I growled today at spotting "new initiatives" in an article. (Growling in the morning while reading the news exerts the lungs and increases blood flow to the brain, both beneficial effects, especially when combined with strong coffee.)
An initiative is a first step, a beginning. Its sibs from the Latin initiare include initial and initiate, both of which indicate beginnings. If you are taking a first step in a series of actions, you are by definition doing something new, and thus new initiative is redundant.
Granted, if you are contrasting a new measure with some previous effort, it would be entirely proper to use new initiative, but only to contrast with the earlier one.
I have grudgingly abandoned a losing campaign against the irritating pleonasm safe haven, but damme if I will accede to new initiative.