Wednesday, 12 December 2001 Media Statement

Embargoed until midnight tonight

Climate change: joint business-government project to define business opportunities

The Government and the New Zealand Business Council for Sustainable Development are cooperating on a climate change project that will identify the business opportunities of a post-Kyoto Protocol economy.

The project, jointly funded by the business council and the Ministry of Economic Development, will also help businesses understand and minimise their greenhouse gas emissions.

“Business leadership is essential for progress in tackling climate change,” said Economic Development Minister Jim Anderton. “The New Zealand Business Council for Sustainable Development is showing the kind of leadership that will help ensure we maximise the benefits of responding to climate change.”

Stage one of the project, to be completed by July 2002, will identify the business opportunities that will be created as New Zealand and other countries seek to reduce greenhouse gas emissions. In stage two, beginning August 2002, the business opportunities will be promoted and companies will begin reporting against emissions reduction targets.

A greenhouse gas accounting and reporting protocol developed by the World Business Council for Sustainable Development and the World Resources Institute will be adapted for use by New Zealand businesses.

“The Kyoto Protocol is going to create significant pressure for change in energy technologies and improvements in energy efficiency,” said Energy Minister Pete Hodgson, the Convenor of the Ministerial Group on Climate Change. “New Zealand business must take advantage of the opportunities that this shift will create, and this project is the first step.”

Opportunities are expected to arise in the provision of “climate-friendly” technologies and services, emission reduction and energy efficiency.

The total budget for the project is $110,000.

ENDS

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