Politics Archives - Page 3 of 23 - Tim McCready

Mayor on the Port - 'It's a pragmatic approach'

March 21, 2024

Auckland mayor Wayne Brown was elected on a platform of moving the Port of Auckland.

But he has now made selling a lease to operate the port a cornerstone of his 10-year budget, known as the Long-Term Plan (LTP).

Critics have questioned Brown’s approach, concerned the port lease would keep cargo locked in its current location for an extended period.

But he says the proposed 35-year lease is a pragmatic solution to extract maximum value from the port. The phased approach would see the return of Captain Cook and Marsden wharves to the public in two years, with Bledisloe North following in 12 to 15 years.

This phased approach would mitigate against a significant drop in land value if the entire port operation was put up holus-bolus.

“If we get it back progressively, the market has shown it can pick up about 5 hectares a year and still pay top price,” Brown says. “If you put it all up straight away, the price will drop sufficiently that even I’d be able to buy a few hectares of it.”

Detractors say the port is a strategic asset and should be kept by the city to retain jobs.

Brown explains his proposal would lock in a 35-year commitment, providing certainty to businesses and workers about the long-term footprint of the Port.

“If we offer a lease for 35 years, the jobs will be there for 35 years. If we don’t sell a licence, it will be gone in 10 years.

“Winston and I will be under way dismantling the port.”

He is adamant he will not carry on using the rates paid by some 35,000 houses to cover the difference between what the port makes and the cost of ownership.

Brown acknowledges it might look as though he has done a flip but says the one thing he knows is you have to compromise.

“All those people who think the port will stay there forever are dreaming,” he says.

“I am being accused of changing my mind, but it’s a pragmatic approach. I’m the ultimate pragmatist.”

Greg Fleming on being the newly elected MP for Maungakiekie (Onehunga FM)

February 1, 2024

Greg Fleming, our newly elected MP for the Maungakiekie electorate, discusses his transition into Parliament along with the challenges and surprises he has encountered.

Tim dug a little deeper into Greg’s parliamentary maiden speech which incorporated significant use of Te Reo Māori and a good dose of humour.

Finally, Greg provides a glimpse into his busy schedule, balancing time in Wellington and his new electorate office at 222 Onehunga Mall, just opposite Curry Leaf.

Dynamic Business: ASEAN key to ambitious trade goals (NZ Herald)

December 8, 2023

Dynamic Business: ASEAN key to ambitious trade goals (NZ Herald)

Over the past five years, New Zealand’s economic ties with Asean (the Association of Southeast Asian Nations) have undergone significant growth, from $17.15 billion in 2017 to $27.42b in 2022.

With 10 member states, the union is New Zealand’s third-largest trading partner — we now trade more in a week with Asean than we did in an entire year in the early 1970s.

The National-led Government has set an ambitious trade goal to double the value of our exports within a decade. Despite the region navigating the same economic challenges that echo worldwide, it is clear Asean will be an important component in New Zealand reaching its lofty ambitions.

The NZ Asean Business Alliance Conference in Kuala Lumpur last month saw more than 250 attendees gather from across the region and New Zealand to explore the tremendous opportunities inherent in mutual collaboration. There is a keen interest to do more and a desire from Asean to deepen its ties with New Zealand.

An economic anchor

New Zealand’s top trade official, Vangelis Vitalis, told the conference the region has a role as an “economic anchor”, particularly during the past two years where global markets have seen the highest increase in non-tariff and other forms of direct protectionism.

Highlighting the strength of New Zealand’s trade ties with Asean, Vitalis underscored the significance of the rules-based trading system all member nations honour. There hasn’t been a case brought against a member within the Asean Australia New Zealand Free Trade Agreement (AANZFTA) or the Regional Comprehensive Economic Partnership (RCEP). These agreements have led to the near-complete elimination of trade tariffs for New Zealand in the region.

Vitalis gave an example of how the rules matter and they make a difference to business: “In 2021, we estimated across the Apec region that it was taking up to eight days for products to cross the border. That does not apply between Asean members and New Zealand.

“We have a commitment to move products within 48 hours across our customs borders, and the recent upgrade of the AANZFTA has delivered a commitment of six hours for chilled and high-quality fresh produce. That is a significant advantage that we enjoy in each other’s markets over and above our competitors.”

Next generation of trade

Professorial chair in business in Asia and Director of the Southeast Asia Centre of Asia-Pacific Excellence, Professor Siah Hwee Ang, stressed the pivotal role of Asean in shaping the future of New Zealand’s trade, pointing to the age of its population as an important indicator.

