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World Bank to stop funding oil and gas exploration

Written By: - Date published: 6:15 am, December 14th, 2017 - 29 comments
Categories: climate change, disaster, energy, Environment, Mining, peak oil, sustainability - Tags: ,

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Oil Change International Press Release

At One Planet Summit, the World Bank steals the show by phasing out upstream oil and gas finance

PARIS, FRANCE — At the One Planet Summit in Paris, France, the World Bank announced, among other positive steps, that they “will no longer finance upstream oil and gas, after 2019.”

In response to the announcement, Oil Change International released the following statements:

Stephen Kretzmann, Executive Director of Oil Change International, said, “It is hard to overstate the significance of this historic announcement by the World Bank. Environmental, human rights, and development campaigners have been amplifying the voices of frontline communities for decades in calling for an end to World Bank financing of upstream oil and gas projects. Today the World Bank has raised the bar for climate leadership by recognizing the simple yet inconvenient truth that achieving the Paris Agreement’s climate goals requires an end to the expansion of the fossil fuel industry. We congratulate the World Bank, and we look forward to working with them and other partners towards a managed decline of fossil fuel production, and a just, equitable transition to a global clean energy economy. It is time for all of the institutions, countries, investors and individuals who are still in the Paris Agreement to stop funding fossils – once and for all.”

Alex Doukas, Stop Funding Fossils Program Director at Oil Change International, said, “This commitment from the World Bank demonstrates true climate leadership. This sends a clear signal to the world that the fossil fuel era is ending, and that government money can no longer be used to prop up oil, gas, and coal production. Given what we know about the climate crisis, ending fossil fuel finance is simply the rational and moral thing to do. Other finance institutions must now follow the World Bank’s lead and move to stop funding fossils. It is important to note that midstream and downstream oil and gas finance are also major contributors to climate change, and must be addressed to remain within the climate limits established by the Paris Agreement.”

Notes:

  • Despite their climate commitments, many governments and institutions in attendance continue to finance fossil fuels. Public finance institutions controlled by G20 governments, along with multilateral development banks, provided $71.8 billion per year on average in public finance for fossil fuels, and only $18.7 billion on average for clean energy between 2013-2015.
  • The World Bank Group already has a policy in place that restricts support for coal-fired power plants and for thermal coal mining. With the addition of upstream oil and gas to thermal coal mining, this commitment means that the World Bank will no longer finance fossil fuel extraction after 2019, except in extreme cases.
  • According to Oil Change International’s Shift the Subsidies Database, the World Bank Group provided an average of over $1 billion per year in upstream oil and gas finance (for the three years from FY2014 through FY2016).
  • Just prior to the One Planet Summit, over 200 civil society groups demanded a commitment to phase out subsidies and public finance for fossil fuels as soon as possible and no later than 2020, except in extreme cases where there is clearly no other viable option for increasing energy access to the poor.
  • A briefing titled “Dirty Dozen,” released by the Big Shift Global campaign the day before the summit, highlights some examples of the types of destructive fossil fuel projects that public finance continues to prop up.

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From the Guardian:

World Bank to end financial support for oil and gas exploration

Bank announces in Paris it ‘will no longer finance upstream oil and gas’ after 2019 in response to threat posed by climate change.

The Bank ceased lending for coal-fired power stations in 2010 but has been under pressure from lobby groups also to halt the $1bn (£750m) a year it has been lending for oil and gas in developing countries.

The Bank said it saw the need to change the way it was operating in a “rapidly changing world”, adding that it was on course to have 28% of its lending going to climate action by 2020. At present, 1-2% of the Bank’s $280bn portfolio is accounted for by oil and gas projects.

In exceptional circumstances, the Bank said it would consider lending for oil and gas projects in the very poorest countries but only where it helped the poor get access to energy and the project did not conflict with commitments to reduce greenhouse gases made in the 2015 Paris climate change accord.

The Greenpeace International climate campaigner Gyorgy Dallos said: “The end is clearly coming for the oil and gas industry as the pace of change accelerates.”

Dallos said the Bank had sent a damning vote of no confidence in the future of the fossil fuel industry. “The world’s financial institutions now need to take note and decide whether their financing is going to be part of the problem or the solution,” he said.

29 comments on “World Bank to stop funding oil and gas exploration ”

  1. Bill 1

    Still a ways to go then 🙁

    $1 Billion from the $71.8 Billion cited in the post’s link to “Priceofoil.org” sounds like something- even if it does only amount to something not much over 1%.

    But when that $71.8 Billion figure is stacked against an IMF figure of $5.3 Trillion for 2015 that was up from $4.9 Trillion for 2013….

    • adam 1.1

      Here was me thinking it was fake news, and bugger me, you look at the figures, and it is fake news.

      • Bill 1.1.1

        Optimistically misleading? 😉

        Anyway. A further thought that crossed my mind is that the WB is basically in the business of lending to governments. And that governments the WB lends to probably aren’t that heavily (ie – directly) involved in the fossil fuel industry.

        If they’d said they were killing all lending etc as from mid-night tonight And if that had come alongside a statement from the G20 that that they were going to fund Annex 2 countries to the tune of some trillions (not the paltry 100 million Paris threw up) and announced that in tandem with debt forgiveness for the global south (annex 2)….then yeah.

        There might have been reason to say that something genuinely positive and meaningful was on the table.

        But $1 billion being cut in two years time when the yearly increase to subsidies sits around the $500 billion mark is a bit underwhelming.

      • weka 1.1.2

        Are you saying that the announcement is lying about the WB stopping subsidies for upstream oil/gas? Sorry, not following the argument here.

        • adam 1.1.2.1

          It’s a feel good story without much substance.

          In that, if you look at the money and whose funding what – it’s a very nice smoke screen. Like Bill said, it’s a less than 1% drop in investment.

          So I’m not willing to break out the party supplies just yet.

          • marty mars 1.1.2.1.1

            1.4% by the figures bill gave and my rough calculation – how did you get less than 1%?

          • weka 1.1.2.1.2

            So the World Bank *is stopping funding, but you think it’s without substance because it’s not other lenders as well? This is essentially the same argument about why should NZ drop its emissions when it’s such a small country. So by your argument, NZ addressing its emissions is without substance because the US isn’t. That’s daft af.

            Can’t believe I am having to point this out, but the value in the WB doing this is that (a) it sends a strong signal to the organisations and countries within its remit (b) it supports defunding from oil in general (c) it’s part of a whole movement around CC and putting an end to the industry (d) we need the WB to stop along with everyone else.

            We’re approaching a tipping point around divestment. This is good news.

            • Bill 1.1.2.1.2.1

              An ~ $500 billion year on year increase in subsidy equals “approaching a tipping point”?

              One org that (it seems) was barely involved in fossil has said that in two years time it will only fund downstream fossil ventures is “sending a signal”?

              The reason I say “barely involved” is that if all its upstream support added up to $1 billion, it’s nothing in the scheme of things. It’s a small player.

              There is the “brand” recognition, and that is perhaps worth something in the scheme of things. Unfortunately, I imagine that “brand recognition” will be used to sell the idea that something substantial is being done.

              Most people won’t look at the figures and numbers, and will also miss the fact that they are not saying that they will stop lending/funding for fossil. (ie – that they only say they are curtailing upstream funding)

              It’s spin.

      • marty mars 1.1.3

        I dont think you know what fake news is adam if you think this is it. Try wiki.

        • adam 1.1.3.1

          I think fake news is news generated for corporate propaganda purposes, what do you think it is marty mars?

          • marty mars 1.1.3.1.1

            And political purposes too – what is the fake news bit from this story? Seems straight to me or is 1.4% reduction, based on bills figures, not a reduction? Sure it’s not enough but it’s not fake, is it?

          • weka 1.1.3.1.2

            Fake news would be if there was no value in what they were doing and they were spinning it as something it’s not. I can’t see either of those things happening here, but maybe you can make an actual argument here?

      • Bill 1.1.4

        Here’s some unspun truth.

        Running in tandem with that World Bank announcement (same summit) we have (drum roll) the Task Force on Climate-Related Financial Disclosures.

        Under the plan, companies pledge to use their financial reports to disclose their direct and indirect exposure to global warming under a range of different scenarios.

        (because)

        “Markets need the right information to seize the opportunities and mitigate the risks that are being created by the transition to a low-carbon economy,” Carney said. “This solution, of the market and for the market, is truly entering the mainstream.”

        And the risks are?

        …a repeat of the 2008 banking crisis.

    • The imf figure is available subsidies isn’t it? How does that relate to the story of the stopping of funding by the world bank?

      • Bill 1.2.1

        The IMF figure is a calculation of total subsidies. (It’s explained in the link I provided).

        $1 Billion amounts to less than half the amount that NZ subsidises fossil in a year.

        The $71.8 Billion is direct finance and isn’t my figure. It’s the figure provided, in part by the WWF. They are a source I’d be taking with a pinch of salt given that it’s widely accepted they push pro-corporate agendas. (Google WWF controversy for more if you’re interested in the details)

        The WB is redirecting or ending its funding. (Though not, it seems for downstream operations or projects) Good. But perspective and context matters. (To me anyway)

        $1 billion as a percentage of $5.3 trillion is …well, not a lot at all.

        • marty mars 1.2.1.1

          So direct finance does not relate to total subsidies. Apart from the financials for the deals which considers both.

          1 billion isn’t a lot compared to a billion trillion million either but it is a lot compared to zero. 1 billion is now zero according to how I understood the information in the post.

        • weka 1.2.1.2

          “But perspective and context matters. (To me anyway)”

          Me too, but so does supporting change. Hence “the WB is stopping funding, great, and we need others to follow suit and here’s what we need to do next”, vs “the WB is stopping funding, whoopdeshit, drop in the bucket, it’s all propaganda”. The former will engage people and get them to change, the latter is bah humbug. Not saying that is you, but that the general tenor of this subthread comes across like that.

          • Bill 1.2.1.2.1

            Your dichotomy isn’t useful by my way of thinking.

            False hope and/or baseless optimism is poison in my book.

            How many people could read about that WB funding and think things were moving forwards and then disengage or not engage because (they believe) “it’s all being taken care of”?

            What does 1 Billion buy these days? An oil distillery? (I don’t know)

            And if they are still investing or loaning for downstream projects – and I assume they are since they specifically mention ‘up-stream’ – then is it even any kind of disinvestment at all? (I don’t know that either, but the question, surely, ought to be asked)

            edit – I know a distillery is ‘down stream”, but just trying to get a perspective on money to “kit”.

  2. Good move that will send the correct message. Hopefully all the dirty exploitation plans around and on/within our south sea islands will now be stopped FOR GOOD.

  3. Koff 3

    An opportunity for our coalition govt to show some leadership here on cc action and complement the WB initiative. A good start would be to send the “Beast” (Statoil sonar research vessel) packing from Taranaki and stop the open cast mine from going ahead on the SI West Coast. Very little noise on agreed environmental policy yet from the new govt, but maybe got their hands full at the mo.

  4. cleangreen 4

    As a result of this climate change article and others seen recently, we sent our letter to all ministers in Government today. 14/12/17.

    TO; Ministers,

    At the ‘One Planet Climate Change Summit’ this week in Paris 12-15th December 2017.

    NZ is cited as investors in our ‘Superfund’ among big investors pressuring climate polluters.

    NZ Government must now use Rail freight as it will greatly reduce our use and dependence on fossil fuels that cause climate change, and will save our cost of paying for “carbon credits” also.

    http://www.independent.co.uk/environment/arctic-climate-change-report-sea-temperature-rise-melting-ice-caps-polar-environment-global-warming-a8106161.html

    1. Environment
    ‘Arctic climate ‘report card’ reveals ‘rapid and dramatic changes’ to the polar environment.’
    The latest warnings on this link above must be taken seriously now as time is short for saving our planet.

    Please respond to our request for press coverage as government is close to shutting down for two months shortly please.
    Warmest regards,

    http://www.radionz.co.nz/news/business/346052/nz-super-among-big-investors-pressuring-climate-polluters
    Radio New Zealand

    BUSINESS ENVIRONMENT
    13 Dec 2017
    NZ Super among big investors pressuring climate polluters
    7:06 am on 13 December 2017

    Anusha Bradley, Journalist
    @AnushaBradley anusha.bradley@radionz.co.nz
    The New Zealand Superannuation Fund is among a group of powerful investors putting pressure on the world’s biggest polluters to reduce their greenhouse gas emissions.

    Campaigners in Paris urge companies at the summit to phase out fossil fuels. Photo: AFP

    The global campaign, dubbed Climate Action 100 plus, was launched at the One Planet Summit in Paris marking two years since the signing of the Paris Climate Agreement.

    The summit brings together 225 of the world’s largest institutional investors which have more than $US26 trillion invested in 100 of the world’s largest emitters.

    They include ExxonMobil, General Electric, and Rio Tinto.

    Investor Group on Climate Change chief executive Emma Herd said investors were trying to force these companies to clean up their act by engaging with them.

    Abridged – RNZ / Reuters

  5. Maybe if the World bank stopped promoting Debt we could see a real change.
    Any country trying to service those debts is hardly going to turn away oil and gas or any other exploitative industry..all this means is they will now have to set up without World bank backing…though if they do cut these ties I am curious how these countries are going to pay debt without this income flow, though I’m sure the free market neo liberals have some excellent ideas…

    “According to World Bank data, in 2010 alone, developing countries paid out $184 billion on debt service, about three times the annual resources required for the fulfillment of the MDGs. Even more troublesome, between 1985 and 2010 net public debt flows to developing countries, that is the difference between debt inflows and debt payments, have reached -$530 billion |4|. To place this number in context, this is the equivalent of five Marshall Plans.”

    https://www.globalresearch.ca/the-debt-of-developing-countries-the-devastating-impacts-of-imf-world-bank-economic-medicine/5354027

    https://chomsky.info/20070516/

  6. eco maori 6

    Many thanks to the World Bank for sending a clear message to the rest of the World that fossils fuel is going to be a fuel of the past.
    To Dywayne Douglas Johnson The Rock I say go for it someone needs to clean that up and I think your the man for the job it will be a major challenge but I’m sure you will achieve your goals. Kai kaha

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    Democracy ProjectBy bryce.edwards
    5 days ago
  • COVID: Back to Level 1
    After stamping the Coronavirus out via strict lockdown between March and May, New Zealand went through a good three months without any community cases. Then a local outbreak in Auckland rather buggered things up last month. Auckland’s been in level 3 and level 2.5 for the past six weeks. ...
    5 days ago
  • Climate Change: Climate injustice
    Who's causing our skyrocketing emissions? As with most of our other problems, It's the rich: The wealthiest 1% of the world’s population were responsible for the emission of more than twice as much carbon dioxide as the poorer half of the world from 1990 to 2015, according to new ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Good riddance
    The border closure and resulting lack of foreign slave-workers is driving the fishing industry out of business: One fishing company is effectively out of business while others are bracing for large financial hits as the deepwater New Zealand industry, unable to get skilled foreign workers into the country, have ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • 2020 SkS Weekly Climate Change & Global Warming Digest #38
    Story of the Week... Toon of the Week... Coming Soon on SkS... Climate Feedback Claim Review... SkS Week in Review... Poster of the Week... Story of the Week... The tipping points at the heart of the climate crisis Many parts of the Earth’s climate system have been destabilised by ...
    5 days ago
  • Anyone for Collins?
    In the absence of national public opinion polls, we have had to make do in recent weeks with other guides to voter intentions. Those guides, such as the Auckland Central poll, the incidence of google enquiries and the responses to Vote Compass questions, have suggested, not unexpectedly, that Labour is ...
    Bryan GouldBy Bryan Gould
    5 days ago
  • Crusher’s fiscal malfunction
    Crusher Collins - National Party leaderWe all know that the National Party is desperate to gain some traction during this election campaign and have been throwing pretty much everything at the Labour Party in order to try and undermine Jacinda Ardern and what the Coalition Government has achieved. But unfortunately ...
    5 days ago
  • Much of the commentariat’s reporting of the most recent GDP figure was misleading and unhelpful. The prize for the stupidest remark about the GDP figure for second quarter 2020 (2020Q2) released on Thursday (17 Sept) goes to Judith Collins, whose response to Grant Robertson’s comments indicated she did not ...
    PunditBy Brian Easton
    5 days ago
  • Love and Hate as Complementary Revolutionary Acts
    by Gearóid Ó Loingsigh goloing@gmail.com (19/09/2020) Che Guevara said that a true revolutionary is motivated by love i.e. love of the oppressed, the poor, the children dying from preventable illnesses. This phrase of his is true but has been used by reformists and their more hippy wing have taken advantage ...
    RedlineBy Admin
    6 days ago
  • 2020 SkS Weekly Climate Change & Global Warming News Roundup #38
    A chronological listing of news articles linked to on the Skeptical Science Facebook Page during the past week: Sun, Sep 13, 2020 through Sat, Sep 19, 2020 Editor's Choice Get to Net-Zero by Mid-Century? Even Some Global Oil and Gas Giants Think it Can Be Done A report by a ...
    6 days ago
  • Tax cuts for all!!! (except you, you, and you)
    With the National Party this week announcing a new policy of tax cuts to spice up the election campagin. MyThinks went along to the launch and afterwards we spoke to the party’s finance spokesperson Paul “Golden Touch” Goldsmith. MT: Thanks for speaking to us Mr Goldsmith. PG: No. Thank you. ...
    My ThinksBy boonman
    7 days ago
  • Great Waves Washing Over New Zealand
    Always to islanders danger Is what comes over the seas ‘Landfall in Unknown Seas’ (Allen Curnow)Six economic issues external to New Zealand, which will greatly impact upon us. 1.         The Diminishing Global Dominance of the US. Since 1941 America has dominated the world economically and politically. Probably it could ...
    PunditBy Brian Easton
    1 week ago
  • New Zealand has role to play in resolving crisis on ‘geopolitical fault line’, Helen Clark says
    By Geoffrey Miller New Zealand should continue to champion human rights in Belarus amidst an ongoing crackdown on protests by the country’s regime, former Prime Minister Helen Clark says. Protests in the country often referred to as ‘Europe’s last dictatorship’ erupted after the country’s disputed presidential elections on August 9 ...
    Democracy ProjectBy Geoffrey Miller
    1 week ago
  • Euthanasia referendum: How to cut through the emotions
    Jacqui Maguire, registered clinical psychologist This podcast episode highlights how difficult it is to have effective conversations about euthanasia due to how polarised people’s views are. I’m a clinical psychologist, with a passion for science communication. In early 2020 I founded the podcast Mind Brew, with an aim to make psychological ...
    SciBlogsBy Guest Author
    1 week ago
  • Why we need cameras on boats
    In case anyone needed further convincing, there's another example today of why we need cameras on fishing boats: reported seabird bycatch doubled during a camera trial: Commercial fishers operating off Auckland's coast around vulnerable seabirds are twice as likely to report accidentally capturing them when cameras are on ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Graham Adams: The religious right’s campaign to spike the euthanasia referendum
    In the leadup to the euthanasia referendum, an array of conservative Christian political organisations is running an expensive campaign to sow doubt about the safety of assisted dying. Graham Adams argues that these religious forces know that Christian arguments aren’t convincing the public, but that it is in the public ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Opportunistic looting
    The National Party has spent the last six months acting horrified at the cost of supporting people through the pandemic and banging on about how the debt must be repaid. So what was their economic policy released today? Massive tax-cuts for the rich, of course! National has walked back ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Uncomfortable Choices.
