{"id":1919,"date":"2016-09-08T00:00:00","date_gmt":"2016-09-07T12:00:00","guid":{"rendered":"http:\/\/www.greenpeace.org\/new-zealand\/press-release\/russel-norman-to-acc-dont-invest-in-ruataniwha-dam\/"},"modified":"2024-07-12T15:19:15","modified_gmt":"2024-07-12T03:19:15","slug":"russel-norman-to-acc-dont-invest-in-ruataniwha-dam","status":"publish","type":"post","link":"https:\/\/www.greenpeace.org\/aotearoa\/press-release\/russel-norman-to-acc-dont-invest-in-ruataniwha-dam\/","title":{"rendered":"Russel Norman to ACC: don’t invest in Ruataniwha Dam"},"content":{"rendered":"

Greenpeace NZ Executive Director Russel Norman has written to ACC Investment Manager Nicholas Bagnall, warning him against investing in the controversial Ruataniwha Dam.<\/p>\n

\u201cBy investing in the dam, you risk leaving a legacy of freshwater pollution that will impact generations to come,\u201d said Dr Norman in the letter.<\/p>\n

\u201cIn light of the recent gastro illness outbreak in Havelock North, it would be wrong for ACC to step in and enable this project to proceed.\u201d<\/p>\n

ACC is tipped as the dam\u2019s institutional investor, without which the billion dollar think-big scheme isn\u2019t viable.<\/p>\n

\u201cIf ACC puts money into the scheme, that means every New Zealander who drives a car or receives a pay cheque will be forced to prop up a highly controversial industrial irrigation project that doesn\u2019t add up environmentally or financially,\u201d said Russel Norman.<\/p>\n

He said the Ruataniwha Dam would intensify agriculture – particularly dairy farming – in Hawke\u2019s Bay. \u201cLocal waterways in the region are already polluted and under pressure. The dam will compound these problems. We cannot risk a repeat of what\u2019s just happened in Havelock North.\u201d<\/p>\n

All indications were the dam was a poor investment decision. \u201cCosts have skyrocketed, key investors have walked away and economists are calling it a \u2018lemon\u2019 that should be abandoned. <\/p>\n

\u201cCertainly it makes no sense for an organisation dedicated to returning New Zealanders to good health to invest in something that puts public health at risk. Nor is it consistent with the fiduciary duty of the ACC Board.\u201d<\/p>\n

Over 40,000 people have signed a petition<\/a> calling for no Government funding of industrial irrigation schemes. (1)<\/p>\n

To read the full letter from Russel Norman to Nicholas Bagnall go to click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Greenpeace NZ Executive Director Russel Norman has written to ACC Investment Manager Nicholas Bagnall, warning him against investing in the controversial Ruataniwha Dam.<\/p>\n","protected":false},"author":1,"featured_media":2034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_planet4_optimize_post_is_variant":false,"_planet4_optimize_experiment_name":"","_planet4_optimize_variant_name":"","ep_exclude_from_search":false,"p4_og_title":"","p4_og_description":"","p4_og_image":"","p4_og_image_id":"","p4_seo_canonical_url":"","p4_campaign_name":"","p4_local_project":"","p4_basket_name":"","p4_department":"","footnotes":""},"categories":[10],"tags":[22,21],"p4-page-type":[7],"class_list":["post-1919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-greenpeace","tag-freshwater","tag-freedom","p4-page-type-press-release"],"yoast_head":"\nRussel Norman to ACC: don't invest in Ruataniwha 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