Latest news with #Crown-owned
Scoop
12-06-2025
- Business
- Scoop
A Bold Dream Gets A Cut As Predator Free 2050 Ltd Is Disestablished
Article – RNZ Predator Free 2050 was hit by a budget blow, and now the 'moonshot' goal is under threat, for The Detail The environmental sector worries that the future of a predator-free Aotearoa is in jeopardy after the Government swung the axe in the latest budget. It was billed as a 'moonshot' for New Zealand's environment – a bold, world-leading goal launched by Sir John Key in 2016, aimed at eradicating rats, possums and stoats from our islands by 2050. The vision has been clear – bring back birdsong to every valley, protect the flightless kiwi, and restore what once thrived. But today, the future of Predator Free 2050 looks uncertain. Predator Free 2050 Ltd, the Crown-owned company established to drive and fund large-scale eradication and breakthrough science, is now being disestablished, as announced as part of Budget 2025. Funding for the company will cease by the end of the year, with its responsibilities shifted to the Department of Conservation (DOC), which the government says will reduce duplication, increase efficiency and save about $12 million. 'People are now worried for this programme,' Newsroom environment editor David Williams tells The Detail. 'They say without ongoing funding, we will not only not go forward, but we will go backwards. This programme needs funding, and that's up to the government.' The government insists the broader goal of predator eradication remains. But Dr Kayla Kingdon-Bebb, chief executive of WWF New Zealand, is not entirely convinced. 'New Zealanders believe in the Predator Free 2050 dream, and we want the government to get behind them too. But I'm not sure this will happen. 'I've not been seeing a lot of enthusiasm for environmental outcomes from this government, full stop. We describe the government's policy agenda as a war on nature, and I think it is disappointing that a previous National government got so strongly behind this moonshot objective, and this government does not seem to care so much.' Both Williams and Kingdon-Bebb say the country has 'overwhelmingly' backed the Predator Free 2050 initiative, allowing it to 'come a long way, in a relatively short time'. Already, predator-elimination projects cover more than 800,000 hectares. 'This is a big amount of land,' says Williams. 'And the goal is big … but they have done well. 'They also said they wanted to fund scientific research, and 15 or 20 projects have already had money to try and sort this problem out. 'A lot of community groups have latched on to this – someone said to me that this is the one conservation project that has captured the imagination of New Zealanders more than any other.' Kingdon-Bebb agrees. 'It has certainly captured the hearts and minds like nothing else,' she says. 'We have seen an explosion of community trapping groups and landscape-scale projects over the last nine years, which has been amazing … now I feel the government is taking its foot off the pedal. 'What is apparent is that the government has had a look at the delivery model of the programme as a whole, which is complex. 'So, if it is the case that the government has reviewed it and determined that a crown-owned corporation is not the best delivery methodology, I can accept that. 'DOC has a lot of capability … and perhaps it is appropriate for DOC to be coordinating this work, perhaps there was duplication of roles and functions and costs. 'But where I would be concerned is that in the wider scale of what has happened in the last two budgets, the Department of Conservation will see, in total, about 300 million dollars in savings exacted from it. 'So, it does beg the question whether a very stretched department can pick up the leadership of this initiative in a way we would want to see it done.' Critics say that move will slow momentum, bury innovation under bureaucracy and confuse local projects already stretched thin. They also argue that across the country, hundreds of predator-free community groups, many driven by volunteers, will be left wondering what support will look like without the company's funding, research backing and strategic oversight. But the government insists the predator-free projects and contracts funded by the company are not affected and it is committed to the predator-free 2050 goal.
Newsroom
11-06-2025
- Politics
- Newsroom
What happened to Predator Free 2050?
