Govt’s partner for financing renewable energy projects is being investigated by US Senate committee for its China dealings
Hard on the heels of announcing plans to ease the way for more wind farms, our government announced plans for fast-tracking nine solar power projects and – in today’s news – the launch of a $2 billion fund aimed at making New Zealand one of the first countries in the world to reach 100% renewable electricity.
The fund is being established with the help of an American company, BlackRock, which the Beehive press statement describes as one of the world’s largest investors in climate infrastructure and clean technology.
The government and BlackRock have been working together to create the “first of its kind climate infrastructure fund in New Zealand to unlock investment to support 100% renewable electricity generation”.
This will provide access to greater pools of capital for New Zealand businesses, supporting the creation of highly skilled local jobs
And it will help accelerate green energy options like solar, wind, green hydrogen and battery storage to fuel a low emissions economy.
Prime Minister Chris Hipkins announced “the first of its kind New Zealand net zero Fund” alongside Minister of Energy and Resources Megan Woods and representatives of BlackRock in Auckland today.
Whatever any government does, of course, we can count on someone saying it’s a waste of time, a waste of money, or some such.
Sure enough, in this case the Taxpayers Union was quick to bang out a press statement headed Government Announces Fund That Will Do Nothing to Reduce Net Emissions.
Taxpayers’ Union Campaigns Manager Callum Purves dismissed the initiative as another government corporate welfare slush fund that will cost taxpayers greatly without actually delivering net emission reductions.
“Because emissions are capped under the Emissions Trading Scheme (ETS), any reduction in emissions in the electricity sector will simply free up carbon credits to be used for emissions elsewhere in the economy, such as manufacturing, leading to no net reduction,” he contended.
“If the projects this fund invests in are worthwhile, this investment will occur in the private sector without the need for government involvement. Price signals from the ETS already encourage emissions reductions and investment in technologies where it is most financially viable to do so. This fund simply puts some of this risk on taxpayers rather than leaving it with private businesses who are best placed to make decisions around what investments are financially viable.”
Purves further said it seemed the government had been deliberately unclear about the extent to which taxpayers will be contributing to the fund
“… in order to shy away from how much ordinary New Zealanders will be paying for this climate virtue signal”.
Blackrock could set up this fund without government involvement, he pointed out. It was therefore unclear why taxpayers should be on the hook
“… for a scheme which will likely end up socialising the costs and privatising the benefits of the investments made through the fund.”
Point of Order’s response to the government’s announcement was to check on what else BlackRock has been doing.
Among other things, we found a recent CNN report which says BlackRock, the world’s largest asset manager. and MSCI, one of the biggest providers of index funds, are being investigated by a US Congressional select committee to determine whether they are investing Americans’ savings in Chinese companies blacklisted by the US government for security and human rights issues.
The Select Committee on the Chinese Communist Party of the US House of Representatives sent letters to BlackRock (BLK) CEO Larry Fink and MSCI CEO Henry Fernandez on Monday notifying both parties that it is investigating their investments in certain Chinese companies, according to documents reviewed by CNN.
By sending massive amounts of American money to companies linked to the Chinese military and human right abuses, the letters said, BlackRock and MSCI are “exacerbating an already significant national security threat and undermining American values.”
The Committee said it found that BlackRock had invested more than $429 million across five funds into Chinese companies that “act directly against the interests of the United States.”
They also said that they identified at least 40 companies listed on the MSCI indexes that are designated on governmental red-flag lists.
So what might happen when the committee learns that BlackRock is involved in funding – let’s say – the environmentally friendly energising of New Zealand companies to produce dairy products for export to China?
The government’s announcement can be found on the government’s official website.
NOTE: Point of Order has extended the list back to July 3.
Our reason: on Friday last week, our monitors of what ministers are doing, how they are spending our money, where they are going, and so on, dutifully prepared their Buzz from the Beehive report. Alas, they didn’t complete the critical part of the process that turns a draft into a published article.
Today we hereby include the missing announcements from the government’s …
This will provide access to greater pools of capital for New Zealand businesses, supporting the creation of highly skilled local jobs
And it will help accelerate green energy options like solar, wind, green hydrogen and battery storage to fuel a low emissions economy.
Prime Minister Chris Hipkins announced “the first of its kind New Zealand net zero Fund” alongside Minister of Energy and Resources Megan Woods and representatives of BlackRock in Auckland today.
Whatever any government does, of course, we can count on someone saying it’s a waste of time, a waste of money, or some such.
Sure enough, in this case the Taxpayers Union was quick to bang out a press statement headed Government Announces Fund That Will Do Nothing to Reduce Net Emissions.
Taxpayers’ Union Campaigns Manager Callum Purves dismissed the initiative as another government corporate welfare slush fund that will cost taxpayers greatly without actually delivering net emission reductions.
“Because emissions are capped under the Emissions Trading Scheme (ETS), any reduction in emissions in the electricity sector will simply free up carbon credits to be used for emissions elsewhere in the economy, such as manufacturing, leading to no net reduction,” he contended.
“If the projects this fund invests in are worthwhile, this investment will occur in the private sector without the need for government involvement. Price signals from the ETS already encourage emissions reductions and investment in technologies where it is most financially viable to do so. This fund simply puts some of this risk on taxpayers rather than leaving it with private businesses who are best placed to make decisions around what investments are financially viable.”
Purves further said it seemed the government had been deliberately unclear about the extent to which taxpayers will be contributing to the fund
“… in order to shy away from how much ordinary New Zealanders will be paying for this climate virtue signal”.
Blackrock could set up this fund without government involvement, he pointed out. It was therefore unclear why taxpayers should be on the hook
“… for a scheme which will likely end up socialising the costs and privatising the benefits of the investments made through the fund.”
Point of Order’s response to the government’s announcement was to check on what else BlackRock has been doing.
Among other things, we found a recent CNN report which says BlackRock, the world’s largest asset manager. and MSCI, one of the biggest providers of index funds, are being investigated by a US Congressional select committee to determine whether they are investing Americans’ savings in Chinese companies blacklisted by the US government for security and human rights issues.
The Select Committee on the Chinese Communist Party of the US House of Representatives sent letters to BlackRock (BLK) CEO Larry Fink and MSCI CEO Henry Fernandez on Monday notifying both parties that it is investigating their investments in certain Chinese companies, according to documents reviewed by CNN.
By sending massive amounts of American money to companies linked to the Chinese military and human right abuses, the letters said, BlackRock and MSCI are “exacerbating an already significant national security threat and undermining American values.”
The Committee said it found that BlackRock had invested more than $429 million across five funds into Chinese companies that “act directly against the interests of the United States.”
They also said that they identified at least 40 companies listed on the MSCI indexes that are designated on governmental red-flag lists.
So what might happen when the committee learns that BlackRock is involved in funding – let’s say – the environmentally friendly energising of New Zealand companies to produce dairy products for export to China?
The government’s announcement can be found on the government’s official website.
NOTE: Point of Order has extended the list back to July 3.
Our reason: on Friday last week, our monitors of what ministers are doing, how they are spending our money, where they are going, and so on, dutifully prepared their Buzz from the Beehive report. Alas, they didn’t complete the critical part of the process that turns a draft into a published article.
Today we hereby include the missing announcements from the government’s …
Latest from the Beehive
8 AUGUST 2023
The Government has worked with BlackRock, one of the world’s largest investors in climate infrastructure and clean technology, to launch a $2 billion fund with the goal of making New Zealand one of the first countries in the world to reach 100% renewable electricity.
7 AUGUST 2023
Nine fast-tracked solar power projects could generate two and half times the output of Clyde Dam, with nearly two million solar panels so far referred for consent.
The Government is accelerating New Zealand’s switch to clean renewable energy by fast-track referral of three wind farm projects for approval by consenting panels.
Associate Finance Minister David Parker will represent New Zealand at this week’s Pacific Island Forum (PIF) Economic Ministers Meeting in Suva, Fiji.
Te Whatu Ora hospital nurses and midwives will get another pay jump under the latest pay settlement agreed between the Government and New Zealand Nurses Organisation (NZNO).
Protecting New Zealand’s oceans and supporting innovation in the seafood sector are key priorities for the Fisheries Industry Transformation Plan.
