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

 

Budget Sets High Expectations For More To Come On Climate Action

Business leaders from the Sustainable Business Council (SBC) and the Climate Leaders Coalition (CLC) welcome the 2021 Budget announcement on climate action, noting that it sets high expectations for further commitments resulting from the imminent Emissions Reduction Plan, in next year’s budget.

Executive Director of the Sustainable Business Council Mike Burrell says, "We see today’s announcements as important initiatives to advance climate action in New Zealand.

"By quadrupling the funding to accelerate investment in low-carbon technology, allocating $24 million for agricultural greenhouse gas mitigation research and development, and committing $302 million to implement a regime to incentivise the uptake of low emissions vehicles, the Government has signalled a commitment to accelerate New Zealand’s climate transition.

"Our understanding is that the Government will respond to the Climate Change Commission’s final report through the Emissions Reduction Plan, so when this plan is released later this year, we expect further investment to be committed through the between-Budget contingency fund, and then significant investment in Budget 2022."

Mike Bennetts, Z Energy Chief Executive, and Climate Leaders Coalition Convenor says, "Today’s Budget takes important steps that are consistent with our recent recommendations to Government on climate action priorities and joint submission to the Climate Change Commission on their draft advice. We will continue to work closely with the government, and across the political spectrum, to maintain the momentum required to implement these recommendations."

The key recommendations are: investing in low carbon transport with a roadmap to accelerate fleet transformation; transitioning out process heat; creating an accelerated pathway for methane and nitrogen reduction technologies; building a New Zealand bioeconomy; and incentivising a significant scale-up of energy efficiency across the economy.

The businesses represented by the Sustainable Business Council and Climate Leaders Coalition are leading on climate action and look forward to working with government to develop the policies needed to achieve New Zealand’s zero carbon goal.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Energy: New Zealand Could Be World’s First Large-scale Producer Of Green Hydrogen

Contact Energy and Meridian Energy are seeking registrations of interest to develop the world’s largest green hydrogen plant. The plant has the potential to earn hundreds of millions in export revenue and help decarbonise economies both here and overseas... More>>


MBIE: 36th America’s Cup Post-event Reports Released

Post-event reporting on the 36th America’s Cup (AC36) has been released today. The reports cover the delivery of the event by Crown, Council and America’s Cup Event Limited, economic impacts for Auckland and New Zealand, and delivery of critical infrastructure... More>>

Fonterra: Farmer Feedback Set To Shape Revised Capital Structure Proposal

With the first phase of Fonterra’s capital structure consultation now complete, the Co-op is drawing up a revised proposal that aims to reflect farmers’ views. A number of changes are being considered to the preferred option initially put forward in the Consultation Booklet in May... More>>




Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>

ALSO: