Green Party launches plan to get NZ carbon neutral by 2050

The Green Party has launched its election year conference with a policy designed to get back to its environmental roots, a climate change fund paid for by taxing oil companies.

The party wants to establish a clean energy investment fund, started with profits from companies that extract fossil fuels. Source: 1 NEWS

After a week of squabbling with NZ First leader Winston Peters, the party is attempting to get its campaign back on track and deliver a pitch to the environmentally conscious youth vote.

Co-leader James Shaw has announced plans for a infrastructure fund to kick start the 'Green' economy and help New Zealand become carbon neutral by 2050.

It will be funded by increasing royalties paid by oil companies from 46 to 70 per cent.

Mr Shaw called it the 'Kiwibank' of the clean economy which will use 'billions' to fund clean energy, efficient buildings, sustainable agriculture and waste reduction schemes.

The fund will cost $10 million to establish and have access to an initial line of credit of $100 million.

Mr Shaw started his speech with a rallying call on global warming, referencing the enormous iceberg which has just shorn away from Antarctica's Larsen C iceshelf.

He says emissions have risen under National and that's a "stark betrayal" of younger generations.

"We will not be deterred by denial it's or cynics or those who mutter silky words about what's realistic or too radical," he said.

Tomorrow co-leader Metiria Turei will unveil the party's 'Families Package' with a heavy emphasis on lifting beneficiaries out of poverty, not penalising them.