It was billed as a 'moonshot' for New Zealand's environment – a bold, world-leading goal launched by Sir John Key in 2016, aimed at eradicating rats, possums, and stoats from our islands by 2050. The vision has been clear – bring back birdsong to every valley, protect the flightless kiwi, and restore what once thrived. But today, the future of Predator Free 2050 looks uncertain. Predator Free 2050 Ltd, the Crown-owned company established to drive and fund large-scale eradication and breakthrough science, is now being disestablished, as announced as part of Budget 2025. Funding for the company will cease by the end of the year, with its responsibilities shifted to the Department of Conservation, which the Government says will reduce duplication, increase efficiency, and save about $12 million. 'People are now worried for this programme,' Newsroom environment editor David Williams tells The Detail. 'They say without ongoing funding, we will not only not go forward, but we will go backwards. This programme needs funding, and that's up to the Government.' The Government insists the broader goal of predator eradication remains. But Dr Kayla Kingdon-Bebb, the chief executive of WWF New Zealand, is not entirely convinced. 'New Zealanders believe in the Predator Free 2050 dream, and we want the Government to get behind them too. But I'm not sure this will happen. 'I've not been seeing a lot of enthusiasm for environmental outcomes from this Government, full stop. We describe the Government's policy agenda as a war on nature, and I think it is disappointing that a previous National government got so strongly behind this moonshot objective, and this Government does not seem to care so much.' Both Williams and Kingdon-Bebb say the country has 'overwhelmingly' backed the Predator Free 2050 initiative, allowing it to 'come a long way, in a relatively short time'. Already, predator-elimination projects cover more than 800,000 hectares. 'This is a big amount of land,' says Williams. 'And the goal is big … but they have done well. 'They also said they wanted to fund scientific research, and 15 or 20 projects have already had money to try and sort this problem out. 'A lot of community groups have latched on to this – someone said to me that this is the one conservation project that has captured the imagination of New Zealanders more than any other.' Kingdon-Bebb agrees. 'It has certainly captured the hearts and minds like nothing else,' she says. 'We have seen an explosion of community trapping groups and landscape-scale projects over the last nine years, which has been amazing … now I feel the Government is taking its foot off the pedal. 'What is apparent is that the Government has had a look at the delivery model of the programme as a whole, which is complex. 'So, if it is the case that the Government has reviewed it and determined that a Crown-owned corporation is not the best delivery methodology, I can accept that. 'DoC has a lot of capability … and perhaps it is appropriate for DoC to be coordinating this work, perhaps there was duplication of roles and functions and costs. 'But where I would be concerned is that in the wider scale of what has happened in the last two budgets, the Department of Conservation will see, in total, about 300 million dollars in savings exacted from it. 'So, it does beg the question whether a very stretched department can pick up the leadership of this initiative in a way we would want to see it done.' Critics say that move will slow momentum, bury innovation under bureaucracy, and confuse local projects already stretched thin. They also argue that across the country, hundreds of predator-free community groups, many driven by volunteers, will be left wondering what support will look like without the company's funding, research backing, and strategic oversight. But the Government insists the predator-free projects and contracts funded by the company are not affected, and it is committed to the predator-free 2050 goal. Check out how to listen to and follow The Detail here. You can also stay up-to-date by liking us on Facebook or following us on Twitter.
National Business Review
03-06-2025
- Business
- National Business Review
Minister expects Landcorp to deliver bold turnaround plan
State-owned Enterprises Minister Simeon Brown is continuing to put pressure on Landcorp to lift its commercial performance. In his letter of expectations to the Crown-owned farming company – which trades as Pāmu – Brown noted its five-year average total shareholder return and return on equity
Hamilton Spectator
31-05-2025
- Business
- Hamilton Spectator
Trans Mountain could take on more pipeline projects if private sector can't: CEO
CALGARY - The CEO of Crown-owned pipeline operator Trans Mountain Corp. says it could take on other market-expanding pipeline projects if necessary, but that it would be preferable for the private sector to take the lead. Trade tumult in recent months with the United States — Canada's biggest customer for its crude oil — has intensified calls for Canada to build infrastructure that would allow its resources to flow to other global buyers. When the expanded Trans Mountain pipeline began shipping Alberta crude to the B.C. Lower Mainland just over a year ago, oilsands producers were finally able to meaningfully access lucrative Asian markets. Trans Mountain CEO Mark Maki said in an interview Friday there's an appetite for more pipeline egress to the Pacific coast and elsewhere. 'The U.S. is a great customer. It will always be a great customer, but diversification of markets for the country is important,' he said. He said Trans Mountain's owner — the Government of Canada — would prefer the private sector lead the way. 'If that can't happen, and it's in the national interest, Trans Mountain is here,' Maki said. His remarks came after Trans Mountain reported its operational and financial results for the first three months of 2025. Since oil started flowing through the expansion in May of last year, 266 crude vessels have been loaded, and third-party information suggests the destinations have been split between the U.S. West Coast and Asia. The expanded pipeline shipped an average of about 757,000 barrels per day during the quarter — below its capacity of 890,000 barrels per day. Maki said if the pipeline were running full, western Canadian heavy crude would see a steeper price discount against the easier-to-refine light crude sold on the global market. That would eat into the margins of Alberta producers. 'You really don't want us 100 per cent full … What's important really is to keep a little bit of slack in the system,' he said. As of now, the supply of crude hasn't caught up with takeaway capacity. 'But when that happens, the crude differential blows out. And so having a little bit of wiggle room is important.' Trans Mountain said there are economical ways to boost the pipeline's capacity if needed, such as adding chemical agents to reduce friction, which would enable more crude to flow through the line. Other options could include adding pumping horsepower or pipe segments. Those projects could together add up to 300,000 barrels per day of capacity. Trans Mountain said quarterly net income was $148 million, down from $158 million a year earlier. Its earnings before interest, taxes, depreciation and amortization — a measure it says reflects the performance of its underlying business — were $568 million, compared to the $36 million it brought in a year earlier, before the pipeline expansion had started up. During the quarter, $311 million was paid to its parent Canada TMP Finance Ltd., which is itself owned by the Canada Development Investment Corp. That consisted of $148 million in interest payments and $163 million in cash dividends. The original Trans Mountain pipeline has been operating since the 1950s. In 2013, U.S. energy company Kinder Morgan filed a proposal to expand it at a cost of $5.4 billion, touching off a contentious regulatory review process marked by protests and legal challenges. Kinder Morgan suspended work in 2018 and shortly thereafter sold the pipeline to the federal government for $4.5 billion. By the time the expansion project was completed, its cost had ballooned to $34 billion. Maki said there's no hurry to bring Trans Mountain back into private hands. He said the expanded pipeline should get a little more operating history under its belt so a potential buyer can ascribe the proper value to it. A dispute over the tolls customers pay to use the line, currently before the Canada Energy Regulator, also needs to be sorted out, he said. There is also interest in potential Indigenous equity ownership in the line — when the time is right. Trans Mountain is in a 'transitional' year where it is starting to pay dividends and is continuing some of the cleanup work from the pipeline construction. Next year will be a 'much more normal' one, Maki said. 'And so really probably at that point and out would make sense to start thinking about that.' This report by The Canadian Press was first published May 30, 2025.
