A leading academic says BlackRock's deal with the Government to get New Zealand to 100 percent renewable energy by 2030 is a money-making venture.
BlackRock, a US investment company, is launching $2 billion into the scheme announced on Tuesday.
Brett Christophers, a social and economic geography professor from Sweden's Uppsala University, believed the deal would include many terms and conditions to financially benefit BlackRock.
"Money being invested into the climate transition - in this case in renewable infrastructure - it's better that investment occurs than the fact it doesn't occur," he told AM on Wednesday. "But I think this is one of those cases where the small print is going to be very, very important."
Although the Government is describing the investment as having "huge economic potential", Christophers believed it was a "pretty risky business".
"Of course, it's a money-making venture," he said.
"One shouldn't be particularly critical of that because they're a capitalist firm, that's what they do - they invest to make money for themselves or their investors.
"If they're making money out of it while also speeding New Zealand towards 100 percent renewable energy then, arguably, that's not a bad thing but, again, the question comes down to the specific distribution of risks and rewards."
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