Man­u­fac­tur­ing is an an­swer in adapt­ing to cli­mate change

DEMM Engineering & Manufacturing - - NEWS -

A West­pac NZ Cli­mate Change Im­pact Re­port high­lights, among other things, the crit­i­cal role man­u­fac­tur­ing will play in adapt­ing to cli­mate change and re­duc­ing car­bon emis­sions while pro­vid­ing sus­tain­able growth. The re­port also re­in­forces the risks cli­mate change holds for other sec­tors that cur­rently play a key role in our econ­omy, such as tourism and agri­cul­ture.

The re­port com­pares a “cen­tral sce­nario,” where we act faster and have a smoother path to re­duce emis­sions, and a “shock sce­nario,” where our re­sponse is de­layed and fi­nally driven by a shock which forces very rapid ac­tion. “West­pac es­ti­mates the cen­tral sce­nario saves the New Zealand econ­omy $ 30 billion in GDP and a 32 per­cent lower car­bon price by 2050, com­pared to the shock sce­nario,” says Dr Di­eter Adam, CE, The Man­u­fac­tur­ers’ Net­work.

“The re­port es­ti­mates growth over time for var­i­ous sec­tors. One of their graphs shows that man­u­fac­tur­ing and re­new­able en­ergy gen­er­a­tion are the only sec­tors in our econ­omy able to grow sig­nif­i­cantly if we want to reach the target of net zero car­bon emis­sion by 2050.

“This re­port fur­ther con­firms t wo key points: act­ing now on cli­mate change will re­duce fu­ture cost and help cre­ate a smoother tran­si­tion, and that to sus­tain qual­ity eco­nomic growth through­out this change we need to fo­cus on im­prov­ing our high- value sec­tors which can pro­duce more growth from less emis­sions.

“Man­u­fac­tur­ing can pro­vide the sus­tain­able and more emis­sion ef­fi­cient growth we need to re­duce emis­sions and adapt to cli­mate change. As such, the re­port only con­firms what we’ve known since the work Sir Paul Cal­laghan and oth­ers have done in the past to show that the path to greater wealth for New Zealand must in­volve a shift to more high- value prod­ucts and ser­vices,” said Dr Adam.

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