Business calls for bold action
A group representing some of New Zealand’s biggest businesses wants urgent action on the Government’s $2.9 billion Emissions Reduction Plan and is calling for a clear role for the private sector.
New Zealand’s first Emissions Reduction Plan (ERP) was released yesterday, revealing how the Government plans to meet the nation’s first emissions budget of 72.4 million tonnes a year. The plan outlines how the country will shave 11.5 million tonnes of carbon dioxide-equivalents off our emissions from 2022-2025, and will be funded from the proceeds of selling carbon credits to polluters under the Emissions Trading Scheme over the next four years.
Mike Burrell, executive director of the Sustainable Business Council, said the report was a significant milestone in New Zealand’s move to a zero-carbon future.
The council’s members, which included Fletcher Building, Air NZ, Genesis, Ngāi Tahu Holdings, Ports of Auckland and The Warehouse Group, had called for bold action now rather than waiting for the perfect plan, and there were some significant announcements yesterday, Burrell said.
‘‘We have moved into a new era where climate action is the new business as usual and it is pleasing to see a plan that is starting to reflect that movement.’’
Action and investment from the private sector would be key, he said.
Business and Government would have to co-operate closely, and a clear role for the private sector in implementing the plan would need to be outlined.
‘‘Our members know that climate action is not a partisan issue, it is good business sense.
‘‘While there will naturally be different views about the policy detail, cross-party support for our overall trajectory is critical to an enduring response,’’ Burrell said.
Z Energy chief executive and convenor of the Climate Leaders Coalition Mike Bennetts said the success of the country’s transition to a zero-carbon economy depended on the action taken now.
‘‘The ERP gives us the framework. We now must urgently deliver on it. That will require business and Government working at unprecedented scale and pace to meet the challenge ahead,’’ Bennetts said.
The coalition signatories wanted to unite New Zealand businesses and speed up the change, and the coalition would soon launch a new statement of ambition to reflect that.
‘‘We were pleased to see 107 parliamentarians vote in support of our first emissions budgets last week. Locking in a bipartisan emissions reduction trajectory is critical to enabling private sector investment decisions that support a low-emissions future,’’ Bennetts said.
The two groups also welcomed many of the energy sector proposals, including a step change in investment in the Government Investment in Decarbonising Industry Fund.