20 June 2022
New Zealand’s Emissions Reduction Plan (May 2022) sets out the pathway for how New Zealand will meet its first emissions budgets (2022-2035) and achieve long-term climate targets.
To help meet this challenge, the Government announced expanded funding of around $650 million for the Government Investment in Decarbonising Industry fund (GIDI).
EECA recognises that private finance is a crucial part of NZ’s decarbonisation transition and has commenced a Private Finance Pilot with financial providers that aims to:
- maximise the reach of GIDI funding available to businesses to help achieve New Zealand’s decarbonisation targets
- improve visibility to GIDI applicants of finance providers that are available, and have expertise, to help NZ businesses decarbonise, and
- mobile the finance sector into mainstreaming sustainable finance and offering competitive rates for decarbonisation projects.
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