{"id":72311,"date":"2025-07-24T12:49:27","date_gmt":"2025-07-24T00:49:27","guid":{"rendered":"https:\/\/www.greenpeace.org\/aotearoa\/?p=72311"},"modified":"2025-07-28T16:07:28","modified_gmt":"2025-07-28T04:07:28","slug":"greenpeace-submission-on-the-overseas-investment-amendment-bill","status":"publish","type":"post","link":"https:\/\/www.greenpeace.org\/aotearoa\/publication\/greenpeace-submission-on-the-overseas-investment-amendment-bill\/","title":{"rendered":"Greenpeace submission on the Overseas Investment Amendment Bill"},"content":{"rendered":"\n
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Download full submission (PDF)<\/a><\/div>\n<\/div>\n\n

Introduction<\/h1>\n\n

We thank the Select Committee for the opportunity to submit on the Overseas Investment (National Interest Test and Other Matters) Amendment Bill (the Bill).<\/p>\n\n

As an environmental organisation committed to protecting Aotearoa New Zealand\u2019s land, water, biodiversity, and ecosystems, Greenpeace Aotearoa strongly opposes this Amendment Bill and recommends it be rejected in its entirety.<\/p>\n\n

The proposed Bill significantly weakens existing safeguards on the sale of ecologically and culturally sensitive land in Aotearoa, including conservation land, offshore islands, lakebeds, coastal and marine areas and w\u0101hi tapu sites. <\/p>\n\n

The Bill removes the requirement that the sale or investment in sensitive land must undergo a \u2018Benefit to New Zealand Test\u2019 which requires foreign investment to demonstrate clear benefits to New Zealand, including environmental protection, public access, and heritage preservation. <\/p>\n\n

The Bill also removes the requirement that foreign investments involving water bottling and extraction have to meet a test that ensures that New Zealanders can continue to access sufficient and clean water. Furthermore the Bill removes requirements for appropriate environmental conditions to be placed on multinational forestry companies to manage the impacts of large-scale plantation forestry on the environment and on local communities.<\/p>\n\n

We are deeply concerned to see the Government considering a Bill proposed by the ACT party that attempts to entirely remove these critical environmental and cultural protections for New Zealand\u2019s most valuable and sensitive lands from the Overseas Investment Act<\/p>\n\n

We are also deeply concerned that the Government is considering a Bill that would remove the mandatory requirement to verify whether a multinational corporation seeking to purchase sensitive land in Aotearoa has a history of significant criminal activity in other jurisdictions, including breaking environmental or cultural protection laws.<\/p>\n\n

These are basic protections within the Act that ensure multinational corporations cannot unrestrainedly exploit Aotearoa for private offshore profits with little regard for New Zealanders’ wellbeing or the wellbeing of the environment that we cherish and that sustains us.<\/p>\n\n

Sensitive land, as outlined in Schedule 1 of the current <\/strong>Overseas Investment Act (the Act)<\/strong> includes public conservation areas, lake beds, marine and coastal zones, offshore islands, w\u0101hi tapu, M\u0101ori reservations, other culturally significant sites, as well as land adjoining these areas. <\/p>\n\n

The Act defines this land as sensitive precisely because it represents some of Aotearoa New Zealand’s most vulnerable ecosystems, and irreplaceable natural cultural heritage. <\/p>\n\n

However, if enacted, the Bill will severely curtail the ability of the Government to refuse the sale of sensitive land to multinational corporations that have flouted environmental laws in other jurisdictions or to impose meaningful environmental and cultural conditions on it\u2019s sale.<\/p>\n\n

According to the Regulatory Impact Statement for this Bill, New Zealand already has a less restrictive overseas investment regime than both Canada and Australia. <\/p>\n\n

Clauses 8 to 13 of this Bill are particularly harmful along with the change to the Purpose of the Act and we strongly oppose these clauses, as follows:<\/p>\n\n