Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Vector Welcomes Release of Productivity Commission Report

Vector Welcomes Release of Productivity Commission Report into Transitioning to a Low Emissions Economy

Vector welcomes the release of the Productivity Commission’s report on transitioning to a low emissions economy.

Vector Chief Executive Simon Mackenzie said it was positive to see the risks from climate change being explored in an economic context, as well as more broadly, and that the release would lay the foundation for further debate on how to ensure a just transition to a low carbon future.

“The physical, social, environmental and economic impacts of climate change present risks for business. Progressive companies, like Vector, are already exploring how we can create economic and social value in a carbon constrained world”, Mr Mackenzie said.

“We’re pleased to see the report has picked up on points from Vector’s submission, especially recommending an ‘all-sectors’ approach to carbon reduction, and the importance of creating a stable policy environment for climate action.”

The report also highlighted the importance of electricity distribution businesses in helping the sector reduce carbon emissions.

“New technologies like intelligent demand response and distributed energy resources like residential solar and batteries or microgrids will help bring down emissions, improve resilience, and reinforce security of supply”, Mr Mackenzie said.

“These new technologies may be especially beneficial to rural or remote customers, where the cost of traditional network reinforcement may be higher”.

The report also outlines the need to ensure the costs of transitioning do not fall disproportionately to those least able to absorb them.

“Vector is majority community-owned through Entrust, and so our primary concern is the need to ensure the costs and benefits of the transition are shared fairly, especially with respect to lower income households and individuals.”

Vector has already signalled its intention to achieving Net Zero carbon emissions by 2030.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Still Gaining: More Migrants Head Back Overseas

Annual net migration is down 4,800 from a high point a year ago, largely because more non-New Zealand citizens are leaving the country, Stats NZ said today. More>>

Christchurch: Red Zone Used To Boost Endangered Bee Population

“May 20 has been declared World Bee Day by the United Nations, and I am pleased to announce today that we have been able to use the red zone to protect and grow our native bee stocks,” says Minister Megan Woods. More>>

Trips, Support, Conferences For Agents: Insurers Spend $34 Million On Soft Commissions

“We are concerned that insurers are designing and offering incentives that potentially set advisers up to fail in complying with their obligations.” More>>

ALSO:

Privacy Commissioner: Facial Recognition Tech Not Reliable

The Privacy Commissioner says businesses should take great care when using facial recognition technology because there is a high risk of misidentification. More>>

Compliance Costs: Cheesemakers "Have A Reason To Smile"

Delighted to be a guest at The Great Eketahuna Cheese Festival today, Mr O’Connor launched the Food Safety Template for Cheesemakers – a tool to help cheesemakers producing cheese for New Zealand and Australia to meet food safety requirements. More>>

Te Uru Rākau: NZ Forestry Now Future Proofed

The Associate Minister of Forestry the Hon Meka Whaitiri says the launch of Te Uru Rākau will mean that the New Zealand forestry industry will be future proofed. More>>

ALSO:

Minister Of Tourism Speech: TRENZ 2018

Tourism is an economic bedrock. It’s our biggest export earner, employs hundreds of thousands of people, and the industry is the world’s window into our beautiful country. More>>

ALSO: