The New Zealand government has announced a groundbreaking $2 billion climate infrastructure fund aimed at achieving 100% renewable electricity, in partnership with BlackRock. Prime Minister Chris Hipkins emphasized the investment's potential to boost New Zealand's economy and attract renewable energy development. With current renewable energy at 83%, the fund will support projects in wind, solar, and other clean technologies, positioning New Zealand as a global leader in climate infrastructure.

1. NEW ZEALAND ANNOUNCES
$2 BILLION CLIMATE
INFRASTRUCTURE FUND
Nikolai Kalininskii

2. The New Zealand government has
announced a “first-of-its-kind” $2 billion
climate infrastructure fund aimed at
making the country the first in the world
to achieve 100 percent renewable
electricity. The fund will be launched in
partnership with investment company
BlackRock, marking the company’s
largest single-nation decarbonization
investment to date.

3. Prime Minister Chris Hipkins expressed
excitement over securing this world-
leading investment, stating that it will
benefit New Zealand businesses and
position the country as a hub for
renewable tech expertise. The goal is to
attract renewable energy intellectual
property development to New Zealand.

4. The recent EU trade deal
incorporates climate obligations,
and Hipkins believes New
Zealand’s climate leadership
presents significant opportunities
for the country’s economy.

5. Energy Minister Megan Woods noted
that New Zealand, with its ambition and
leadership in energy transition, has
created an environment conducive to
developing more renewable energy
projects.

6. Head of BlackRock Australasia, Andrew
Landman, highlighted New Zealand’s
innovative capabilities in clean tech, stating
that the level of innovation is greater in New
Zealand compared to other countries.

7. According to BlackRock Asia-Pacific head of climate infrastructure Charlie
Reid, reaching global net-zero emissions by 2050 will require a $200 trillion
investment. New Zealand is currently at 83 percent renewables and will need
approximately $42 billion of capital to achieve the 100 percent renewable
target

8. The climate infrastructure fund will provide capital for New
Zealand businesses to develop various climate solutions such
as wind, solar, batteries, EV charging, green hydrogen, and
natural capital. Reid described the investment opportunity as
once-in-a-generation, emphasizing New Zealand’s leadership
in climate infrastructure globally. He also praised New
Zealand’s spirit of innovation and ease of doing business.

9. Thank You