CLIMATE CHANGE FUNDING
CLIMATE CHANGE PLANS AND CLIMATE CHANGE FUNDING
Climate Change - Business Response Plans
As countries and governments commit to becoming carbon neutral the transition will require many businesses to change how they operate. New business models will be required to enable firms to move from high to low carbon operations. Companies are facing growing pressure to disclose the risks and opportunities that climate change presents, as well as the strategies they are using to respond to them. The pressure to disclose, and to act, can come from government emissions targets, shareholders, regulators, consumers and financial institutions.
We can help you, and your team, brainstorm. draft and communicate your business response, or low carbon transition plans, including:
We can help you, and your team, brainstorm. draft and communicate your business response, or low carbon transition plans, including:
- Developing climate change and low carbon goals and targets for your business
- Creating the action plans, budgets and timeframes required to achieve your objectives
- Communicating your climate change plans to your team, management and stakeholders
- Identifying funding opportunities for reducing GHG emissions
Our templates reference the Task Force on Climate Related Financial Disclosures (TCFD) definitions of climate risk. This categorises climate-related risks into physical risks and transition risks. Our templates also reference the External Reporting Board (XRB) framework being developed for climate governance and risk management disclosures – “Aotearoa New Zealand Climate Standard 1: Climate-related Disclosures (NZ CS 1)”. Referencing the frameworks provided by these bodies will help ensure your plan is compliant with national and international best practice.
Green Investment Finance
New Zealand Green Investment Finance is an investment bank "established with the purpose of accelerating investment to enable New Zealand’s low carbon future. Investment Approach. "Working with private capital markets and co-investors, NZGIF ’s purpose is to accelerate the flow of capital to investment that can enable New Zealand's decarbonisation. NZGIF has two main approaches to accelerating investment in the market: direct investment, and the creation of products and programmes to attract additional flows of capital. We are looking for scalable companies, technologies and products that are commercial-ready and offer low carbon benefits for New Zealand". Budget 2023 provided an additional $300 million in new money for the Green Investment Finance bank.
Green Finance Accelerator (GFA)
NZGIF has “launched a new initiative, the NZGIF Green Finance Accelerator (GFA), to accelerate growth amongst small to medium-sized businesses (SMEs) with a focus on decarbonisation. Small businesses can access Pipeline Finance or Asset Finance through the NZGIF Green Finance Accelerator (GFA). The GFA is aimed at SMEs and offers lending of up to $5 million and terms of up to two years for pipeline (working capital) finance or up to five years for asset finance".
Target Sectors for Investment. "We are currently considering opportunities that benefit New Zealand's decarbonisation in the following sectors. This includes opportunities that result in direct emissions reductions (eg. replacing fossil-fuelled cars with electric vehicles), and opportunities that enable or support decarbonisation (e.g. electric vehicle charging infrastructure). We will consider opportunities outside our target sectors where there are potential carbon savings or significant other co-benefits attached to the proposed investment".
- Agriculture
- Distributed Energy Resources.
- Energy Efficiency
- Process Heat
- Transport
NZ CleanTech Mission
Headed by Callaghan Innovation the New Zealand CleanTech Mission aim is to support High-tech businesses create “products to help solve climate change and other environmental problems; products to reduce greenhouse gas emissions in areas such as alternative foods, alternative fuels and energy storage”; and supporting a “whole-of-system view of innovation bringing together factors such as policy, infrastructure and technology to deliver transformative positive impacts for the environment”.
ACC Climate Change Impact Fund
ACC have "announced it will be launching a $50 million climate change impact investment fund in the third quarter of 2021”. ACC advise "Impact investing focuses on investing in companies that intend to create social or environmental change with a financial return". “ACC believes there are opportunities to expand our impact fund portfolio by investing in innovative initiatives that reduce carbon emissions while providing a strong investment return that helps New Zealanders pay less in levies for accident cover,” Board investment Committee Chair James Miller says. “The fund will align with ACC’s Climate Change Framework and the objectives of our investment fund. We plan on formally launching the fund later this year and will seek investments that produce superior risk-adjusted returns and make a measurable impact in reducing CO2 emissions and/or CO2 equivalents." “The climate change impact investment fund could be increased to $100 million if sufficient commercial opportunities arise and we are open to partnering and co-investing.”
Ministry of Primary Industries – Climate Change Research
MPI advise they have funds "to support and enhance our natural resources, like water and soil, to encourage research and innovation in areas such as climate change. MPI funds and participates in climate change research and development projects. These programmes aim to understand climate change and how it affects farming systems, livestock management, crops, horticulture, and forestry. We're also interested in the impacts of climate change and how primary producers can adapt to a changing climate. The main areas for research are:
- Improving the accuracy of our national greenhouse gas inventory and reporting.
- Understanding more about how greenhouse gases are produced and how they can be reduced.
- The impacts of climate change and supporting adaptation to its effects.
- International research into finding ways to grow more food without growing greenhouse gas emissions, through the Global Research Alliance.
Climate change-related funding programmes are:
- Adverse Events support programme
- Erosion Control Funding Programme (ECFP) for the Gisborne district
- Extension services programme for farmers
- Funding the AgMatters.nz website
- Greenhouse gas inventory research fund
- Hill Country Erosion Programme for councils
- Māori Agribusiness Extension programme
- One Billion Trees Programme
- Primary Industry Advisory Services”
The Government Investment in Decarbonising Industry (GIDI) Fund - Closed in October 2023
Some elements of the GIDI fund closed to new applicants in October 2023. These include:
GIDI Infrastructure (Electricity & Biomass)GIDI IndustrialGIDI Commercial BuildingsClean Tech Hot Water Heat PumpsClean Tech Commercial LightingClean Tech Electric Motor Systems
Sources; GIDI, MPI, New Zealand Government, Ministry for the Envrironment. Green Investment Finance Website, TCFD, NZ XRB.
Useful Links - New Zealand Climate Change Agencies
External Reporting Board - Climate Related Disclosures (NZ)Lawyers for Climate Action
Ministry for the Environment - Climate Change webpage
New Zealand Sea Rise Programme
NZ CleanTech MissionNew Zealand Climate Change CommissionNZ Productiivty Commisson Low Emissions Economy ReportCool-Safe - Helps collect and destroy NZ's synthetic refrigerant gases
Centre for Climate Action on Agricultural Emissions
Useful Links - International Climate Change Organisations
Task Force on Climate-related Financial Disclosures
The Intergovernmental Panel on Climate Change, IPCC.The Sustainable Business Network
The Paris Climate Agreement
This page was updated on 26 March 2024