6 AUGUST 2023
Two new three lane road tunnels under the Waitemata Harbour, one going in each direction, and a separate light rail tunnel that will link to the existing Auckland Light Rail corridor is the proposed plan for a second Auckland harbour crossing, Prime Minister Chris Hipkins and Transport Minister David Parker announced today.
4 AUGUST 2023
Housing Minister Hon Dr Megan Woods opened the largest public housing development completed in Rotorua to date today, holding true to the Government’s commitments in the Rotorua Housing Accord.
The Government has released the first two documents of the Defence Policy Review and New Zealand’s first National Security Strategy.
3 AUGUST 2023
The Government is welcoming region-wide support in Hawke’s Bay for the agreement on the costs of buying out Category 3 resident
Associate Minister of Health Peeni Henare has welcomed the report into the progress of Te Aka Whai Ora, published today.
The final transfer of Crown-owned residential red zone land to Christchurch City Council is a major step forward in the city’s post-earthquake regeneration, says Land Information Minister Damien O’Connor.
Health Minister Dr Ayesha Verrall says health data released today shows the Government’s targeted approach to waitlists is making a real difference to Kiwis getting the treatment they need.
When we checked on the announcements that were fresh on the government website last Friday, Point of Order noted that the Government obviously was taking huge satisfaction from its restructuring of the country’s health system.
Associate Health Minister Peeni Henare had welcomed a report into the progress of Te Aka Whai Ora (although he had precious little to be pleased about) and Health Minister Ayesha Verrall was saying new health data showed the Government’s targeted approach to waitlists was making a real difference to Kiwis getting the treatment they need.
The headline on Verrall’s press statement was Govt’s targeted approach delivers more healthcare for Kiwis.
But the massive (and expensive) restructuring operation which prompted Verrall to bray about more healthcare for Kiwis had followed – in recent days – news of a blood-letting:
Te Whatu Ora Health NZ confirms jobs cuts of 300-plus as DHB changes take effect.
Other media reports suggested the health system was is in delicate condition.
For example:
Newshub
New Zealand has experienced one of its worst-ever days of ‘ramping’, where ambulances are forced to sit idle and treat patients on hospital.
Point of Order mused that It was discomforting to learn the same government which had put our health system under the knife had turned its attention to our defence and security services.
Point of Order is a blog focused on politics and the economy run by veteran newspaper reporters Bob Edlin and Ian Templeton
1 comment:
BlackRock is a critical tool of the deep state in bringing big business into the new world order. BlackRock, with about 10 trillion dollars under management, is one of the top stakeholders in virtually every company you can think of, including most of the mega-banks. It is using this influence and your money to weaponize business against our nation, our liberty, our families, and everything that is good.
BlackRock has a shadowy Artificial Intelligence-powered system known as Aladdin that plays a key role in managing tens of trillions of dollars and shaping the global economy. The “risk management tool,” as the corporate Leviathan describes it, is called the Asset, Liability, Debt and Derivative Investment Network. It is considered so powerful and essential that even BlackRock’s leading competitors such as Vanguard and State Street now rely on it, along with major insurers, pension funds, and others with huge amounts of investible funds. What is not known, though, is how it is programmed, potentially putting the global economy at risk of catastrophe as BlackRock works to bring businesses around the world under the control of the Deep State.
BlackRock boss Larry Fink is a leader in multiple key Deep State organizations including the Council on Foreign Relations, the World Economic Forum, and the Trilateral Commission. Fink actually serves on the board of directors of the globalist CFR, Deep State HQ in the United States, and on the board of trustees for the WEF, which is pushing the Great Reset and working to bring business into the New World Order. Alex also explains the significance of these groups.
BlackRock has effectively become the fourth branch of government. Numerous top former government officials who now work for BlackRock, and more than a few top former BlackRock officials now hold very senior positions in the Biden administration. The firm has also been scooping up European politicians and central bankers from around the world. All of these insider connections have given BlackRock and its chief Larry Fink incredible access, with countless critics arguing that this systemic conflict of interest is what has helped turn the company into the “master of the universe” it has become today.
And now it officially reveals itself in NZ.
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