“Two of the largest countries in Asean — the Philippines and Vietnam — have a median age less than 30, and most other nations are not much older,” he said.

“That demographic profile gives access to a substantial number of current and future customers, providing markets that offer 10-20 years of growth potential.”

The digital economy is a particularly prominent area of opportunity for New Zealand, fuelled by Asean’s young population and the rapid adoption of smartphones among the expanding middle class. Also notable is the health and wellness sector, which has emerged as a fast-growing area in the aftermath of the pandemic.

Deputy Minister of Investment, Trade and Industry for Malaysia, Liew Chin Tong, emphasised the pro-active moves global businesses are making to mitigate against ongoing geopolitical uncertainties by adopting “friend-shoring”. This strategic shift involves relocating manufacturing operations to countries viewed as political and economic allies, with India and Asean gaining in prominence.

“Southeast Asia is geopolitically a middle ground,” he said.

“By building a strong middle class in the years to come, it will not just be a production site, but it will be a major market for global businesses.”

Malaysia — a gateway

With a population of almost 34 million and one of Asean’s fastest-growing countries, Malaysia is a large, dynamic market, that is easily accessible to business.

Its blend of Malay, Chinese, Indian, and European cultures is unique. Impressive shopping centres and towering skyscrapers, including the Petronas twin towers, dot the landscape, interspersed with colonial buildings.

The Commonwealth member has a political structure and legal framework largely based on British systems. Its cost-effectiveness, central location and the prevalence of English used in business makes it a great launchpad for expansion into the region.

While many attendees at the conference had not yet visited New Zealand, they had an admiration for and interest in our country and a keen desire to engage in business with us.

Some of this can be traced back to the Colombo Plan, which brought Malaysians to New Zealand for education. Today, many of them hold senior positions in business and government, bringing a valuable network that encourages bilateral collaboration and favourability towards New Zealand that has not been taken advantage of.

Emerging sustainability

What surprised me in Malaysia was the pervasive use of plastic bags. They are prolific at grocery stores, food stalls and markets. Even drinks are served container less in bags.

Despite this cultural norm, the Malaysian Government has committed to phase out plastic bags by 2025. This reflects the increasing environmental awareness in the region and a heightened focus on climate change.

Some of Asean’s largest cities — Jakarta, Bangkok, Manila and Ho Chi Minh City — are at severe risk of permanent flooding if ocean levels continue to rise.

Nine out of 10 countries in the region have committed to achieving net-zero by 2060 or sooner.

During the conference, delegates expressed interest in technologies and services New Zealand could provide in terms of renewable energy and carbon reduction technologies — yet another promising area to help New Zealand meet its ambitious new trade goals!

· The Association of Southeast Asian Nations (Asean) is a union of 10 sovereign states in Southeast Asia: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

· Tim McCready was a guest of the Southeast Asia Centre of Asia-Pacific Excellence and the Malaysia NZ Chamber of Commerce.

Dynamic Business: NZ ministers tout Government’s trade ambitions at US summit (NZ Herald)

December 8, 2023

Dynamic Business: NZ ministers tout Government’s trade ambitions at US summit (NZ Herald)

Key coalition ministers have articulated a unified vision for New Zealand’s future that embraces innovation, value uplift and enhanced diplomatic ties with the United States and beyond.

The have also pledged to undertake a record number of trade missions in the Government’s first term — more than any government in the history of New Zealand.

Speaking at last week’s United States Business Summit, Foreign Affairs Minister Winston Peters and Trade Minister Todd McClay delivered their first major speeches since the Government’s formation to a room packed with business leaders.

Peters outlined specific actions to unlock economic potential, including maximising the value of bilateral trade, resolving barriers to trade and strengthening supply chains. He stressed the importance of collaboration in industries that are key to building a more prosperous and secure future, including critical technologies and space.

He also spoke of the enduring and special relationship between New Zealand and the United States.

Drawing parallels between our shared democratic traditions, he highlighted the shared commitment to values such as human rights, freedom of speech, free and fair trade and the rule of law.

“Because of these common values and democratic traditions, it’s hardly surprising that our global interests so often correspond, and that we have repeatedly worked together in times of international crises and in the face of major global challenges,” he said. “And we will continue to do so.”

Underlining the strategic importance of the Pacific in bilateral relations, Peters commended recent initiatives such as the opening of US embassies, the return of the US Peace Corps and increased security commitments in the region.

However, he called for a more intensified engagement to address strategic and security challenges in the Indo-Pacific region, emphasising a shared interest in stability and prosperity.