    Dangerous Times: This will be the choice confronting those coming of age in the 2020s. Embrace Neoliberalism’s belief in racial and sexual equality; adopt its secular and scientific world view; and cultivate the technocratic, multicultural, global outlook required of those who keep the machinery of hyper-capitalism humming. Or, throw your ...
    1 week ago
  • Tony Burton: Covid and benefit payments
    It would be a great time to reform the benefit system, according to former Deputy Chief Economic Advisor at the Treasury, Tony Burton. He argues the complexity of benefit system means that it’s failing to achieve its difficult three core objectives, which form an “iron triangle”.   New Zealand’s benefit ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Talking tax: How to win support for taxing wealth
    Tax Justice UK, September 2020 Serious tax reform is on the political agenda for the first time in decades due to the coronavirus crisis. As this debate hots up it is important to understand what people think about public spending, wealth and tax. Tax Justice UK, along with Survation and ...
    Closing the GapBy Tracey Sharp
    1 week ago
  • Getting Tough.
    Not Mucking Around: With upwards of 800 dead from the virus’s resurgence in the Australian state of Victoria, leniency is not on Premier Daniel Andrews’ agenda. The Victorian Police are cracking down hard on the protesters the Australian press has labelled "Covidiots".IMAGES OF POLICE, some in riot gear, others on ...
    1 week ago
  • Media Link: Nuclear strategy, then and now.
    Although I had the fortune of being a graduate student of some of the foremost US nuclear strategists of the day (1970s) and later rubbed shoulders with Air Force and Naval officers who were entrusted with parts of the US nuclear arsenal, I seldom get to write or speak about ...
    KiwipoliticoBy Pablo
    1 week ago
  • The Chinese List.
    News that Zhenhua Data, an arm of China Zhenhua Electronics Group, a subsidiary of the military-connected China Electronic Information Industry Group (CETC), maintains a list of 800 New Zealanders on a “Overseas Key Information Database” that contains personal information on more than 2.4 million foreign individuals, has caused some consternation ...
    KiwipoliticoBy Pablo
    1 week ago
  • Things that grow fast, and things that surprise us
    Marie Becdelievre January 2020. The number of news article mentioning coronavirus exploded and anxious voices whispered about a global pandemic. Whisper? To me, it was only a whisper. I tend to learn about the world through non-fiction books, conferences, and academic research rather than news and social media, so ...
    SciBlogsBy Guest Author
    1 week ago
  • Skeptical Science New Research for Week #37, 2020
    2,082,476,000,000,000 Viability of greenhouse gas removal via the artificial addition of volcanic ash to the ocean  (not open access, unfortunately) walks us through the numbers on a particular means of CO2 removal, addition of volcanic tephra to the ocean. The mechanism is straight chemistry and the cost is fully an order of ...
    1 week ago
  • Barbados to become a republic
    Barbados is planning to remove the queen as head of state and become a republic in time for the 55th anniversary of its independence in 2021: Barbados has announced its intention to remove the Queen as its head of state and become a republic by November 2021. [...] Reading ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Party Like It’s 1989: Bait and Switch is a Bad Look, Mr Hipkins
    At the 2017 election, the New Zealand Labour Party promised a Fees Free Policy for tertiary students. Basically, it would make the first year of university education free in 2018, with a second year in 2021, and a third in 2024. It also promised to restore Post-Graduate access to the ...
    1 week ago
  • Will the tropics eventually become uninhabitable?
    Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. If you have a question you’d like an expert to answer, please send it to climate.change@stuff.co.nz What is the impact of temperature increases in the tropics? ...
    SciBlogsBy Guest Author
    1 week ago
  • A first-hand look: What it’s like to live in a 2020 California wildfire evacuation zone
    This is a re-post from Yale Climate Connections by Daisy Simmons It felt like 100 degrees in my in-laws’ Grass Valley, California, kitchen, but at least the lights were on and for the moment we were safely “distanced” from the Jones Fire. We’d just finished dessert, after pizza and a movie ...
    1 week ago
  • COVID-19 is not the only infectious disease New Zealand wants to eliminate, and genome sequencing is...
    Nigel French, Massey University Genome sequencing — the mapping of the genetic sequences of an organism — has helped track the spread of COVID-19 cases in Auckland, but it also plays an important role in the control of other infectious diseases in New Zealand. One example is Mycoplasma bovis, a ...
    SciBlogsBy Guest Author
    2 weeks ago
  • A flaw in our electoral transparency regime
    A key part of our electoral funding regime is a requirement for some transparency around donations, on the basis that if we can find out who has bought our politicians (typically after we have voted for them) then everything is alright. There are a lot of problems with that regime ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Don’t Steal This Book
    On “In Defense of Looting” Matt Taibibi takes an entertaining look at this generation of woke activists and how they compare with Abbie Hoffman the iconic anti-Vietnam war counter-culture figure of the 1960s On Thursday, August 27th, the same day Donald Trump formally accepted the Republican nomination, National Public Radio ...
    RedlineBy Daphna
    2 weeks ago
  • Climate Change: Carbon prices must rise
    When Parliament introduced the Emissions Trading Scheme, it was worried that carbon prices might get too high. So it introduced a "fixed price option", allowing polluters to pay the government $25 in the place of surrendering credits. The result was predictable: after we were thrown out of international carbon markets ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Climate Change: Disclosure
    The government will finally be requiring large New Zealand companies to disclose their climate change risks: New Zealand finance companies will be made to report on climate change risk, Climate Change Minister James Shaw has announced. The policy will force around 200 large financial organisations in New Zealand to ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

