580 (2024). Hon Dr Megan Woods to the Minister for Energy

580 (2024). Hon Dr Megan Woods to the Minister for Energy: Is he concerned that according to the Minister of Finance "Returning funding from the Government Investment in Decarbonising Industry Fund (the GIDI) is likely to have an impact, but the size of this impact is highly uncertain. At the time decisions were taken, the impact was estimated as additional emissions of around 3.0 Mt CO2-e over the second emissions budget period (2026-2030) and 4.0 Mt CO2-e over the third emissions budget period (2031-2035). The Ministry of Business Innovation and Employment has advised that these estimates may increase in future as the status of some applications is worked through."?

Hon Simeon Brown: The Coalition Government is focused on achieving the Net Zero 2050 Goals. In the second emissions reduction plan the Government will outline its plan for meeting emissions budgets. The Government has also been clear that rather than subsidising profitable businesses, the Emissions Trading Scheme is our key tool for incentivising markets to choose the most efficient carbon reductions for themselves.