McClay echoed the importance of trade as an essential engine for growth and its role in expanding economic opportunities, lifting incomes and strengthening the country’s ability to respond to shocks.

“We therefore have a strong and clear message for our partners,” he said. “New Zealand is open for business. We will engage with you. We will be active offshore to work for New Zealand businesses and to drive investment in both directions.”

McClay noted that Government’s role is much broader than facilitating market access: “It is about shaping the brand and the story behind it. Opening doors, helping to make connections, and supporting New Zealanders to do well on the world stage.”

McClay outlined the new Government’s trade strategy, aiming to drive export value, expand market access and resolve trade barriers.

“I am going to seek urgent advice from officials as to how and what else we can do to supercharge this support to business,” he said. “We are determined to break down the barriers that are such a drag on productivity and growth.”

He recalled that in 2016, one of his first responsibilities as a new trade minister was hosting a 12-country ministerial meeting followed by a ceremony in Auckland for the Trans-Pacific Partnership Agreement.

He underscored the significance of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as the best option for the United States to embed itself in the Indo-Pacific economic architecture.

“We will all be aware that the US ultimately decided not to join the agreement,” he said. “It remains my hope to someday be able to welcome them.”

In the meantime, McClay said New Zealand remains focused on other ways in which the US can actively engage in the economic architecture of the Indo-Pacific, particularly through the Indo-Pacific Economic Framework (IPEF).

“On the numbers alone, it is huge: 14 countries, six G20 economies including the US and India, 50 per cent of New Zealand’s exports, 40 per cent of global GDP. To state the obvious, when the US is running with a regional economic initiative of this scale — one that includes rule-making — you can’t afford to not be at the table.”

As New Zealand navigates the shifting tides of trade globally, these two key ministers responsible for New Zealand’s international efforts have signalled a resolute focus on growth and adaptability to deal with whatever global challenges might come our way.

US Business Summit 2023: Call to Order, Tim McCready

November 30, 2023

CALL TO ORDER

MC: Tim McCready

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United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: How Brand NZ shows up in the USA and how we can build our value

November 30, 2023

HOW BRAND NZ SHOWS UP IN THE USA AND HOW WE CAN BUILD OUR VALUE

David Downs, CEO of the New Zealand Story, an ambitious organisation marketing New Zealand to the world presented insights from the latest U.S. research.

Moderator: Tim McCready

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United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: Prize draw

November 30, 2023

PRIZE DRAW

Prize draw: Two return business class flights to New York City courtesy of Air New Zealand and a selection of meats from Silver Fern Farms.

Auckland Business Chamber event director Katy Riddell with Air New Zealand senior manager Mark Kennedy.

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United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: Summit close

November 30, 2023

Tim McCready, Summit MC closes the 2023 US Business Summit. — United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: Summit Summary

November 30, 2023

SUMMIT SUMMARY

Summit co-chairs Fran O’Sullivan and Simon Bridges summarise the United States Business Summit with Summit MC Tim McCready.

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United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

Sustainability: Is it at risk of becoming a fair-weather friend?

November 9, 2023

Sustainability: Is it at risk of becoming a fair-weather friend?

It was only 10 months ago that New Zealand suffered two of its most costly weather-related disasters.

The Auckland Anniversary floods and Cyclone Gabrielle resulted in insurance claims of more than $2 billion. Climate change was a top concern of the nation. Ipsos’ New Zealand Issues Monitor ranked it the fifth-most-significant concern for New Zealanders in February and May 2023.

But you just have to look to the recent election to see how much has changed since then.

Climate change was barely mentioned on the campaign trail or during the debates by the two candidates vying to be Prime Minister.

By August, the Ipsos survey saw climate change slip out of the top five concerns for New Zealanders and making way for worries about the cost of living, crime, housing, healthcare and the economy.

This is a trend seen globally, where soaring inflation and the cost-of-living crisis has seen consumers shift to cheaper and often less-sustainable products and services, and their attention shift away from the climate.

EY’s Future Consumer Index, which surveyed 21,000 consumers across 27 countries, found that affordability was the top priority at 35 per cent (up from 25 per cent in October 2022). Of the five consumer segments, “planet first” saw the biggest decrease, falling from 25 per cent in 2022 to 16 per cent this year.

With more immediate challenges pushing climate action further down the priority list, it is at risk of becoming a fair-weather friend. The irony of that is noted.

Other trends making impacting sustainability efforts include:

Anti-ESG: a true movement or simply politics?

Criticism of sustainable and environmental, social and governance (ESG) investing has gained momentum recently, particularly in the United States as it has become increasingly politicised.

