10 months after the quake. Just a wee bit delayed, a large distraction effort with respect to the rag we wave around in front of our embassies, and a lot of spin about things that this government cannot take credit for but will.

    The press has dutifully managed to fail to report well about the Forex scandals or the corruption of the banking sector, so Key should be safe from any indictments… would be safe anyway in all probability given the time since his participation in the Forex market.

    Meh. New Zealand will continue to trudge along with its burden of idiots who think he’s doing a fine job even though they disagree with what he does… (asset sales, TPP… ) and the economy gets more specialized, fragile and dependent on foreign money every year. What’s not to like?

    However, I WOULD like to start pushing some strong rebuttals back at the misrepresentations of the Green Party as a bunch of nutters. These are coming out of the PM’s piehole every time he opens it these days and they are simply accepted by the press WITH NO GREEN SPOKESPERSON ASKED TO RESPOND TO THEM.

    If he said any of it to my face I’d give him the same back or better… but we seem to be relegated to just taking it, and IF he gets to say things like that and the press simply accepts them, they stick. Who do you blame when that happens?

    Just like the facebook nutter who thinks about us in terms of “funny money” another Key-ism which stuck, in spite of the fact that we understand just how funny the money is that we are using already, as well as the reasons why it shouldn’t be used that way.

    One has to step on the lies firmly and promptly, and understanding which part of what is being said is false is a pretty tough trick with an accomplished prevaricator, a smiling assassin, like our PM.

  2. It is well past time to change the government…

    Well, it didn’t work last time, and I’m still convinced it wont work this time either 🙁

  3. It is well past time to change the government and I think we’ve finished paying for the lack of pragmatism of our more distant past. We have to consider what investments make sense as green investments and what make sense as protection against more severe adaption scenarios that are more likely than not now.


    Facebook trolls again. I don’t think they get to see what I say here, and I don’t as a rule care to log in to facebook to answer them. It is a bogus medium full of fake people. I may make an exception this time. Just as soon as I find my facebook login from 2 years ago and get my password changed :-p

    Where does he think his money comes from now?

  4. Privately owned banks issue funny money everyday. A very profitable activity for shareholders but not for our economy.

    If our NZ Govt issued more of that money and regulated to constrain private bakers from stripping out the country’s wealth, then we would indeed be much better off providing the new money was secured in infrastructure and social programmes, and not used for tax reduction for the wealthy who consume and create waste at a rate many times that of the poor.

    Of course if you are against funny money then banking activity should all be transferred to the state.

    Private bankers are the funny money cartel. They issue over 95% of new money in NZ out of thin air.

    Changing the 95%+ versus the < 5% balance is a good place to start.

    Hear the right wing profiteers scream.

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