Wellington’s port will get $15 million to go towards cutting emissions, as part of the Green Investment Finance’s first payout.
Launched in December 2018, the $100 million fund was at the time was touted as a "central plank in the Government’s plan to transition to a clean, green, carbon-neutral New Zealand".
Over a year later, the Government said today's $15 million boost to the Wellington CentrePort will go towards electrifying vehicles, generating renewable energy and upgrading energy efficiency.
Climate Change Minister James Shaw said the project at the port was "exactly the type of innovative approach we need in order to meet our climate targets and leave behind a safer planet for our children and grandchildren".
"It shows how business and government can work together to towards solving the problems that matter most to people, like the climate crisis," he said.
When asked about the long time period between the fund's announcement and the first project funded, Mr Shaw responded with - "good things take time".
"It’s really important we set a rod for our own back for that. What we’re trying to do here is to galvanise not just public finance but private finance as well. It had to get set up on commercial grounds.
"You can expect more investment announcements in 2020."
On if it would be before the election, Mr Shaw said that was up to the "fund itself".
National’s environment spokesperson Scott Simpson said that "barely anything has actually been invested in creating jobs or enhancing the environment".
"Despite there being no tangible investment from the fund until now, taxpayers’ money has still been spent with absolutely no return for the past two years."
National Party leader Todd Muller questioned the Prime Minister two days ago on whether she expected the fund to have made an investment by then.
"Stay tuned," Jacinda Ardern said at the time.
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