Genter Julie Anne: Climate Change (New Zealand Superannuation Fund) Bill — First Reading 
Text is incorporated into the Bound Volume 
Genter Julie Anne: Climate Change (New Zealand Superannuation Fund) Bill — First Reading 
[Sitting date: 05 December 2012. Volume:686;Page:7216. Text is incorporated into the Bound Volume.] 
JULIE ANNE GENTER (Green) 
: 
 Tena koe Mr Speaker. It is a great pleasure to speak on this excellent member’s bill the Climate Change (New Zealand Superannuation Fund) Bill introduced by my colleague Dr Russel Norman. Climate change is as we all know the greatest challenge facing human well-being. That is our well-being. That is the well-being of New Zealand families and of New Zealand businesses as well as the well-being of people across the world. Climate change is real. We know it is caused by certain activities that humans have engaged in just over the past few centuries.  
Bloomberg Businessweek 
—not well-known for its extreme environmentalism—had on its cover page the week after Hurricane Sandy: “It’s Global Warming Stupid.” It is not a left-wing conspiracy. It is a well-understood result of digging up millions of years of stored fossil energy and burning it in a short period of time. 
We in the Green Party live in the real world unlike the Government members. We understand that the world is changing and we understand that we have to deal with this change. Climate change is not only a challenge; it is also an opportunity. It is an opportunity to do things smarter and this bill is a good example of doing things smarter. As we heard from my colleague this bill is going to in a very small way support investment in clean industries which are the growth industries of this century by directing the New Zealand Superannuation Fund to consider environmental sustainability and climate change when making its investments. But it is not only that that is the right thing to do if we want to preserve human well-being; it is also a smarter financial bet. If you accept that climate change is real then it is obvious that humans are going to have to do something about it and that sooner or later fossil fuel industries will be in decline. It is clean industries that will replace them. It makes more sense if one is investing for the long term for the future to put our money in those industries that are going to be successful in our lifetimes. 
Hon Steven Joyce 
: If the member is right of course it will happen. 
JULIE ANNE GENTER 
: I know that the member the Hon Steven Joyce does not live in the real world and is not really aware of what is happening. The thing is that climate change is arguably the biggest market failure. Because markets can only consider short-term profitability it is the role of Governments—democratically elected Governments—to step in and give some long-term playing rules rules of engagement so that we can make smarter investments. Smarter investments will allow us to thrive in the future and are actually not only better for the planet but better for humans better for our economic activity and better for those who are going to be drawing down from the New Zealand Superannuation Fund in the future. 
According to the Government we cannot afford to prepare for climate change. We cannot afford to take the steps through rational economic instruments like a meaningful price on carbon which would help our economy transition to a smart green footing. But the reality is that we cannot afford not to prepare for climate change. It is the reality. It does not matter whether there are a number of developing countries that have not yet signed up to reduction targets because the reality is that New Zealand’s per capita emissions are the fifth worst in the world. If we are going to survive and thrive in the clean green economy of the future we need to start taking steps now and that requires Government leadership. Unfortunately we do not see any leadership of this sort from the Government. We see just a denial of reality and a continuation of the same failed policies of the last century which will not help us to be successful in the future. It is a real shame that the Government is not going to support what is actually quite a logical bill introduced by my colleague tonight. I am really sorry to see that. I commend this bill to the House. Thank you.