  • Minister of Foreign Affairs makes two diplomatic appointments
    Foreign Minister Winston Peters has announced two new diplomatic appointments: •         Michael Appleton as New Zealand’s first resident High Commissioner to Sri Lanka. •        Tredene Dobson as New Zealand’s next Ambassador to Viet Nam.  Sri Lanka “New Zealand is opening a post in Colombo in 2021 because we are ready ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • NZ’s most prestigious conservation award – Loder Cup presented to Graeme Atkins
    The Minister of Conservation Minister, Eugenie Sage, today presented Aotearoa New Zealand’s most prestigious conservation award, the Loder Cup, to the 2020 winner Graeme Atkins while in Gisborne/Tūranga-nui-a-Kiwa. “Graeme Atkins of Ngāti Porou is a Department of Conservation ranger whose contribution to conservation goes well above and beyond his employment,” ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Parliament to install solar and cut carbon
    Parliament is leading by example by taking action to cut its carbon footprint by installing solar and improving energy efficiency, the Minister for Climate Change, James Shaw said today. The Minister confirmed that Parliamentary Services will receive support through the Clean-Powered Public Service Fund to install solar PV and LED ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Tuvalu Language Week theme promotes community resilience in the face of COVID-19
    The Minister for Pacific Peoples, Aupito William Sio says the 2020 Tuvalu Language Week theme of “Fakatili Te Kiloga Fou” which means “Navigating the changing environment” is a call on all Pacific peoples to be strong and resilient in the face of COVID-19. “This theme is a reminder to us ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • International sport back up and running in New Zealand
    The Government is welcoming today’s announcement that the West Indies and Pakistan cricket teams will tour New Zealand this summer.  “A lot of hard work has been undertaken by sports officials including New Zealand Cricket, Netball New Zealand and government officials to ensure that international sport can return safely to ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • 1BT funds for Northland forest taonga
    Northland’s indigenous tree canopy is set to grow for the benefit of mana whenua and the wider community thanks to nearly $2 million in One Billion Trees funding, Forestry Minister Shane Jones announced today. Te Komanga Marae Trust has received more than $1.54 million to restore and enhance the native ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Better health care for West Coasters as Te Nikau Hospital officially opened
    The Government has delivered a new hospital for Greymouth and is starting work on a much needed new health centre in Westport, ensuring local communities will benefit from better access to high quality integrated health services. Today, Prime Minister Jacinda Ardern and Associate Health Minister Peeni Henare officially open Te ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Government backing local with PGF loan
    A West Coast distillery will benefit from a Provincial Growth Fund investment that will enable it to expand its operations and create jobs in the town of Reefton, Rural Communities Minister Damien O’Connor and Regional Economic Development Minister Shane Jones have announced. The Reefton Distilling Co will receive a $928,000 ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Primary sector exports and jobs up again
    Primary sector exports and jobs are up again, demonstrating the sector’s underlying strength amid the COVID-19 global pandemic and US-China trade war, and supporting New Zealand’s economic recovery. Stats NZ today reported New Zealand’s merchandise exports in August were up 8.6% on a year ago, driven by an increase in ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Clean energy future for more schools
    Schools across Aotearoa New Zealand will be supported by the Government to upgrade to run on clean energy, the Minister for Climate Change James Shaw announced today. The Minister has allocated $50 million from the Clean Powered Public Service Fund to replace, or convert, coal boilers in schools with clean ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Building business strength with digital tools
    New training and tools for digital commerce will give small businesses, especially in the tourism sector, the support they need to adapt and innovate in a COVID world. Tourism Minister Kelvin Davis and Small Business Minister Stuart Nash have announced details of how $20 million digital capability funding set aside ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New pest lures to protect nature
    The Department of Conservation (DOC) is investing $1.4 million to develop new predator lures that would be game-changers for trapping and surveillance towards a predator-free Aotearoa, the Minister of Conservation Eugenie Sage, announced in Christchurch today. The proposal is to develop long-life lures attractive to a range of predators—rats, mustelids ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Support for innovative Pacific education responses to COVID-19 needs
    Supporting new and creative Pacific education practices as part of our COVID-19 response and recovery is the focus of a new $28.5 million Pacific Education Innovation Fund announced today by Associate Minister of Education Jenny Salesa.  “There is already an incredible amount of innovative and creative work going on in ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Eligibility expanded for COVID-19 leave support
