NEW ZEALAND: Government to wind down Green Investment Finance

The Government has announced the New Zealand Green Investment Finance (NZGIF) will stop making new investments and will wind down its existing portfolio, Climate Change Minister Simon Watts says.

“Almost $400 million has been invested with very limited results and there are more than 20 other government funds operating with similar objectives to the NZGIF,” Mr Watts says.

“Alongside this, the market for low emission investments has grown, there are more funding and financing products, and we have a more robust Emissions Trading Scheme, reducing the need for government involvement.

“This Government is serious about climate change, that’s why we have committed to doubling renewable energy, investing in technology to lower emissions while boosting productivity, and cutting barriers to green investment.

“We will prioritise actions that have the greatest impact on emissions and growth and will provide real value for money. In the current economic environment New Zealanders want assurance that taxpayer money is being well spent and delivering results. We believe NZGIF is no longer aligned to that vision.”

The transition will be carried out in a structured and responsible manner, ensuring that all stakeholders are kept informed.

Within 90 days NZGIF will develop a plan for Ministers outlining how changes at the company will be implemented.

4 October 2024

UK: Small business tax evasion costing HMRC billions as ‘significant gaps’ persist

Small business tax evasion is costing the state billions of pounds of revenue a year as “significant gaps” in the UK’s tax authority’s strategies persist, a new report has revealed. A National

Read More
7 March 2025

ST KITTS: IMF Recognizes Enhanced Sustainability Of St. Kitts And Nevis’ Citizenship By Investment Program

Basseterre, St. Kitts — The International Monetary Fund (IMF), in its 2025 Article IV Mission report, has acknowledged the enhanced sustainability of the St. Kitts- Nevis Citizenship by Investment

Read More
11 October 2024

US: Trump vows to eliminate US income taxes on Americans abroad

His pledge could simplify the tax obligations for US citizens who live overseas. Americans, regardless of where they live in the world, have to file tax information with the Internal Revenue Service

Read More
22 January 2024

EU: Proposed EU anti-money laundering law will step up checks and balances

A provisional agreement on a new anti-money laundering law that will step up checks and balances across multiple sectors, including cryptocurrency, while also giving journalists access to a beneficial

Read More