The successful delivery of our climate goals depends on ensuring finance flows are consistent with the plan’s low-emission, climate-resilient priorities.
The challenge is not simply finding new capital but funneling existing capital into climate positive and sustainable outcomes.
For Auckland Council, this means ensuring that the primary funding mechanisms and approaches outlined within our long-term plans and annual plans are aligned with the action areas set out within the climate action plan. Find out more about Auckland Council’s funding and financing.
We need to ensure financial capital is directed towards meeting our climate ambitions requires action across the whole finance sector, from funders and investors through to regulators and financial intermediaries.
Work to shift the finance system in Aotearoa New Zealand is currently underway through the Aotearoa Circle Sustainable Finance Forum.
The cross-sector nature of the climate plan means that a broad range of funding and financing instruments are available and will need to be used.
Innovation in these areas will be critical to delivering our climate objectives.
Greening of existing instruments, such as sustainability-linked loans and green bonds Fixed-income financial instruments that have positive environmental and/or climate benefits., will need to be delivered.
Concepts, such as blended finance where private and public capital are combined to broaden funding risks and leverage different financial sources, will need to be integrated within funding and financing options.
One new instrument we will be exploring through the delivery of the plan is the potential for a voluntary ecosystem marketplace to generate funding for natural climate solutions.
People and businesses want to feel like they are contributing to climate mitigation The action of reducing the severity, harm and seriousness of climate change through emissions reduction. They are increasingly investing in natural climate solutions through voluntary carbon markets, to achieve net greenhouse gas reductions they can’t otherwise eliminate until they can transition to new technologies.
To help with this, we envisage an accessible mechanism for the average person and small business to contribute to climate-positive projects. We will take appropriate steps to investigate and develop a voluntary ecosystem marketplace for Auckland.
