BlackRock unveils new climate infrastructure strategy for New Zealand to unlock NZ$2bn for energy transition and nature

The US-based financial giant has described the strategy as “country-led”. It has been created to help New Zealand’s Government in achieving its environmental goals including a 100% renewable electricity mix by 2030 and its commitments under the UN Biodiversity Treaty.

At present, New Zealand’s electricity mix is around 83% renewable. The nation estimates that getting it to 100% will require billions of dollars – with more to be spent on grid upgrades and energy storage than on power generation.

Target investment areas for the new BlackRock strategy include wind, solar, energy storage and grid infrastructure.

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