Response and Recovery Fund an opportunity to invest in a sustainable future

14 May 2020
SOURCE:
Sustainable Business Council

The Sustainable Business Council (SBC) welcomes the government’s announcement of a $50 billion COVID-19 Response and Recovery Fund in today’s Budget.

Executive Director Mike Burrell says SBC looks forward to working with the Government and other businesses to ensure as much of the Covid-19 recovery package as possible is invested in future-focused projects.

"This is our chance to identify infrastructure and large-scale investments that are truly sustainable. Bringing forward long-term investments will accelerate the pathway towards our zero-carbon targets.

"We cannot work on this in isolation. A partnership between government and private enterprise is critical to reimagining and building a sustainable future for New Zealand.

"Like everyone, we want to see that this investment is fiscally responsible and is not wasted. The three fundamental strands that underpin this are an enduring economic recovery, broad-based growth, and accelerated progress towards zero-carbon through careful investment."

Mr Burrell says New Zealand should build off the bipartisanship of the Zero Carbon Act and look for actions and projects that can attract cross-party support.

"Collaboratively we can develop a series of projects, policies, partnerships and R&D that will ensure we kick-start the actions required for the first decade (2020-2030) on the road to zero-carbon by 2050."

He says these actions will cover the main emissions areas of transport, energy, industrial heat, waste and agriculture.

"Now, more than ever, we have an opportunity for New Zealand Inc to position ourselves towards a sustainable, zero-carbon future. Let’s take it."

In addition, Mr Burrell says a $1.1 billion investment allocated in the Budget to create 11,000 environment jobs will support generations to come.