This page has information on New Zealand’s net position which is used for tracking progress towards our unconditional 2020 emissions reduction target.
What the 2020 net position is
The 2020 net position tracks progress towards New Zealand’s unconditional 2020 emissions reduction target (2020 target).
It takes into account New Zealand’s historic and projected emissions and removals from 2013 to 2020, and units held by the Government that can be used to meet this target.
For information on the target see New Zealand’s unconditional 2020 target
Why we report the net position
The 2020 net position is no longer a reporting requirement under the Public Finance Act (1982). This is because New Zealand chose to take its 2020 target under the United Nations Framework Convention on Climate Change and not under the Kyoto Protocol, as it did for the 2008 to 2012 first commitment period (CP1). This means the 2020 target imposes no fiscal asset or liability on the Crown.
While no longer a domestic reporting requirement, the Ministry continues to produce a 2020 net position report to provide information on New Zealand’s progress towards the 2020 target. New Zealand continues to apply the Kyoto Protocol framework of rules in tracking progress towards the target.
Future targets and the net position
The 2020 net position is updated regularly to track New Zealand’s progress towards achieving the 2020 target.
Once we enter the 2021 to 2030 period, this will be replaced by a net position report towards our 2030 target.