Climate change is happening in super fast mode. In order to tackle and manage the problems of climate change the Government of New Zealand has framed a new framework.Under the new framework the Crown Financial Institutions has been invested with new responsibilities to achieve the goal of carbon neutral New Zealand by 2050.
The Finance Minister of NZ said "Climate change is one of the greatest challenges of our time. The CFIs play a crucial role in managing New Zealand’s financial wealth to promote intergenerational equity and we expect our sovereign funds to be leaders in the transition to a low carbon economy,”
Therefore the future decisions of CFIs will be reflected with the Government’s goal of a carbon neutral New Zealand by 2050.These CFIs jointly manage more 100 billion of investments on behalf of New Zealanders.
The government expects that the CFIs will take decisions to include the target of carbon reduction in their portfolios consistent with Government policy and also in accordance with the Paris Agreement and global investment leadership over time. The new framework also provides guidelines to be applied in the case of fossil fuel and its end-use of products.
Through the new framework the government focuses on climate change commitments other aspects of Environmental, Social and Governance factors where Government policy sets the basis of society’s expectations of responsible investment practice.
The Finance Minister of NZ said "Climate change is one of the greatest challenges of our time. The CFIs play a crucial role in managing New Zealand’s financial wealth to promote intergenerational equity and we expect our sovereign funds to be leaders in the transition to a low carbon economy,”
Therefore the future decisions of CFIs will be reflected with the Government’s goal of a carbon neutral New Zealand by 2050.These CFIs jointly manage more 100 billion of investments on behalf of New Zealanders.
The government expects that the CFIs will take decisions to include the target of carbon reduction in their portfolios consistent with Government policy and also in accordance with the Paris Agreement and global investment leadership over time. The new framework also provides guidelines to be applied in the case of fossil fuel and its end-use of products.
Through the new framework the government focuses on climate change commitments other aspects of Environmental, Social and Governance factors where Government policy sets the basis of society’s expectations of responsible investment practice.