    The expanded scheme will cover: People who have COVID-19 like symptoms and meet the Ministry of Health’s criteria, and need to self-isolate while awaiting the results of a COVID-19 test. People who are directed to self-isolate by a Medical Officer of Health or their delegate or on advice of their ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Seasonal work visa available to more people
    The Government is putting in place a range of immigration policy changes to help fill labour shortages in key industries while ensuring New Zealanders, who have lost jobs due to COVID-19, have the chance to find new employment. “Two key sectors we are moving to help are horticulture and wine ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • More border exceptions for critical roles
    The Government has established class exceptions for border entry for a limited number of veterinarians, deep sea fishing crew, as well as agricultural and horticultural machinery operators. “Tight border restrictions remain the backbone of the Government’s border strategy to protect New Zealand against COVID-19 and ensure New Zealand citizens and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Crown will not appeal Dodds v Southern Response decision
    The Crown will not appeal the Court of Appeal decision in the Dodds v Southern Response case, Grant Robertson announced today. “Southern Response will be paying the damages awarded by the Court to Mr and Mrs Dodds shortly. The Crown was already meeting their legal costs for this appeal. “The ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Crucial PGF investments for Northland
    The Provincial Growth Fund is investing nearly $30 million in a diverse range of projects that will create immediate and long-term jobs and lift economic and social outcomes for Northland and its people. Deputy Prime Minister Winston Peters and Regional Economic Development Minister Shane Jones made the announcement today in ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • $27million investment in global vaccine facility
    The Coalition Government has committed to invest $27 million in COVID-19 vaccine development through the global COVAX Facility, Foreign Minister Winston Peters announced today. “The COVAX Facility is a key part of our COVID-19 Vaccine Strategy to obtain safe and effective vaccines. It allows us to invest in a high-quality, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government backing Māori landowners
    The Government will provide up to $1.69 million through the One Billion Trees programme to Māori landowners to make their whenua more productive through the planting of forests, both native and exotic, and improve economic and environmental outcomes, Forestry Minister Shane Jones has announced. “Around 1.5 million ha of land ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New tools to make nature more accessible
    People planning to head outdoors now have a resource that lets them know how accessible an area is for people with varying levels of mobility, Minister of Conservation Eugenie Sage announced today. The Halberg Foundation, Sensibel, and the Department of Conservation (DOC) have launched Accessibel, a new tool which helps ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PGF makes Māori history more accessible
    One of the most significant battle sites of the 1860s Land Wars will receive $2.96 million from the Provincial Growth Fund to improve the site and help tell the New Zealand story to visitors, Māori Development Minister Nanaia Mahuta and Regional Economic Development Minister Shane Jones have announced. Nanaia Mahuta ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Making it official: The journey of te reo Māori | Kia whakapūmautia: Ngā piki me ngā heke o te r...
    The journey towards recognising Māori as an official language and taonga has been captured as a web series and launched today during Te Wiki o te Reo Māori, announced Associate Arts, Culture and Heritage Minister Carmel Sepuloni. “Te reo Māori is a living language, and understanding its significance, and pathways to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Better-than-forecast GDP reflects decision to protect New Zealand
    Today’s better-than-forecast GDP figures show the expected impact of the decision to act quickly to protect New Zealanders from the global COVID-19 pandemic. GDP fell 12.2% in the June quarter from March, reflecting decisions to close New Zealand’s borders and enter Alert Level 4. “This result was better than the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Boost for COVID-19 related Pacific education needs
    The Government is investing $39.7 Million over four years to support the educational needs of Pacific learners and families in the regions hardest hit by COVID-19, with Auckland getting an immediate boost, Associate Minister of Education Jenny Salesa says.   “Like all New Zealanders Pacific families want learners to do well ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More resources for kiwi conservation
    New Zealand’s goal of 100,000 kiwi by 2030 is being helped by an extra $19.7 million in funding to accelerate iwi and community efforts to protect kiwi, Minister of Conservation Eugenie Sage announced. “$19.7 million of Jobs for Nature funding is being invested in kiwi conservation activities including increased predator ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Improving access to affordable electricity
    Ensuring New Zealanders can get the best deal on their electricity takes a step in the right direction today with the South Island launch of the EnergyMate pilot run by the Electricity Retailers’ Association, says Minister of Energy and Resources, Dr Megan Woods. EnergyMate is an industry-led programme providing coaching ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government achieves 50 percent women on state boards
