Shane Jones: Resources Minister on NZ First's bill that aims to stop environmentally informed bank service withdrawals

The Resource Minister is pushing back on criticism of his party's bill, which aims to stop 'woke', environmentally informed bank service withdrawals.  

A Massey University banking expert says the bill doesn't account for the commercial risks of lending to groups such as mining companies.  

Resource Minister Shane Jones told Mike Hosking banks have to assess credit worthiness, but the current situation is problematic.  

He asks when it became the banks’ job to ascertain the emissions problem of each cow, and how often businesses should be shut down by these luxury beliefs. 

Jones says Massey University banking experts are disciples of woke-ism. 

NZ First has faith they have the backing to support their bill if it gets pulled from the biscuit tin. 

Jones says they have the support in two ways. 

Firstly, through his ability to gut the energy settings for New Zealand's power sector, and secondly through his belief Labour has realised they went too far when it comes to climate hysteria. 

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Episode Transcript

Speaker 1 (00:00):
New Zealand first moving forward on their banking bill that

(00:02):
will prevent banks from refusing services based on social or
environmental grounds. This is the banked law trouble doesn't needs
to be pulled to move forward. The Resources Minister Shane
Jones is back with us on that's very good morning
to you.

Speaker 2 (00:14):
Hey morning folks.

Speaker 1 (00:15):
I didn't realize that it didn't have government support. Do
you have government support of it got pulled?

Speaker 2 (00:22):
You may recall the Finance Minister said if the bill
is pulled, and they will certainly look at it. But
I think there's probably a growing level of support that
we're going to get out of our own way. Mate.
This bill is premised on and understanding that New Zealand
is currently burdened by a whole bunch of regulations and

(00:43):
headwake costs from previous administrations. A particularly offensive part that
at which the banks actually comes from the climate reporting
obligations imposed in twenty twenty two, and this week bill
as an attempt to free the banks from those obligations. Because,
as Charlie Buffet's sidekick said, show me the incentive and

(01:03):
I'll show you the outcome and the incentive of all
these climate reporting obligations has actually driven the banks into
this work territory.

Speaker 1 (01:10):
Chris Luxon on this program last week agreed with you wholeheartedly,
but doesn't seem to be in favor of law. Can
he do it just by jaw boning the banks out
of it or do you think you need law now?

Speaker 2 (01:22):
The power of the New Zealand based banks is in Australia.
The Australians do not have this regime. This was the
conceit of the their in covenment, believing that they could
outsource the responsibility of stopping China building them by the
Cold Fark power station by imposing costs and banks who
are passing them on to farmers and miners. So we've

(01:43):
got to deal with this ideological bump fluff and if
we don't, we're condemned to bear these headway costs driven
under the cover of climate. And the country just part
reported mate.

Speaker 1 (01:52):
This is true. Having said that, the counter argument apparently,
and Claire Matthews was on from the University this morning,
they say it's not about climate, it's about de l
They don't want to get involved in businesses that are dying,
that aren't profitable, and that's a decision of any bank.
Is that fair or not?

Speaker 2 (02:07):
Well, the bank's have to assess the credit worthiness of
any applicant, but don't talk to the farmers. When was
it the bank's job to ascertain how much of an
emission problem each cow represents? And how businesses, by the way,
are selling legitimate goods and services internationally should be closed
down by this luxury of the rest. MASSI University has

(02:29):
always trotted our banking experts to themselves are disciples of workism.

Speaker 1 (02:35):
Do you reckon you've got the numbers if it gets pulled,
because that would be the worst thing that could happen
to you, isn't it.

Speaker 2 (02:42):
Well? I believe I've got the numbers and two ways.
Number one, I've certainly got the numbers in Parliament to
gut the energy settings of the New Zealand power sector,
and I'm giving a speech about that very shortly. And secondly,
I genuinely believe that even Labor realizes that they went
too far on all of the climate hysteria. Now, I know,
as I've said that the Greens they're going to campaign

(03:04):
on it, but we are beset by a set of
regulatory impositions that the country can no longer afford. We
cannot stop Russia, we cannot stop India, we cannot stop
China starting another cold fired power station. They use more
cold than twenty twenty four than any other year, and
the illinizes the idea of ogical book conceit. New Zealanders

(03:25):
can't afford the same experiment made nice talk.

Speaker 1 (03:28):
You appreciate it. Shane Jones, Resources Minister of Course. For
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