NZ to join Coalition of Finance Ministers to promote climate action

It was formed in April this year, in recognition that meeting climate goals require not only environmental policies but also ‘climate-fiscal’ policies like considering climate change in annual national budgets.

Finance Minister Grant Robertson has announced New Zealand will join the Coalition of Finance Ministers for Climate Action while attending APEC meetings in Chile.

The objective of the 39 member Coalition is to share information and promote action to tackle climate change.

It was formed in April this year, in recognition that meeting climate goals require not only environmental policies but also 'climate-fiscal' policies like considering climate change in annual national budgets.

"New Zealand is delighted to be joining the Coalition. We welcome the opportunity to take on the challenges of reforming fiscal policy and the financial system to address the impacts of climate change," Grant Robertson says.

"We are already putting this into action in New Zealand with this year's Wellbeing Budget expanding the range of measures by which we assess our success as a Government, including in the areas of environmental and climate change policy.

"Our Government also has an ambitious domestic policy programme to promote climate action and is taking specific steps that advance the objectives of the coalition.

"They include the Zero Carbon Bill, which proposes a 2050 emissions reduction goal in line with the Paris Agreement, establishing an independent Climate Commission to advise on the transition and the setting up of NZ Green Investment Finance Ltd to accelerate low emissions investment in New Zealand," Grant Robertson says.

(With Inputs from New Zealand Government Press Release)