    Minister for Women Julie Anne Genter announced today that the Government has reached its target of 50 percent on women on state sector board and committees – setting a new record level of women on state sector boards. “This Government is committed to having more women in leadership roles - ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Record transport investment to help economic recovery and save lives
    Transport Minister Phil Twyford released today the final Government Policy Statement on land transport (GPS) 2021 which outlines the planned $48 billion investment in services and infrastructure over the next decade. “The final GPS supports our Government’s five-point plan for economic recovery by confirming our record investments in transport infrastructure ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Advancing clean energy technology
    Three ambitious and cutting-edge research programmes that will lift New Zealand’s advanced energy technology research capability over seven years, have been supported by Government today, says Research, Science and Innovation Minister Megan Woods. The projects will each receive a share of $40.7 million investment from the Strategic Science Investment Fund. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Major milestone reached in Pike River Re-entry
    The critical area for forensic examination known as Pit Bottom in Stone has been reached in what is a major milestone for the Pike River re-entry project, Minister Responsible for Pike River Re-entry Andrew Little announced. “The infrastructure located in Pit Bottom in Stone is of very significant interest in ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Economic recovery guides Govt response to retirement income policy review
    The Government is working on how New Zealand’s retirement income policies and settings can best support Kiwis in light of the COVID-19 economic recovery, with the help of the Retirement Commissioner’s latest review, Commerce and Consumer Affairs Minister Kris Faafoi said. “The Retirement Commissioner’s three-yearly review into New Zealand’s retirement ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Iwi community hub opens in Murupara
    A new digital hub and development centre in Murupara will be instrumental in growing the region’s productivity, said Under-Secretary for Regional Economic Development Fletcher Tabuteau at the official opening of two community initiatives today. “I’m pleased to be here celebrating a significant milestone for two projects set to make a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PREFU shows economy doing better than forecast
    PREFU shows economy doing better than forecast Unemployment to peak at 7.8%, down from 9.8% forecast in the Budget Year-to-June accounts show tax revenue, debt and OBEGAL better than forecast Global forecast downgraded as COVID-19 second waves and uncertainty grows Balanced plan to support critical public services, manage debt and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Spruce-up for Ōtaki community facilities
    The Kāpiti Coast town of Ōtaki will receive $1.4 million in Government funding for two projects providing scores of jobs for locals while improving community facilities, Regional Economic Development Minister Shane Jones has announced. The Māoriland Charitable Trust will receive a $900,000 Provincial Growth Fund (PGF) grant to upgrade the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PGF funding for Jobs for Nature programme
    The Provincial Growth Fund will provide $11.88 million to fund fencing and waterway projects nationwide that will improve the environment and create jobs in their communities, Regional Economic Development Minister Shane Jones has announced. “These projects will create more than 100 jobs nationwide with work starting within the next couple ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Procurement to promote jobs, Māori and Pasifika businesses and sustainability
    As part of the COVID-19 recovery, the Government has strengthened its procurement rules to ensure its annual $42 billion spend creates more jobs, uses more sustainable construction practices and results in better outcomes for Māori and Pasifika, Government Ministers announced today.   Economic Development Minister Phil Twyford says the $42 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Timaru’s Theatre Royal to be upgraded and new heritage facility built
    The Government is supporting a major upgrade of Timaru’s iconic Theatre Royal and the construction of a new connected Heritage Facility museum and exhibition space with $11.6 million from the Government’s Infrastructure Fund, Jacinda Ardern announced today. “We heard the call from the community and the council. The Theatre Royal ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • District Court judge appointed
    Chrissy Montague (formerly Armstrong), barrister of Auckland has been appointed as a District Court Judge with Family Court jurisdiction to be based in Wellington, Attorney-General David Parker announced today. Ms Montague commenced practice in Auckland in 1987 and went into general practice dealing with Wills, Estates, Trusts, Conveyancing, Relationship Property ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Approval given to Commercial Film and Video Production Proposal
      A Proposal to provide for the development and operation of commercial film and video production facilities in areas of Christchurch has been given the go ahead. Hon Poto Williams, Associate Minister for Greater Christchurch Regeneration, has approved the Proposal, which was prepared and submitted by Regenerate Christchurch. Minister Williams ...
    BeehiveBy beehive.govt.nz
    2 weeks ago