🏒 New Zealand Green Investment Finance Limited

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	New Zealand Green Investment Finance Limited was a Crown-owned company that was defined as a Public Finance Act Schedule 4A Company. Its establishment date is based on the date it was incorporated, 12 April 2019.

                    [custom2] => 
    
	
  1. 
		New Zealand Green Investment Finance Limited website, https://nzgif.co.nz/ (accessed 19 September 2019).
    2. 
	
  2. 
		The Treasury website, https://treasury.govt.nz/ (accessed 19 September 2019).
    3. 
	
  3. 
		New Zealand Legislation website (Parliamentary Counsel Office), http://www.legislation.govt.nz/ (accessed 19 September 2019).
    4. 
	
  4. 
		Companies Register online, New Zealand Companies Office (Ministry of Business, Innovation and Employment), https://companies-register.companiesoffice.govt.nz/ (accessed 19 September 2019).
    5. 


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	Establishment



	New Zealand Green Investment Finance Limited (NZGIF) was a Crown-owned limited liability company incorporated under the Companies Act 1993 on 12 April 2019. It was a green investment bank established with the purpose of accelerating investment to lower greenhouse gas emissions activities in New Zealand, with an initial capital of NZ$100 million.2



	As part of Budget 2018, the Government announced its intention to establish a Green Investment Fund. The establishment of NZGIF was part of the Government’s commitment to address climate change and support New Zealand’s transition towards a net-zero-emissions economy by 2050. It was part of a suite of policy initiatives that included:


    
	
  • 
		passing a Zero Carbon Act;
    • 
	
  • 
		amending New Zealand’s emissions trading scheme;
    • 
	
  • 
		establishing an independent Climate Change Commission;
    • 
	
  • 
		continuing New Zealand’s international efforts to ensure the integrity of the Paris Agreement3 (an agreement within the United Nations Framework Convention on Climate Change - UNFCCC - signed by the Government on 22 April 2016, coming into force on 4 November 2016).
    • 




	Functions and Responsibilities



	The mission of NZGIF was to accelerate investment in projects that reduced domestic greenhouse gas emissions.



	Its objects were:


    
	
  • 
		to make investments that lowered emissions;
    • 
	
  • 
		to make investments on a commercial basis;
    • 
	
  • 
		crowd-in private finance; and
    • 
	
  • 
		to undertake a market leadership role.
    • 




	Structure



	NZGIF was headed by a Chief Executive Officer. Other key management positions were the Chief Investment Officer, Chief Operating Officer, and the Head of Government Relations and Communications.4



	Footnotes:


    
	
  1. 
		Companies Register online, New Zealand Companies Office (Ministry of Business, Innovation and Employment), https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/7402256 (accessed 19 September 2019).
    2. 
	
  2. 
		Home, New Zealand Green Investment Finance Limited website, https://nzgif.co.nz/ (accessed 19 September 2019).
    3. 
	
  3. 
		Commercial Portfolio and Advice - Green InvestmentFinance/New Zealand Green Investment Finance Ltd, The Treasury website, https://treasury.govt.nz/information-and-services/commercial-portfolio-and-advice/new-zealand-green-investment-finance (accessed 19 September 2019).
    4. 
	
  4. 
		Latest News, New Zealand Green Investment Finance Limited website, https://nzgif.co.nz/latest-new (accessed 19 September 2019).
    5. 


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Agency

AGVY

2019 ‑ 

Central government

Public Finance Act 1989

New Zealand Green Investment Finance Limited was a Crown-owned company established for the pupose of accelerating investment to lower greenhouse gas emissions activities in New Zealand.

Wellington

Show History

Establishment

New Zealand Green Investment Finance Limited (NZGIF) was a Crown-owned limited liability company incorporated under the Companies Act 1993 on 12 April 2019. It was a green investment bank established with the purpose of accelerating investment to lower greenhouse gas emissions activities in New Zealand, with an initial capital of NZ$100 million.2

As part of Budget 2018, the Government announced its intention to establish a Green Investment Fund. The establishment of NZGIF was part of the Government’s commitment to address climate change and support New Zealand’s transition towards a net-zero-emissions economy by 2050. It was part of a suite of policy initiatives that included:

  • passing a Zero Carbon Act;
  • amending New Zealand’s emissions trading scheme;
  • establishing an independent Climate Change Commission;
  • continuing New Zealand’s international efforts to ensure the integrity of the Paris Agreement3 (an agreement within the United Nations Framework Convention on Climate Change - UNFCCC - signed by the Government on 22 April 2016, coming into force on 4 November 2016).

Functions and Responsibilities

The mission of NZGIF was to accelerate investment in projects that reduced domestic greenhouse gas emissions.

Its objects were:

  • to make investments that lowered emissions;
  • to make investments on a commercial basis;
  • crowd-in private finance; and
  • to undertake a market leadership role.

Structure

NZGIF was headed by a Chief Executive Officer. Other key management positions were the Chief Investment Officer, Chief Operating Officer, and the Head of Government Relations and Communications.4

Footnotes:

  1. Companies Register online, New Zealand Companies Office (Ministry of Business, Innovation and Employment), https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/7402256 (accessed 19 September 2019).
  2. Home, New Zealand Green Investment Finance Limited website, https://nzgif.co.nz/ (accessed 19 September 2019).
  3. Commercial Portfolio and Advice - Green InvestmentFinance/New Zealand Green Investment Finance Ltd, The Treasury website, https://treasury.govt.nz/information-and-services/commercial-portfolio-and-advice/new-zealand-green-investment-finance (accessed 19 September 2019).
  4. Latest News, New Zealand Green Investment Finance Limited website, https://nzgif.co.nz/latest-new (accessed 19 September 2019).

New Zealand Green Investment Finance Limited was a Crown-owned company that was defined as a Public Finance Act Schedule 4A Company. Its establishment date is based on the date it was incorporated, 12 April 2019.


  1. New Zealand Green Investment Finance Limited website, https://nzgif.co.nz/ (accessed 19 September 2019).
  2. The Treasury website, https://treasury.govt.nz/ (accessed 19 September 2019).
  3. New Zealand Legislation website (Parliamentary Counsel Office), http://www.legislation.govt.nz/ (accessed 19 September 2019).
  4. Companies Register online, New Zealand Companies Office (Ministry of Business, Innovation and Employment), https://companies-register.companiesoffice.govt.nz/ (accessed 19 September 2019).




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