Energy Resources Aotearoa Welcomes End of GIDI Fund in New Zealand

The ending of New Zealand's Government Investment in Decarbonising Industry (GIDI) fund has been welcomed by Energy Resources Aotearoa, the country's peak energy advocacy group.

John Carnegie, the organisation's Chief Executive, has said the fund's removal will restore confidence in the country's emissions trading scheme, and allow it to do its job without interference.

Previous subsidies for low emissions projects, he argued, had simply freed up emissions units, moving the problem around rather than reducing overall emissions.

The fund's removal is therefore a positive step towards a cheaper, more effective approach to net emissions reductions, creating a level playing field for businesses into the bargain.