You'd be hard pressed to find two issues that will define this generation more than climate change and the enormous effects of a global pandemic. While unwelcome, both also present an economic opportunity for New Zealand that we have a responsibility, and a mandate, to seize. More than that, Covid-19has made clear just how interconnected health, economic, and social issues are in our society.
Through strong, responsible fiscal management over many years, New Zealand was in a good place to face the economic impacts of Covid. We had strong foundations to build on. When faced with challenging economic times you can do two things — aim to return to where you were or aim to build back better. We are taking the second option as you will have seen through our work last term and through the policies we've proposed for our second term.
We are committed to ACC continuing to divest investments in fossil fuels, we are on track but must push harder towards our sustainable energy goals and, as is evident through the Wellbeing Budget, we are placing increased importance on social and environmental factors.
This report, detailing how New Zealand's financial system could change from one focused on short-term financial wealth creation to one which supports long-term social, environmental and economic prosperity, is timely and welcome.
Obviously I haven't had the opportunity to digest the contents and recommendations but I am fully committed to continuing to work alongside business this term and I have no doubt that this will be a topic of discussion.
As we have often said, we are also committed to building a stronger, fairer economy through our investments in productivity, sustainability and people.
Success will rely on Government and industry working together. We have a strong vision for New Zealand and we cannot achieve this alone.
We must keep working together in order to ensure the county we leave for our children and grandchildren gives them the strong, positive future we all want for them and that they deserve.
