Govt’s carbon budgets supported by National

Climate Change Minister James Shaw has released the first three emissions budgets – binding targets for the country to reduce its greenhouse gas emissions.

The sinking lids aim to steadily reduce emissions to meet the country’s overall goal of zero net emissions by 2050.

Shaw is releasing the budgets ahead of the Emissions Reduction Plan, which will be revealed next Monday.

He hoped that by releasing the budgets ahead of his plan to actually enact them, then other political parties would have a chance to put their views on the record. That way the parties could disagree with the path to reaching the goal, but not necessarily with the goal itself.

If followed, the first budget would see New Zealand emit 290 megatonnes over 2022-25 – an average of 72.4 megatonnes a year.

The next budget would cover 2026-2030, with an average of 61 megatonnes per year.

Finally, budget three would cover 2031-2035, with an average of 48 megatonnes a year.

The budgets represent a stepped reduction in emissions.

The second budget represents a drop of almost 20% on those annual emissions, and the third a drop of around 35%.

The budgets are broadly similar to what the Climate Change Commission recommended for the first three budgets – exactly matching it for the first budget, coming in slightly higher for the second budget, and slightly lower for the third. ‘‘The emissions budgets are a sinking lid on our emissions, the stepping stones by which we begin the next stage of our journey to net-zero,’’ Shaw said.

‘‘This framework was designed to give New Zealand a much-needed sense of certainty

and predictability to future climate change policy.’’

He said Parliament would hold a debate on the budgets on Thursday, which would give parties a chance to put their views on each budget on record.

National endorses carbon budgets

National has endorsed the three proposed carbon budgets through till 2035, meaning almost any likely Government over that period will be bound to enact them.

Shaw said he had consulted with every party in Parliament on the budgets in the hope of establishing a bipartisan consensus, so that the country could expect some certainty over the coming years, which are likely to feature several governments.

National Party leader Christopher Luxon put out a press release yesterday saying he endorsed them.

‘‘Climate change is a huge challenge. National is fully committed to emissions targets including net zero by 2050,’’

Luxon said.

‘‘Today’s emissions budgets are an important step towards those goals and we will support those budgets in Parliament on Thursday.’’

An ACT Party spokesperson said the party did not support the carbon budgets as a cap within the Emissions Trading Scheme would be sufficient to lower emissions.

‘‘We should dump the Zero Carbon Act then simply keep the cap on the Emissions Trading Scheme,’’ the spokesperson said. ‘‘Setting a cap for New Zealand’s emissions makes every other climate policy a costly duplication.’’

National ended up supporting the Zero Carbon Act – which mandates the budgets – after almost a year of consultation with the Government.

Simon Bridges, who was leader at the time, faced opposition within his caucus on the decision to support the Act – particularly from Judith Collins.