Simultaneously, there has been a notable increase in the amount of “anti-ESG” funds, defined as those that invest in assets that were traditionally excluded by socially responsible funds and often aligned with politically conservative values.

Flows into anti-ESG funds peaked in the third quarter of 2022, according to American financial services firm MorningStar. More than 80 per cent of the US$377 million ($630m) raised that quarter flowed into the first fund of Strive Asset Management – an investment firm founded by Republican presidential candidate and pharmaceutical entrepreneur Vivek Ramaswamy to counter the “woke” investment practices of more established ESG-focused firms like BlackRock.

In his campaign launch video, Ramaswamy criticised “the woke left” and its focus on diversity, denouncing policies from left-leaning politicians used to address the Covid-19 pandemic, gender issues and climate change.

Another Republican presidential candidate, Florida Governor Ron DeSantis, also took aim against ESG investing this year, signing a law that prohibits the state’s public or state-controlled funds to invest based on ESG factors. The anti-ESG legislation is set to be a model for other Republican-led states, prioritising financial returns for state funds and state pensions and preventing the issuance of green bonds.

Even BlackRock CEO Larry Fink, a longtime proponent of investing with ESG standards in mind, said in June that while he hasn’t changed his position on ESG, he has stopped using the acronym following its weaponisation by the far left and the far right of politics.

More recent data from MorningStar reveals that anti-ESG funds have fallen dramatically from last year’s peak. The firm suggested in its headline that “anti-ESG might be over before it even got going”. It is also worth recognising that the surge of investment into anti-ESG remains miniscule compared to the vast pool of ESG assets.

Bloomberg Intelligence estimates these will reach US$50 trillion ($83.5t) in 2025.

Without a doubt, the question over whether anti-ESG is a genuine shift in investment philosophies or merely a reflection of political discourse will linger. The US presidential election is set down for November 5 next year.

Greenhushing: is silence the new strategy?

Most of us are familiar with greenwashing, where companies and brands exaggerate or even fabricate their commitment to sustainability and eco-friendly practices without substantiating their claims.

It has become a growing concern as consumers and investors increasingly seek genuinely environmentally responsible options.

In response, it has given rise to a contrasting phenomenon: greenhushing. In this case, businesses make a deliberate choice to downplay or even hide their sustainability initiatives and credentials.

One reason for this is the ongoing political hostility over climate change. Advocates for stronger environmental action are pushing for even further efforts, and those with opposing views are boycotting firms for even acknowledging climate change should be factored into business decisions.

Meanwhile, some firms are greenhushing as a protective measure against scrutiny. The heightened emphasis on verification and transparency means that loudly announcing sustainability efforts invites increased attention and the possibility of criticism.

With governments and regulatory bodies cracking down on greenwashing and demanding companies substantiate the claims they make, there is a growing number of businesses staying quiet about their efforts as a prudent course of action amid the risk of a potential lawsuit.

While other companies choose to under-report their sustainability efforts to avoid being asked for ever-expanding amounts of data and the associated expense associated with verification.

Greenhushing can be seen rippling through sustainable funds as well. US-based fintech consultancy Broadridge identified 44 sustainable funds that dropped the word “sustainable” from their fund in the first half of 2023, contrasting with 2022, when 99 funds added the word to their name.

This is linked to the European Securities and Markets Authority signalling that greenwashing has become a major concern for policymakers and it may move to regulate the use of firms using ESG or sustainability-related terms to avoid funds obtaining an unfair competitive advantage.

Artificial intelligence: a climate hero or enemy?

No discussion of current trends impacting business would be complete without the mention of artificial intelligence (AI).

It has quickly emerged as a powerful tool for myriad industries seeking to adapt and mitigate the impacts of climate change and accelerate the transition to a more sustainable and resilient future.

AI-informed precision agriculture can help to optimise resource use, reduce waste, and enhance crop yields. The energy sector is being made more sustainable with AI forecasting for renewable energy sources, grid optimisation and demand-side management. AI-powered logistics and traffic management can help reduce transport emissions and improve fuel efficiency.

In the construction and real estate industry, AI can track the use of a building and use historical patterns to adjust lighting and air conditioning. It can help to identify when it makes economic and climate sense to make upgrades to buildings.

However, there is an often-overlooked counterpoint: these technologies also contribute significantly to greenhouse gas emissions. Data centres rival the aviation industry in their carbon footprint and consume significant amounts of water.

As technological developments progress, the demand for energy to continue to train and operate these systems is only set to increase. As AI becomes more deeply ingrained in the world around us, finding sustainable energy solutions to power it will be an increasing challenge. But never fear: AI will undoubtedly help us solve it.