The World is witnessing a historic, global shift in the way we power our homes our businesses and our economies.
Climate change is here. How we respond is the only question that remains.
In America, President Obama recently signaled “We will respond to the threat of climate change…[we] cannot resist this transition…we must claim its promise. That is how we will maintain our economic vitality.”
This report demonstrates the huge wealth that can be created for New Zealand by building an economy based on 100% renewable energy, energy efficiency and sustainable transport.
If New Zealand fails to grasp these economic opportunities, the failure will be recorded in
New Zealand history as the key turning point towards our economic decline.
Help spark the Energy Revolution
In 2011 the world invested US$280 billion in renewable energy.
the global market for clean technologies is valued at more than FIVE trillion dollars.
Green Energy creates 4x MORE jobs THAN oil
50% of all New Zealand jobs rely on our clean green reputation.
Investment New Zealand estimates we can create $150 Billion high-value, low-carbon export economy by 2025.
70% of our export revenue is directly attributable to NZ's clean green reputation, worth $36.7 Billion to our economy each year.
Price Waterhouse Cooper stated that, should we choose it, New Zealand's share of the global market for clean technologies is estimated at up to $22 Billion per year.
A cleaner, smarter economy will bring us future prosperity. Pollution will decrease and our Global clean green reputation will be strengthened. Our energy supply and economy will be improved and huge local job opportunities will be gained.
NZ's Carbon Dioxide emissions from all energy use in 2050 (million Tonnes)
Annual oil imports for road transport by 2035 (Million Barrels)
"We need to discover what works for us, what gives us global advantage. Find out what is best in our society and nurture it." - Sir Paul Callaghan
When it comes to the expertise required to succeed in the clean energy economy, New Zealand is already ahead of the pack, the mindset required is a perfect match for our cultural DNA and our abundant natural resources.
As a Nation we know we are good at innovation; creating in our garden shed and taking products to the world. We are a people who innovate, solve and succeed in overcoming challenges. Investment New Zealand says we have Sixty of the world’s leading clean economy companies innovating, developing and commercializing clean technologies and climate change solutions right here, right now in New Zealand.
Investments in clean energy technologies resisted the global financial crisis better than any other sector, because the principle drivers that propelled those investments were still at work – climate change, energy security, and fossil fuel depletion (UNEP, 2009).
Already 70% of all of our electricity needs are met by renewable sources. The world’s largest geothermal turbine is in the ground at Kauwerau and generating electricity right now.
Countries around the world are turning to New Zealand for our geothermal engineering expertise.
Investment in clean technology yields 4 times more jobs than investment in Oil and yields better-paid jobs. While jobs in the fossil fuel economy were lost during the financial crisis, job growth in the green economy remained strong.
If we can realise the promise outlined in this report, New Zealand will enjoy;
- $150 billion high-value, low-carbon export economy by 2025
- Create tens of thousands of new jobs across the clean energy sector
- 100% renewable electricity
- Improved energy independence and security
- Added value to our clean green reputation, safeguarding income from primary industry exports and international tourism.
Where New Zealand falls down is in leadership. The countries whose governments are proactively driving this transition to clean up their economies are realizing the greatest growth benefits and opportunities. Soon New Zealand will be left behind and miss our rightful place on the wave.
We need progressive and committed leadership from our government. Many of our businesses are doing their best to seize new clean tech opportunities, but they are hampered by perverse policy settings and a lack of government commitment. Conventional economic and political thinking in New Zealand is bound by doctrine on one hand, and a crisis of confidence on the other.
It is useful to understand the mix of policies, besides direct investment, these governments are putting in place to enable this green growth.
- Carbon pricing
- Direct financial incentives for clean technology
- Energy efficiency incentives
- Efficiency standards for buildings and products
- Pollution reduction targets
Businesses cannot bring about this kind of leverage on their own. Government needs to be the first mover. Many of our global strategic partners have set up similar banks and earmarked multi-billion dollar investments in clean energy in order to deliver the benefits that transitioning to a clean economy will bring.
The bank’s priority will be to finance a new low-carbon infrastructure for New Zealand. The Green bank would;
- In partnership with the private sector, structure the financing of major projects.
- Provide initial capital or guarantees
- Create green investment bonds
- Broker innovative financial solutions
- Help realise the clean economy promise
The world’s financial markets have woken up to the fact that climate change is here and there is money to made in the response; the clean economy is experiencing a global boom. New Zealand is a natural fit to take advantage of these economic changes, and in doing so, we will enjoy unprecedented economic prosperity, safeguard our clean green Nation for future generations and be a clarion call to the whole World, the future is here - new jobs, new prosperity and a new clean economy.
Read the full report
Greenpeace commissioned economic modeling from one of the world’s leading energy market analysts at the Institute of Thermodynamics of the German Aerospace Centre (DLR) to develop a pathway towards achieving 100% renewable energy by 2050.
download the modeling