43946 (2024). Chlöe Swarbrick to the Minister of Climate Change

43946 (2024). Chlöe Swarbrick to the Minister of Climate Change: Does the Minister agree with the draft Second Emissions Reduction Plan which states “Investors must believe governments will remain committed to targets and choose NZ ETS and other policy settings accordingly,” and if so, why does the Minister’s second Emissions Reduction Plan overshoot New Zealand’s third emissions budget, while only keeping 2 million tonnes below the second emissions budget?

Hon Simon Watts: Yes. The Government is making cost-effective decisions now to set up New Zealand to further electrify, use increased levels of renewable energy and bring in technologies that will reduce emissions as they become available. The choices and actions New Zealanders make over the coming years will set New Zealand up for success in the third emissions budget period. Modelling and emissions projections are less certain the further they look into the future. The proposals outlined in the discussion document set us up to meet the second emissions budget. They also set us up to make choices so that we can meet the third emissions budget. The Government will publish a third plan by the end of the decade, which must, by law, set out a plan for achieving Emissions Budget 3.