Despite ACT failing to pass three earlier versions of the Regulatory Standards bill, they have succeeded passing it into law today, due to the backing of NZ First and the National Party.

“With one vote, Winston Peters has undermined his and NZ First’s entire legacy,” says Greenpeace campaigner Gen Toop. “Today, he helped pass a law that sells Aotearoa and its people out to foreign corporations to use and abuse.”

The new Regulatory Standards Act creates an unprecedented expectation that the Crown compensates corporations if environmental or public interest laws impact their property rights. It also creates a set of controversial “principles” which lawmakers must follow.

Greenpeace warns that this will open the door to multinational corporations demanding payouts for laws that protect Aotearoa’s drinking water, wildlife, and environment.

“The Regulatory Standards Act is a corporate bill of rights, designed to ensure that from now on the Government will be forced to serve corporate interests instead of people, nature, and Te Tiriti o Waitangi,” says Toop

“Clean drinking water, safe food and a liveable climate should never be made subservient to the so-called property rights of corporations. 

“But, thanks to NZ First, from today multinational corporations will expect New Zealanders to hand over their taxpayer money whenever the government takes even the most basic steps to protect workers, people or the environment,” says Toop. 

The bill was highly controversial, attracting 159,000 submissions, with over 98% opposed to it. It was also condemned by several government agencies, with the Ministry for the Environment issuing a stark warning: 

 “We consider that core aspects conflict with the fundamental principles of the environmental management system, posing risks to the health, safety, economic, social, and environmental interests of current and future New Zealanders.”

“David Seymour might have got his dangerous corporates-first law passed today but civil society in Aotearoa is not going anywhere. We are undeterred and we will continue to defend nature and Aotearoa from corporate exploitation,” says Toop.

During the reading of the bill into law the Labour Party restated their commitment to repeal the Regulatory Standards Act in the first 100 days of a Labour-led government.