It appears to be lost on many that an initiative is something that is being started, and thus new. The word derives from the Latin initiare, to begin. It is related to initiate, to take the first steps, initiation, and initial, all of which share the sense of a beginning.
New initiative is usually a cant phrase favored by officials trying to dress up some proposed action for the public. It is defensible only in the context of comparison with a previous initiative that went nowhere, as so many do.