New Zealand, BlackRock join forces to reach 100% renewable electricity: New Zealand’s government and top US fund manager BlackRock are partnering up to launch a NZ 2 bn (c. USD 1.22 bn) climate infrastructure fund to invest in renewable energy projects in the country, Reuters reports. “This is the largest single-country low-carbon transition investment initiative BlackRock has created to date,” BlackRock CEO Larry Fink said. “It will enable New Zealand companies to access greater pools of capital to build out climate infrastructure across the country’s energy system including in wind power, solar power, battery storage, electric vehicle charging, and natural capital projects,” he added.

All under NZ’s 100% renewable electricity track: “This fund will accelerate New Zealand’s emissions reductions, with a particular focus on our path to 100% renewable electricity,” New Zealand Energy Minister Megan Woods said, according to the newswire. New Zealand is “well-positioned to be one of the first countries in the world to deliver a fully renewable electricity system,” Woods added, due to record levels of renewable energy generation by New Zealand in recent years.

Ghana pushes forward with mining plans: The Ghanaian government approved a green minerals bill late last month to tap into lithium production and exploit its resources of rare earths that are critical to the energy transition, Bloomberg reports. The policy document — expected to be passed by the country’s parliament before the end of the year — will establish policies and a fiscal framework to govern the production of minerals critical to the shift to green energy to ensure the country “derives as much benefit as possible from its resources,” Bloomberg quotes the country’s Natural Resources Minister Samuel Jinapor as saying. Jinapor added that none of Ghana’s lithium volumes would be exported in its raw state to support Ghana’s national production and maximize profits. The law would also help the country leverage its reserves of manganese, graphite, and cobalt, he adds.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Chinese steel giant signs CCUS research agreement: China’s largest listed steelmaker Baoshan Iron & Steel Company has signed a joint research agreement for carbon capture, utilization, and storage (CCUS) with leading state oil firm Sinopec, energy giant Shell, and German chemical company BASF. (Reuters)
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