National Observer
30-05-2025
- Business
- National Observer
Trans Mountain CEO offers to take on more pipelines
The CEO of Crown-owned pipeline operator Trans Mountain Corp. says it could take on other market-expanding pipeline projects if necessary, but that it would be preferable for the private sector to take the lead. Trade tumult in recent months with the United States — Canada's biggest customer for its crude oil — has intensified calls for Canada to build infrastructure that would allow its resources to flow to other global buyers. When the expanded Trans Mountain pipeline began shipping Alberta crude to the B.C. Lower Mainland just over a year ago, oilsands producers were finally able to meaningfully access lucrative Asian markets. Trans Mountain CEO Mark Maki said in an interview Friday there's an appetite for more pipeline egress to the Pacific coast and elsewhere. "The U.S. is a great customer. It will always be a great customer, but diversification of markets for the country is important," he said. He said Trans Mountain's owner — the Government of Canada — would prefer the private sector lead the way. "If that can't happen, and it's in the national interest, Trans Mountain is here," Maki said. His remarks came after Trans Mountain reported its operational and financial results for the first three months of 2025. Since oil started flowing through the expansion in May of last year, 266 crude vessels have been loaded, and third-party information suggests the destinations have been split between the U.S. West Coast and Asia. The expanded pipeline shipped an average of about 757,000 barrels per day during the quarter — below its capacity of 890,000 barrels per day. Maki said if the pipeline were running full, western Canadian heavy crude would see a steeper price discount against the easier-to-refine light crude sold on the global market. That would eat into the margins of Alberta producers. "You really don't want us 100 per cent full … What's important really is to keep a little bit of slack in the system," he said. As of now, the supply of crude hasn't caught up with takeaway capacity. "But when that happens, the crude differential blows out. And so having a little bit of wiggle room is important." Trans Mountain said there are economical ways to boost the pipeline's capacity if needed, such as adding chemical agents to reduce friction, which would enable more crude to flow through the line. Other options could include adding pumping horsepower or pipe segments. Those projects could together add up to 300,000 barrels per day of capacity. Trans Mountain said quarterly net income was $148 million, down from $158 million a year earlier. Its earnings before interest, taxes, depreciation and amortization — a measure it says reflects the performance of its underlying business — were $568 million, compared to the $36 million it brought in a year earlier, before the pipeline expansion had started up. During the quarter, $311 million was paid to its parent Canada TMP Finance Ltd., which is itself owned by the Canada Development Investment Corp. That consisted of $148 million in interest payments and $163 million in cash dividends. The original Trans Mountain pipeline has been operating since the 1950s. In 2013, U.S. energy company Kinder Morgan filed a proposal to expand it at a cost of $5.4 billion, touching off a contentious regulatory review process marked by protests and legal challenges. Kinder Morgan suspended work in 2018 and shortly thereafter sold the pipeline to the federal government for $4.5 billion. By the time the expansion project was completed, its cost had ballooned to $34 billion. Maki said there's no hurry to bring Trans Mountain back into private hands. He said the expanded pipeline should get a little more operating history under its belt so a potential buyer can ascribe the proper value to it. A dispute over the tolls customers pay to use the line, currently before the Canada Energy Regulator, also needs to be sorted out, he said. There is also interest in potential Indigenous equity ownership in the line — when the time is right. Trans Mountain is in a "transitional" year where it is starting to pay dividends and is continuing some of the cleanup work from the pipeline construction. Next year will be a "much more normal" one, Maki said. "And so really probably at that point and out would make sense to start thinking about that."
