A new report from WWF New Zealand, has exposed a more than 700% increase from 2009 to 2013 in NZ Government subsidies to the fossil fuel industry. In 2013, $46mil of our money went to subsidise the oil and gas industry in New Zealand. Many of these companies make billions of dollars of profit a year.
Over the coming months we’ll be asking Superannuation, ACC, our banks, KiwiSaver providers, universities and other institutions to divest. Divestment usually refers to un-investing from stocks, bonds and mutual funds, but giving financial subsidies to the fossil fuel industry is clearly part of the same problem. So the first institution we’re telling to take our money out of fossil fuels is our Government.
1. Write a letter to Energy and Resources Minister Simon Bridges, letting him know that you want him to reverse this trend of increasing $ support to the fossil fuel industry, and over the next 5 years reduce subsidies to zero, switching them instead to renewable energy, a genuine investment in our future.
2. There’s strength in numbers, so join a local group. Groups are popping up around the country to organise creative and clever stunts and actions to draw public and media attention to the Government’s fossil fuel subsidies, and to help organise the wider campaign to divest NZ. Sign up to be emailed details of local meetings or to help start a local group.