Labour Government to Deliver Key Election Policy to Help Companies Shift towards Clean Energy
By: Ashwathy Nair
- Key election policy to be delivered to help the business to switch from fossil fuels to clean energy.
- Provides much needed financial support to the business to assist to clean energy sources.
- Implementation of these projects to demonstrate to industry across New Zealand.
A key election is being delivered by the Labour Government in order to help the business to turn itself from fossil fuels such as coal and gas to clean energy. The process will heat while accelerating COVID’s economic recovery.
The $70 million funds would enable businesses and industries to access financial support to move towards cleaner electricity and biomass options from boiler operating on coal and gas.
Prime Minister Jacinda Ardern stated that “For our climate and our recovery, the reduction of greenhouse gas emissions from process heat is a win-win”.
“While demonstrating our commitment to future-proofing our recovery, the $70 million funds will be building up jobs and improving the economy”.
“In order to assist with the often expensive transition of plant and equipment towards clean energy sources, it delivers the business with much needed financial support”.
“As a priority for decarbonizing our economy, the Interim Climate Change Commission has recommended attention towards the reduction of emissions from process heat.
I also set out that the new government’s goals are the economic recovery from COVID and in order to tackle climate change. This fund will be generating jobs while reducing emissions and is the exact form of wits that will enable us to build back from COVID in a better form”, said Jacinda Ardern.
The Energy Minister, Megan Woods stated, “The process heat makes up around a quarter of New Zealand’s energy-related emissions and in the coming year, this fund will be crucial towards the reduction of those emissions”.
The new fund will be aiming towards promoting the uptake of electrification and other technologies by New Zealand’s largest energy consumers, which will significantly reduce pollution from this sector and build employment in clean energy.
The investment fund will be administered by the (EECA) Energy Efficiency and Conservation Authority, which are available to businesses that are based on New Zealand. It will establish a commitment to decarbonizing, and where Government co-investment will be facilitating to remove barriers towards accelerating their low-carbon goals.
“We are required to implement these projects immediately by New Zealand businesses, not only to receive the benefits of greater economic activity or lower greenhouse gas emissions but also to demonstrate to industries that there are proven viable solutions to their clean energy requirements across New Zealand.”
