The Angel Association welcomes the establishment of a $100m government fund to back ventures looking to ameliorate climate change.
Climate Change Minister James Shaw has launched an investment fund to help finance “low emissions” businesses.
The fund will take the form of a company established by Treasury – New Zealand Green Investment Finance Ltd – so will operate independently of the Government and look to make a profit.
This makes it slightly different to the $3 billion Provincial Growth Fund.
The Government has committed to injecting $100 million into NZ Green Investment Finance Ltd to get it going.
Shaw expects the return the company will eventually make will mean it can repay the Government and see it stand on its own commercial footing.
“More and more investment dollars are looking for clean, sustainable ventures to invest in,” he says.
“Establishing this fund positions New Zealand to attract its share of that investment capital.”