12. JEANETTE FITZSIMONS (Co-Leader—Green) Link to this
to the Minister of Finance
What fiscal, economic, and other initiatives is he considering to implement the Prime Minister’s vision that “New Zealand aim to be the first country which is truly sustainable” and “carbon neutral”?
Hon Dr MICHAEL CULLEN (Minister of Finance) Link to this
The Government has a wide range of initiatives under way and under consideration in this area. For example, a bill currently before the House makes use of economic incentives to promote sustainability, and the Government is working with the member on the issue of greater use of solar water heaters.
Jeanette Fitzsimons Link to this
How seriously can we take a Government commitment to making New Zealand sustainable, while the Superannuation Fund continues to invest in the climate change deniers at Exxon Mobil and in uranium mining for the nuclear industry, and if the Superannuation Fund is about protecting our future, is it not time that our money was invested only in companies not dedicated to undermining our future?
Hon Dr MICHAEL CULLEN Link to this
First of all, the Government does not directly control investments by the Superannuation Fund, nor should it. If that were ever under consideration, the best thing to do would be to wind up the fund and use the money to pay off debt; that would be a far better solution. Secondly, the investment in uranium mining is actually investment in two mining companies, both of which are subject to controls in terms of involvement in the nuclear armaments industry.
R Doug WoolertonWhat is the estimated cost of implementing the Prime Minister’s vision of a carbon-neutral New Zealand?
Hon Dr MICHAEL CULLEN Link to this
It would be impossible to arrive at an estimate, but it is worth noting that the Stern report tells us that the long-term costs of taking no action are probably greater than the long-term costs of taking action.